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24 announcements match the current filters (relevance ≥ 5).
IBULLSLTD signs DM agreement for Rs 3,700 Cr GDV project on Dwarka Expressway
Indiabulls Limited has signed an agreement with a private landlord for Development Management (DM) of a 10.84-acre residential project on Dwarka Expressway, Gurugram. The project has an estimated saleable area of 21 lakh sq. ft. and an estimated Gross Development Value (GDV) of around Rs 3,700 crore. Phases 1 and 3 have received RERA approvals, with a targeted launch by mid-October 2026. With this addition, the company's total portfolio GDV rises to Rs 27,308 crore.
Confidence: HIGH
What changedEntered a Development Management agreement with a private landlord for a 10.84-acre residential project in Gurugram.
Why it mattersExpands Indiabulls Limited's asset-light DM pipeline, lifting its total portfolio GDV to Rs 27,308 crore and creating an incremental fee-generation pipeline.
Project GDV: Rs. 3,700 croresTotal Portfolio GDV: Rs. 27,308 croresLand Area: 10.84 acresSaleable Area: 21 lakh sq. ft.Expected Launch: mid October 2026
📅 Short termPositive sentiment driver ahead of the targeted mid-October 2026 project launch.
📈 Long termEnhances the business scale under an asset-light development management model, aiding revenue visibility over multiple construction and delivery cycles.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution delays in launch and construction
- Real estate market absorption risks in the NCR/Dwarka Expressway micro-market
Key Highlights
New residential DM agreement spanning approximately 10.84 acres on Dwarka Expressway, Gurugram
Estimated project Gross Sales Value (GDV) of around Rs 3,700 crore with 21 lakh sq. ft. saleable area
Total project portfolio GDV for the company expands to Rs 27,308 crore
Phase 1 and Phase 3 have obtained RERA registration; launch planned for mid-October 2026
👀 What to Watch
Track the project launch progress by mid-October 2026, initial booking traction, and development management fee realization across upcoming quarterly results.
EOW Status Report confirms full repayment of ₹8,268 cr legacy loans in promoter PIL case
Indiabulls Limited disclosed details of an Economic Offences Wing (EOW) Status Report filed before the Supreme Court regarding a 2019 PIL on lending by erstwhile Indiabulls Housing Finance. The report confirms that all 197 loan accounts across five borrower groups (aggregating ₹8,267.86 crore sanctioned) have been fully repaid, yielding gross collections of ₹11,073.77 crore and over ₹2,800 crore in interest and fees. EOW found no fund diversion or quid pro quo for DLF, Vatika, Chordia, and Americorp groups, while the Reliance ADAG investigation remains ongoing. Indiabulls Limited clarified that it is not directly involved in the PIL.
Confidence: HIGH
What changedEOW filed a Status Report in the Supreme Court clearing key allegations of loan diversion and confirming 100% loan recovery with interest.
Why it mattersClears legacy overhang regarding historical lending practices and allegations surrounding the erstwhile promoter.
Total loans sanctioned: ₹8,267.86 crGross collections realised: ₹11,073.77 crInterest & fees realised: > ₹2,800 crTotal loan accounts closed: 197
📅 Short termPositive sentiment relief as official investigative reports affirm that no financial losses or fund siphoning occurred.
📈 Long termHelps dismantle legacy legal overhangs as the company focuses on digital platform restructuring and amalgamation.
⚠ Risk flags
- Investigation regarding Reliance ADAG group remains ongoing
- Final disposal of Special Leave Petition pending before the Supreme Court
Key Highlights
All 197 loan accounts totaling ₹8,267.86 crore sanctioned across 5 groups are fully closed with ₹11,073.77 crore in gross collections
Over ₹2,800 crore realised in interest and fees across the loan tenures, resulting in no financial loss
SEBI and NHB investigations found no diversion of funds or evidence of quid pro quo across 4 borrower groups
Investigation qua Reliance ADAG group (₹1,574 crore sanctioned, fully repaid) is ongoing
👀 What to Watch
Track subsequent hearings in the Supreme Court regarding the final disposal of the PIL and completion of the pending Reliance ADAG inquiry.
