Indiabulls Real Estate profit reports 2-fold increase to Rs 141.6 crore in Q2

New Delhi: Indiabulls Real Estate on Monday reported 2-fold increase in consolidate net profit at Rs 141.6 crore for the quarter ended September.

Real Estate company's profit stood at Rs 70.63 crore in the year-ago period, the company said in a regulatory filing.

Income from operations fell to Rs 710.60 crore in the second quarter of the current financial year from Rs 722.48 crore in the year-ago period.

However, total income increased to Rs 911.91 crore for the July-September quarter from Rs 790.58 crore in the year-ago period as the company's other income rose sharply to Rs 201.31 crore from Rs 68.09 crore during the period under review.

Indiabulls Real Estate is developing 11 projects with a total saleable area of 30.51 million sq ft. It has presence in key metros of Mumbai, NCR and Chennai.

It has entered London property market through acquisition of 22, Hanover Square in Mayfair, Central London, a 87,444 sq ft commercial property in July 2014.