One of the penny stocks engaged in infrastructure and construction equipment leasing, along with providing LED lighting solutions and financial services. The stock has hit a 5 percent upper circuit after the company signed an MOU for a real estate project in Ludhiana, Punjab, with expected revenues of Rs. 3,500 crore.
Stock Price Movement
With a market capitalization of Rs. 414.33 crores, the shares of Indiabulls Enterprises Limited’s stock surged by 5 percent, reaching an upper circuit of Rs. 20.89 per share on Wednesday, up from its previous closing price of Rs. 19.90 per share.
What Happened
Indiabulls Enterprises Limited, through its wholly owned subsidiary, has signed a Memorandum of Understanding (MOU) with landowners to develop a real estate project in Ludhiana, Punjab.
The project will include group housing and commercial spaces and is set to cover 43.2 lakh square feet of saleable area. Expected revenues from this project are estimated at Rs. 3,500 crore over the coming years. The project will be subject to registration with the Real Estate Regulatory Authority and other necessary approvals in FY 2025-26.
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Services Offering
The company offers a diverse range of products and services, including construction and infrastructure equipment leasing and financial management and maintenance services. It also provides rental services for used construction equipment and machinery, catering to various industrial needs.
Recent Developments
Indiabulls Enterprises has recently launched a new residential project named Indiabulls Estate & Club-I in Gurugram, which consists of three residential towers comprising 387 units. The project started accepting bookings on January 14, 2025.
Recent quarter results
Indiabulls Enterprises Limited’s revenue has decreased from Rs. 15.03 crore in Q2 FY24 to Rs. 13.32 crore in Q2 FY25, which has grown by 12.84 percent. The net loss has grown from Rs. -1.84 crore in Q2 FY24 to Rs. -2.13 crore in Q2 FY25.
Written By – Nikhil Naik
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