EOW Status Report Confirms Full Repayments of ₹11,073.77 Cr Across 197 Loans in Promoter PIL
Indiabulls Limited (formerly Yaari Digital Integrated Services) shared an update regarding the PIL before the Supreme Court concerning its erstwhile promoter and group lending. The Economic Offences Wing (EOW), Delhi Police, filed a status report confirming that all 197 loans sanctioned across 5 borrower groups (totaling ₹8,267.86 crore) have been fully repaid and closed, yielding ₹11,073.77 crore in gross collections. For four groups (DLF, Vatika, Americorp, Chordia), investigations found no financial loss, diversion, or quid pro quo, while probe qua Reliance ADA Group remains ongoing despite full loan closure.
Confidence: HIGH
What changedThe Delhi Police EOW submitted a status report to the Supreme Court verifying full repayment of contested legacy loans and finding no evidence of quid pro quo across most borrower groups.
Why it mattersReduces legacy legal overhang and reputational risks associated with former promoter-linked lending allegations, providing regulatory clarity.
Total loans sanctioned: ₹8,267.86 crGross collection realized: ₹11,073.77 crInterest & fees collected: in excess of ₹2,800 croreTotal loan accounts closed: 197
📅 Short termPositive sentiment driver as official investigative reports confirm recovery of funds and absence of diversion in core allegations.
📈 Long termAssists in clearing historical corporate governance overhang as the company executes its restructuring and amalgamation roadmap.
⚠ Risk flags
- Investigation regarding Reliance ADA Group remains ongoing despite full repayment of loans.
Key Highlights
All 197 loan accounts totaling ₹8,267.86 crore sanctioned across 5 borrower groups stand fully repaid with ₹11,073.77 crore collected.
Realised interest and fees exceeded ₹2,800 crore across the tenures, verified by CA certificate dated 11.12.2025.
EOW and SEBI found no diversion, abnormal retention, or quid pro quo regarding DLF, Vatika, Chordia, and Americorp.
Investigation regarding Reliance ADA Group (7 loans aggregating ₹1,574 crore, all repaid) is ongoing.
👀 What to Watch
Track the upcoming Supreme Court hearings for final disposal of the Special Leave Petition and conclusion of the ongoing Reliance ADAG inquiry.
51.55 Cr Warrants: IBULLSLTD Clarifies Shareholding for Preferential Issue
Indiabulls Limited (formerly Yaari Digital) has provided updated shareholding data for its proposed preferential issue of 51.55 crore warrants. Upon full conversion, the company's equity base will expand by approximately 23%, increasing from 232.95 crore to 286.69 crore shares. Significantly, the promoter group's stake is projected to rise from 32.91% to 39.49%, indicating increased promoter commitment. This fundraise is a key component of the company's massive restructuring involving the amalgamation of Dhani Services and Indiabulls Enterprises.
Confidence: HIGH
What changedThe company clarified its post-issue shareholding structure to stock exchanges, a necessary step for obtaining in-principle approval for its 51.55 crore warrant issuance.
Why it mattersThe increase in promoter stake by nearly 6.6% during a restructuring phase signals management confidence. The capital infusion is critical given the company's recent history of net losses (Rs 68.17 Cr in FY25).
Warrants to be issued: 51,55,00,000Post-issue Promoter Stake: 39.49%Equity Dilution: ~23.07%Post-issue Total Shares: 286,68,73,102Face Value: Rs 2
📅 Short termThe clarification indicates progress in the regulatory approval process for the fundraise, which may support the stock price in the near term.
📈 Long termThe structural shift toward a consolidated digital platform through amalgamation is significant, but long-term success depends on reversing the current trend of negative profitability.
⚠ Risk flags
- Significant equity dilution of ~23%
- History of negative profitability (FY25 Net Loss: Rs 68.17 Cr)
- Execution risk related to the complex amalgamation of multiple entities
Key Highlights
Proposed issuance of 51,55,00,000 warrants convertible into equity shares of Rs 2 each.
Promoter and Promoter Group holding to increase from 32.91% to 39.49% on a fully diluted basis.
Total equity share capital to expand from 232.95 crore to 286.69 crore shares, representing ~23.07% dilution.
Foreign promoter bodies corporate will hold a 12.75% stake post-issue, compared to 0% currently.
Public shareholding to be diluted from 63.18% to 57.34% post-conversion.
👀 What to Watch
Monitor the receipt of 'In-principle approval' from the stock exchanges and the subsequent timeline for warrant allotment and conversion. Investors should focus on the execution of the amalgamation with Dhani Services as the primary driver for future valuation.
