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Indiabulls Real Estate to acquire leasable area of ~2.5lakh sq.ft in Gurugram
Indiainfoline.com  |  January 12, 2018

India Infoline News Service Mumbai

Indiabulls Real Estate Ltd, through its wholly owned subsidiary Yashita Buildcon Ltd, has entered into a binding and definitive agreement to acquire a prime  and newly constructed commercial building, having leasable area  of Rs 2.5lakh sq.ft in Gurugram.

 

The deal is expected to get completed in 3 to 4 months when the occupation certificate of the building would be received. The said building is situated at a developed prime commercial location, where many leading multi nationals are operating in the vicinity.

 

The company’s annuity income from rental portfolio was Rs540cr in FY17 (23% of its total revenues). The company expects its annuity income to grow to Rs1,450cr by FY20-21. As of Q2FY18 the company had a total developmental area of 33.91mn sq.ft and leasable area of 8.85mn sq.ft.

 

Indiabulls Real Estate Ltd ended at Rs260, up by Rs4.4 or 1.72% from its previous closing of Rs255.6 on the BSE.