Indiabulls Real Estate loss widens to Rs 1,038 cr in FY24

New Delhi: Indiabulls Real Estate Ltd (IBREL) has posted a widening of consolidated net loss at Rs 1,038.65 crore for the last fiscal year.

Its net loss stood at Rs 608.38 crore in 2022-23.

Total income also fell to Rs 468.75 crore during 2023-24 from Rs 648.47 crore in the preceding year, according to a regulatory filing on Friday.

IBREL's net loss in the March quarter FY24 narrowed to Rs 302 crore from Rs 375.99 crore in the year-ago period.

Total income fell to Rs 39.54 crore in the quarter from Rs 132.91 crore in the year-ago period.

Mumbai-based IBREL is one of the leading real estate developers in the country.