₹384.4 Cr Revenue: IBULLSLTD Reports ₹141 Cr PAT and ₹1,000 Cr Fundraise
Indiabulls Limited reported a strong Q1 FY27 with revenue of ₹384.4 crore and a PAT of ₹141.0 crore, reflecting a 36.7% margin. The company approved a massive ₹1,000.07 crore preferential capital raise, with promoters contributing ₹709 crore (71%), to fund its growth pipeline. Real estate operations showed significant momentum with ₹3,003 crore in bookings during the quarter. The company maintains a zero-debt balance sheet while managing a total Gross Development Value (GDV) pipeline of ₹23,608 crore.
Confidence: HIGH
What changedThe company has transitioned from a loss-making entity in FY25 to high profitability in Q1 FY27, supported by a massive capital infusion and a scaled-up real estate pipeline.
Why it mattersThe ₹1,000 crore fundraise and the ₹23,608 crore GDV pipeline fundamentally shift the company's scale, moving it from a small-cap services firm to a significant real estate and financial services player.
Q1 FY27 Revenue: ₹384.4 croreQ1 FY27 PAT: ₹141.0 crorePreferential Raise vs TTM Revenue: ~423%Total GDV Pipeline: ₹23,608 croreFY27 Launch Pipeline: ₹8,014 croreNet Debt: Zero
📅 Short termThe stock is likely to react positively to the high PAT margins and the strong promoter commitment in the ₹1,000 crore fundraise.
📈 Long termThe company is structurally pivoting toward a large-scale real estate developer with a zero-debt strategy; long-term value depends on the timely delivery of the ₹23,608 crore GDV pipeline.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk in the ₹8,014 crore FY27 launch pipeline
- Equity dilution from the ₹1,000 crore preferential raise
- Real estate market cyclicality in NCR and Mumbai
Key Highlights
Reported Q1 FY27 Revenue of ₹384.4 crore and PAT of ₹141.0 crore (36.7% margin)
Approved a ₹1,000.07 crore preferential capital raise, representing ~423% of TTM revenue
Achieved real estate bookings of ₹3,003 crore and collections of ₹519 crore in Q1
Total GDV pipeline stands at ₹23,608 crore across 112.2 lakh sqft and 12 projects
Broking business added 25,156 new clients, a 424% YoY increase
👀 What to Watch
Monitor the execution of the ₹8,014 crore FY27 launch pipeline and the formal completion of the ₹1,000 crore preferential allotment. Watch for the impact of the ongoing amalgamation with Dhani Services on consolidated operational efficiencies.
Rs 141 Cr PAT in Q1 FY27; Indiabulls Ltd Plans Rs 8,014 Cr Launches in FY27
Indiabulls Limited (formerly Yaari Digital) reported a strong Q1 FY27 with revenue of Rs 384.4 Cr and a PAT of Rs 141.0 Cr, reflecting a high 36.7% margin. The company is pivoting to a real-estate-heavy model with a total Gross Development Value (GDV) of Rs 23,608 Cr across 112.2 lakh sqft. A preferential capital raise of Rs 1,000.07 Cr is underway, with promoters committing Rs 709 Cr (~71%). The balance sheet is robust with zero net debt and Rs 2,700 Cr in accumulated tax credits to shield future profits.
Confidence: HIGH
What changedThe company has successfully transitioned from a digital services platform to a real estate developer with a massive project pipeline and a clean, zero-debt balance sheet.
Why it mattersThe scale of the GDV (Rs 23,608 Cr) relative to the company's historical revenue (Rs 236 Cr TTM) suggests a massive structural shift in business scale and profitability potential.
Q1 FY27 Revenue: Rs 384.4 CrQ1 Revenue vs TTM Revenue: 162.8%Total GDV Potential: Rs 23,608 CrFY27 Launch Pipeline: Rs 8,014 CrAccumulated Tax Credits: Rs 2,700 CrPromoter Commitment: Rs 709 Cr
📅 Short termPositive sentiment is likely driven by the sharp turnaround in profitability and the large promoter-backed fundraise which signals confidence.
📈 Long termThe company is positioning itself as a major luxury/mid-income developer; long-term value depends on the successful delivery of the 112.2 lakh sqft pipeline and maintaining high margins.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High geographic concentration in NCR (87% of portfolio)
- Execution risk in real estate construction timelines
- Cyclical nature of luxury housing demand
Key Highlights
Q1 FY27 PAT reached Rs 141.0 Cr on revenue of Rs 384.4 Cr, exceeding previous TTM revenue of Rs 236 Cr in a single quarter.
Planned FY27 launch pipeline includes 5 projects with a GDV of Rs 8,014 Cr, timed for the festive season.
