Indiabulls Real Estate Ltd has been one of the worst-performing stocks in the BSE 500. The share had reached a 52-week high of ₹ 195.90 on 9th October 2021 and a 52-week low of ₹ 68.40 on 11th May 2022. The stock has given a negative return of 56.83% on a year-to-date basis.
Rakesh Jhunjhunwala holds 50 lakh shares of the company. This used to amount to a 1.1% stake earlier. However, Indiabulls Real Estate raised ₹ 865 crores through a qualified institutional placement at ₹101.10 per equity share after which, the ace investor’s stake reduced below 1% without any divestment.
The company reported a reduced revenue of ₹ 323 crores and a net loss of ₹ 87 crores in the third quarter of FY 2021-22. Its sales growth has declined by 12.46% over the past five years. The company’s promoters hold a very low stake of 0.03% in it. Their stake reduced by 38.86% in the last three years and by 0.23%, i.e., from 0.26% to 0.03% in the March quarter.
It is important to note that the ace investor also has a 1.3% stake in Indiabulls Housing Finance Ltd Indiabulls Real Estate Limited is a real estate company in India with a well-diversified presence in both commercial and residential real estate development, whereas Indiabulls Housing Finance Ltd is engaged in the business of housing finance, consumer finance, and wealth management.
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