Indiabulls Real Estate (IBR) share price is up 8.8% ahead of its board meeting to consider restructuring of its residential and commercial & leasing businesses. The commercial & leasing business has a total 9.1mn sq.ft of leasable area. Out of which 5.2mn sq.ft is completed and 3.9mn sq.ft is under construction & planning/approval phase. The expected annuity income for FY18 is Rs720cr. The projected annuity income for FY20-21 is Rs1,513cr.
The commercial and leasing business is held under Indiabulls Commercial Assets Ltd, a wholly owned subsidiary of IBR.
Earlier on April 17, 2017, the restructuring/ reorganizing of commercial & leasing businesses was considered as follows: –
(i) By placing Indiabulls Commercial Assets Limited as a separa…
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