Total GDV potential stands at Rs 23,608 Cr across 12 projects in NCR, Mumbai, and Ludhiana.
Preferential capital raise of Rs 1,000.07 Cr approved, with Rs 709 Cr committed by promoters to fund expansion.
Accumulated tax credits of Rs 2,700 Cr provide a significant tax shield for future profitable quarters.
👀 What to Watch
Watch for the execution of the Rs 8,014 Cr launch pipeline in FY27 and the conversion of the Rs 2,484 Cr uncollected booking value into cash flow as construction milestones are met.
₹1,000.07 Cr Fundraise via Warrants Approved; Q1 FY27 Results Released
Indiabulls Limited (formerly Yaari Digital) has approved a massive ₹1,000.07 crore fundraise through the issuance of 51.55 crore warrants at ₹19.40 per warrant. This capital infusion is approximately 4.2x the company's TTM revenue of ₹236 crore, signaling a major liquidity event. The company also reported Q1 FY27 results, which were aided by a ₹18.10 crore reversal of liabilities. Additionally, the company is progressing with a complex restructuring involving the amalgamation of Dhani Services and Indiabulls Enterprises.
Confidence: HIGH
What changedThe company has secured shareholder and board approval for a capital infusion exceeding its annual revenue, alongside cleaning up its balance sheet through liability reversals.
Why it mattersThis fundraise provides the necessary capital to pivot the business toward digital platform solutions and online commerce, which is critical given the company's history of negative profitability.
Fundraise Amount: ₹1,000.07 croreFundraise vs TTM Revenue: 423.7%Warrant Issue Price: ₹19.40Liability Reversal: ₹18.10 croreNew ESOP Exercise Price: ₹26.00
📅 Short termThe market is likely to react to the massive capital infusion, though the warrant price of ₹19.40 is a significant discount to the current market price of ₹29.5.
📈 Long termThe structural significance depends on the successful integration of the amalgamated entities and the ability to generate sustainable margins from the digital commerce business.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Massive equity dilution from warrant conversion
- Reliance on one-time liability reversals for income
- History of regulatory delays regarding board composition
Key Highlights
Approved preferential issue of 51,55,00,000 warrants at ₹19.40 each to raise ₹1,000.07 crore
Reported other income includes a one-time reversal of liabilities amounting to ₹18.10 crore
Allotted 51,61,464 equity shares under ESOP 2025, increasing paid-up capital to ₹465.91 crore
Granted 30,09,036 new stock options at an exercise price of ₹26 per share
Restated June 2025 financials to reflect the composite scheme of arrangement effective from April 1, 2023
👀 What to Watch
Monitor the timeline for warrant conversion and the specific deployment of the ₹1,000 crore capital into the digital commerce platform. Investors should also track the finalization of the amalgamation with Dhani Services.
₹1,000.07 Cr fundraise approved via preferential warrants for digital expansion
Shareholders of Indiabulls Limited (formerly Yaari Digital) have approved a massive ₹1,000.07 crore fundraise through the issuance of warrants convertible into equity shares. This capital infusion is approximately 4.2x the company's TTM revenue of ₹236 crore, representing a highly material event for the company's balance sheet. The resolution was passed with a 99.78% majority at the Extraordinary General Meeting held on July 2, 2026. The funds are intended for both Promoter and Non-Promoter groups to support the company's restructuring and digital platform pivot.
Confidence: HIGH
What changedShareholders have formally authorized the company to raise over ₹1,000 crore, providing the necessary capital for its massive business restructuring and digital platform expansion.
Why it mattersThis capital injection is critical for a company currently facing negative profitability and undergoing a major amalgamation. The scale of the fundraise (over 400% of annual revenue) suggests a total reset of the company's financial capacity.
Fundraise Amount: ₹1,000.07 CroreFundraise vs TTM Revenue: ~423%Approval Majority: 99.78%Record Date for EGM: June 25, 2026
📅 Short termThe approval provides a positive liquidity signal to the market, likely supporting the recent momentum in the stock price as the company secures funding for its turnaround.
📈 Long termIf the ₹1,000 crore is effectively deployed into the digital platform and the Dhani Services merger, it could fundamentally re-rate the business from a loss-making entity to a capitalized digital services player.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Significant equity dilution
- Execution risk of the digital pivot
- Historical negative profitability and net worth
Key Highlights
Approved a preferential issue of ₹1,000.07 crore through convertible warrants
Resolution passed with a dominant 99.78% majority of total votes polled
Promoter group cast 76.66 crore votes, with 100% in favor of the proposal
Public non-institutional shareholders showed 99.98% support for the capital raise
Fundraise is significantly larger than the TTM revenue of ₹236 crore
👀 What to Watch
Investors should monitor the specific allotment dates and the conversion price of the warrants to assess the exact equity dilution. Additionally, track the progress of the composite scheme of arrangement involving Dhani Services, which this capital is likely intended to support.
Indiabulls Ltd Clarifies Details for ₹1,000.07 Crore Fundraise via Convertible Warrants
Indiabulls Limited has issued a corrigendum to its EGM notice regarding a preferential issue of convertible warrants worth ₹1,000.07 crore. The funds are primarily allocated for growth in Real Estate and NBFC subsidiaries (₹400 crore) and parent company working capital (₹400 crore). The company corrected its valuation report basis from unaudited to audited financials for the period ending March 31, 2026. Additionally, the pre-issue shareholding has been updated to 232.95 crore shares to reflect recent ESOP allotments.
Key Highlights
Proposed preferential issue of 51.55 crore convertible warrants to raise ₹1,000.07 crore.
Allocation of ₹400 crore for subsidiary growth and ₹400 crore for parent company working capital.
Valuation report clarified to be based on Audited Standalone Financials as of March 31, 2026.
Updated pre-issue share capital stands at 232,95,43,602 shares after accounting for 51.61 lakh ESOP shares.
Funds to be utilized within 18 months of receipt, supporting Real Estate, NBFC, ARC, and Stock Broking arms.
👀 What to Watch
Investors should track the EGM results on July 2, 2026, as the successful fundraise will provide significant growth capital for the company's diversified business verticals.
Indiabulls Limited to Raise ₹1,000.07 Crore via Preferential Issue of Convertible Warrants
Indiabulls Limited has scheduled an EGM on July 2, 2026, to seek shareholder approval for a ₹1,000.07 crore fundraise through the issuance of 51.55 crore convertible warrants. The warrants are priced at ₹19.40 each, with the Promoter Group (Phanes Limited and Hermes Limited) contributing ₹709.07 crore and Non-Promoter entities contributing ₹291 crore. Investors are required to pay 25% of the issue price upfront, with the remaining 75% payable within 18 months upon conversion into equity shares. This move is expected to significantly strengthen the company's capital base and indicates strong promoter backing.
Key Highlights
Preferential issue of 51,55,00,000 unlisted warrants to raise a total of ₹1,000.07 crore.
Issue price set at ₹19.40 per warrant, including a premium of ₹17.40, based on the relevant date of June 2, 2026.
Promoter group entities to subscribe to 36,55,00,000 warrants, representing approximately 12.75% of post-issue diluted capital.
Non-promoter entities EBISU Global and Nyaasa Global to subscribe to 15,00,00,000 warrants.
Warrants are convertible into equity shares on a 1:1 basis within an 18-month exercise period.
👀 What to Watch
Investors should view the substantial promoter participation as a vote of confidence in the company's future prospects, though they should remain mindful of the potential ~18% equity dilution upon full conversion.
Indiabulls Limited to raise INR 1,000.07 Crore via preferential issue of convertible warrants
Indiabulls Limited (formerly Yaari Digital) has approved a massive fundraise of INR 1,000.07 crore through the issuance of 51.55 crore convertible warrants. The warrants are priced at INR 19.40 each, which includes a premium of INR 17.40 per share. The issue is split between Promoter Group entities, who are taking up 36.55 crore warrants, and Non-Promoter Group entities taking up 15 crore warrants. The conversion into equity shares can be exercised within 18 months from the date of allotment, subject to shareholder approval on July 2, 2026.
Key Highlights
Total fundraise of INR 1,000.07 crore through 51,55,00,000 convertible warrants.
Issue price fixed at INR 19.40 per warrant, representing a significant capital infusion.
Promoter group entities (Phanes Limited and Hermes Limited) are subscribing to approximately 71% of the total issue.
Non-promoter participation includes EBISU Global Opportunities Fund and Nyaasa Global Fund VCC.
Warrants are convertible into equity shares in one or more tranches within 18 months.
👀 What to Watch
Investors should view the strong promoter participation as a sign of confidence in the company's turnaround or growth plans. Monitor the EGM results on July 2, 2026, and watch for subsequent disclosures regarding the specific use of these funds.
Indiabulls Ltd to Raise INR 1,000.07 Crore via Preferential Issue of Convertible Warrants
Indiabulls Limited has approved a massive fundraise of INR 1,000.07 crore through the issuance of 51.55 crore convertible warrants at an issue price of INR 19.40 per share. The issuance is targeted at both Promoter Group entities (Phanes Limited and Hermes Limited) and Non-Promoter funds (EBISU Global and Nyaasa Global). These warrants are convertible into equity shares within 18 months, signaling strong promoter commitment and providing a significant liquidity boost to the company. The proposal is subject to shareholder approval at an EGM scheduled for July 2, 2026.
Key Highlights
Approved raising INR 1,000.07 crore through 51,55,00,000 convertible warrants.
Warrants priced at INR 19.40 per share, including a premium of INR 17.40.
Promoter group entities to subscribe to 36.55 crore warrants, representing over 70% of the total issue.
Non-promoter entities EBISU Global and Nyaasa Global to subscribe to 15 crore warrants.
Warrants are convertible into equity shares in one or more tranches within 18 months of allotment.
👀 What to Watch
Investors should monitor the EGM outcome on July 2, 2026; the significant promoter participation is a strong confidence signal, though the resulting equity dilution upon conversion should be factored into long-term valuations.
Indiabulls Ltd Reports FY26 PAT of ₹346 Cr; Targets 2x Real Estate Profit Growth in FY27
Indiabulls Limited (formerly Yaari Digital) has completed its massive restructuring, merging 17 entities into a clean, net-cash positive structure. For FY26, the company reported a revenue of ₹880.78 crore and a PAT of ₹346 crore, with Q4 alone contributing ₹194.26 crore. Management has pivoted focus to Real Estate as the primary growth engine, backed by a ₹21,000+ crore GDV pipeline and 1.1 crore sq. ft. of sellable area. The financial services vertical remains a capital-light, profitable secondary driver with 28,000 new customers added in Q4.
Key Highlights
FY26 consolidated revenue stood at ₹880.78 crore with a PAT of ₹346 crore.
Real Estate GDV potential is estimated at ₹21,000+ crore with 40 lakh sq. ft. of launches planned for FY27.
Management provides guidance for Real Estate profits to grow 2x in FY27 and 3x in FY28 compared to FY26 levels.
The Prabhadevi commercial asset is projected to generate a stable annuity income of ₹100-120 crore per year.
Company is currently net cash positive with zero loss-making entities and no major legacy litigations.
👀 What to Watch
Investors should track the timely execution of the ₹6,000 crore FY27 launch pipeline to validate the management's aggressive profit growth guidance. The stock serves as a turnaround play following the successful simplification of the group structure.
Indiabulls Ltd FY26 PAT at ₹346 Cr; Real Estate GDV Pipeline Reaches ₹21,366 Cr
Indiabulls Limited (formerly Yaari Digital) reported a strong FY26 performance following its strategic merger, recording a PAT of ₹346.1 Cr on revenues of ₹880.7 Cr. The company has successfully pivoted to a real estate-led growth model, booking sales of ₹2,752 Cr in FY26 with a massive total GDV pipeline of ₹21,366 Cr. Q4FY26 showed significant momentum with a PAT margin of 46.4%, driven by luxury residential projects in Gurugram. The stock broking arm remains resilient with over ₹68,000 Cr in client assets despite a slight annual revenue dip.
Key Highlights
Achieved FY26 Revenue of ₹880.7 Cr and PAT of ₹346.1 Cr with a 39.3% profit margin
Real estate sales bookings reached ₹2,752 Cr in FY26, covering 21.6 Lakh Sqft of area sold
Total Gross Development Value (GDV) visibility stands at ₹21,366 Cr across 110.52 lakh sqft of saleable area
Planned project launches for FY27 estimated at ₹6,029 Cr GDV, focusing on Gurugram and Ludhiana
Stock broking vertical manages ₹68,000+ Cr in client assets with 1.12 lakh active trading accounts
👀 What to Watch
Investors should focus on the company's ability to execute its ₹6,029 Cr FY27 launch pipeline and the realization of ₹2,493 Cr in balance revenue from existing bookings. The high margin profile post-merger is encouraging, but the business is now heavily concentrated in the premium Gurugram real estate market.
Indiabulls Ltd Reports FY26 PAT of ₹346 Cr; Real Estate GDV Pipeline Reaches ₹21,366 Cr
Indiabulls Limited (formerly Yaari Digital) has successfully transitioned to a real estate-led growth model following its merger with Dhani Services and Indiabulls Enterprises. For FY26, the company reported a total revenue of ₹880.7 crore and a PAT of ₹346.1 crore, with Q4FY26 alone contributing ₹194.2 crore in profit. The company boasts a massive real estate pipeline with a Gross Development Value (GDV) of ₹21,366 crore across 110.52 lakh sqft. The stock broking vertical remains a steady contributor with ₹124.4 crore in annual revenue and over ₹68,000 crore in client assets.
Key Highlights
FY26 Revenue reached ₹880.7 Cr with a PAT of ₹346.1 Cr, representing a 39.3% profit margin.
Q4FY26 showed significant momentum with Revenue of ₹418.3 Cr and PAT of ₹194.2 Cr.
Real Estate segment booked sales of ₹2,752 Cr in FY26 with a total GDV potential of ₹21,366 Cr.
Planned launches for FY27 are estimated at a GDV of ₹6,029 Cr across 39.74 lakh sqft.
Stock broking vertical maintains ₹68,000+ Cr in client assets and 1.73 lakh Demat accounts.
👀 What to Watch
Investors should view the successful merger and the pivot to a high-margin real estate model as a significant growth catalyst. The massive GDV pipeline provides strong revenue visibility for the next several years, though execution of the FY27 launch pipeline remains the key monitorable.
Indiabulls Ltd Reports FY26 PAT of ₹346 Cr; Real Estate GDV Pipeline Reaches ₹21,366 Cr
Indiabulls Limited (formerly Yaari Digital) reported a strong financial performance for FY26 following its merger, with a total revenue of ₹880.7 Cr and a PAT of ₹346.1 Cr. The company has successfully pivoted to a real estate-led model, booking sales of ₹2,752 Cr in FY26 and maintaining a massive Gross Development Value (GDV) pipeline of ₹21,366 Cr. Q4FY26 showed significant momentum with a PAT of ₹194.2 Cr and a high profit margin of 46.4%. The stock broking arm also contributed ₹124.4 Cr in revenue, despite a slight year-on-year dip in that specific segment.
Key Highlights
FY26 Revenue stood at ₹880.7 Cr with a Profit After Tax (PAT) of ₹346.1 Cr and 39.3% margin.
Real estate segment booked sales of ₹2,752 Cr in FY26, selling 21.6 lakh sqft across 909 units.
Total project pipeline (GDV) estimated at ₹21,366 Cr, with ₹6,029 Cr of launches planned for FY27.
Q4FY26 performance was particularly strong with ₹418.3 Cr revenue and a 46.4% profit margin.
Stock broking business added 9 lakh clients in Q4FY26, bringing total client assets to over ₹68,000 Cr.
👀 What to Watch
Investors should monitor the execution of the ₹6,029 Cr FY27 launch pipeline as the company transitions into a real-estate heavy player. The high profit margins in Q4 suggest strong operating leverage post-merger, making it a key stock to watch in the NCR real estate space.
Indiabulls Ltd Enters Rs 600 Cr Commercial JV in Gurgaon; Reports Strong Residential Sales
Indiabulls Limited has announced a strategic Joint Venture for a premium commercial development on 2.38 acres in Sector 103, Gurgaon. The project, located along the high-growth Dwarka Expressway, has an estimated Gross Development Value (GDV) of Rs. 600 crores. Additionally, the company reported healthy sales momentum for its existing residential projects, IB Heights and IB Estate & Club, in Sector 104. This expansion into commercial real estate, including office and retail spaces, marks a significant addition to the company's real estate portfolio.
Key Highlights
Entered a Joint Venture for a commercial project on 2.38 acres in Sector 103, Gurgaon.
Estimated Gross Development Value (GDV) of the new JV project is Rs. 600 crores.
Project includes a mix of modern office spaces, retail, F&B facilities, and service apartments.
Reported healthy sales momentum for existing residential projects IB Heights and IB Estate & Club in Sector 104.
👀 What to Watch
Investors should monitor the execution progress of the new Rs 600 crore JV and the impact of residential sales on the upcoming quarterly earnings. The focus on the Dwarka Expressway corridor is a positive strategic move for long-term growth.
Indiabulls Ltd Q3 FY26: PAT Rises to ₹78.4 Cr; Real Estate Pipeline Valued at ₹23,042 Cr
Indiabulls Limited reported a consolidated PAT of ₹78.4 Cr for Q3 FY26, showing slight sequential growth despite a sharp revenue decline to ₹102.6 Cr from ₹256.6 Cr in Q2. The company is transitioning post-merger, focusing on a massive real estate pipeline of 140.65 lakh sq. ft. with an estimated net margin potential of ₹9,155 Cr. While NCR construction was temporarily halted due to GRAP restrictions, profit recognition from major projects is expected to commence in Q4 FY26. The financial services segment remains stable, with ARC assets under collection reaching ₹3,800 Cr and broking AUM exceeding ₹68,000 Cr.
Key Highlights
Consolidated PAT increased to ₹78.4 Cr in Q3 FY26 compared to ₹75.3 Cr in Q2 FY26.
Total real estate development pipeline stands at 140.65 L Sqft with expected revenue of ₹23,042 Cr.
ARC business added portfolios worth ₹545 Cr, bringing total assets under collection to ~₹3,800 Cr.
Broking AUM grew to ₹68,000+ Cr with new customer additions up 88% on a 9M YoY basis.
Revenue for the quarter dropped significantly to ₹102.6 Cr from ₹256.6 Cr in the previous quarter.
👀 What to Watch
Investors should closely monitor the Q4 FY26 results for the promised commencement of profit recognition from the real estate segment. While the asset pipeline is substantial, the significant sequential revenue drop and regulatory dependencies in the NCR region necessitate a cautious approach.
Indiabulls Ltd Q3 FY26 Net Profit at ₹78.37 Cr; Completes Major Merger with Dhani Services
Indiabulls Limited (formerly Yaari Digital) reported a consolidated net profit of ₹78.37 crore for Q3 FY26, showing stability compared to ₹75.31 crore in the preceding quarter. The company has successfully implemented a massive Scheme of Arrangement merging Dhani Services and multiple other entities, resulting in a significant turnaround from a restated loss of ₹108.56 crore in the previous year's nine-month period to a profit of ₹151.87 crore. Total equity share capital has expanded significantly to ₹464.87 crore following the allotment of shares to merging entity shareholders. The results also reflect a one-time recognition of deferred tax assets worth ₹104.82 crore.
Key Highlights
Consolidated Net Profit for Q3 FY26 stood at ₹78.37 crore vs ₹75.31 crore in Q2 FY26.
Nine-month FY26 profit reached ₹151.87 crore, recovering from a restated loss of ₹108.56 crore YoY.
Total equity share capital increased to ₹464.87 crore following the issuance of over 125 crore new shares under the merger swap.
The company officially changed its name from Yaari Digital Integrated Services Limited to Indiabulls Limited effective October 2025.
Asset Reconstruction segment contributed ₹137.69 crore to revenue for the nine-month period ended December 2025.
👀 What to Watch
Investors should note the successful completion of the complex restructuring and the company's return to profitability. While the turnaround is positive, the massive equity dilution from the share swap requires careful monitoring of future Earnings Per Share (EPS) growth.
Indiabulls Ltd Q3 Net Profit at ₹78.37 Cr Driven by Tax Credits; Revenue Slumps 59% QoQ
Indiabulls Limited (formerly Yaari Digital) reported a consolidated net profit of ₹78.37 crore for Q3 FY26, which was primarily supported by a deferred tax credit of ₹105.93 crore. Operational performance showed significant weakness as revenue from operations fell 59% sequentially to ₹96.96 crore from ₹236.27 crore in Q2. The quarter marks the first full reporting period following a massive restructuring and merger with Dhani Services and other entities, which has significantly expanded the equity base to ₹464.88 crore. Despite the bottom-line profit, the company recorded a loss before tax of ₹27.56 crore, highlighting operational headwinds.
Key Highlights
Net Profit of ₹78.37 crore reported for Q3 FY26, largely due to a ₹105.72 crore deferred tax asset recognition.
Revenue from operations declined sharply to ₹96.96 crore from ₹236.27 crore in the previous quarter.
Reported a Loss Before Tax of ₹27.56 crore in Q3 FY26 compared to a profit of ₹103.33 crore in Q2 FY26.
Total paid-up equity capital increased to ₹464.88 crore following the issuance of over 125 crore new shares under the merger scheme.
Asset Reconstruction segment emerged as a significant contributor with ₹117.69 crore revenue for the nine-month period.
👀 What to Watch
Investors should remain cautious as the net profit is non-operational and driven by accounting adjustments. The massive equity dilution and the shift in business focus post-merger require a few more quarters to demonstrate sustainable core profitability.
