Indiabulls is happy to announce the reverse merger of Indiabulls Financial Services Limited (IBFSL) with Indiabulls Housing Finance Limited (IHFL). This is registered as Housing Finance Company (HFC) and is regulated by the National Housing Bank (NHB).
The share swap ratio among the stake holders in the two companies has been fixed at 1:1
Announcing the reverse merger, Mr Gagan Banga, CEO of IHFL said: "The Union Finance Minister's budgetary proposal to allow additional tax deductions for the first time home buyers has given a new impetus to the real estate sector and we see this as a great opportunity for home loan companies to contribute to the nation's growth."
The amalgamation will enable efficient utilization of the company's capital, consolidating it into the Housing Finance Company where most of the incremental mortgages business was being booked. This amalgamation underlines the company's long term commitment to the mortgage finance business.
Going forward IHFL will be planning to offer a wider range of innovative products on Housing Finance, especially for the affordable segment below Rs. 25lakhs.
Indiabulls is the second largest Housing Finance Company on profitability and third largest mortgage player in the industry. It has so far assisted nearly one Lakh customers to own a home of their own. As a young new generation housing finance company, it has made rapid strikes in a short span.
For the 9M ending December 31, 2012 the company's assets under management (AUM) stood at Rs. 32,551 Crs, up from Rs. 27,521 Crs as on March 31 2012. For the same 9M period the company clocked a PAT of Rs. 898 Crs. The PAT for the entire FY 2012 was Rs. 1,006 Crs.
Mumbai, July 20, 2012: Indiabulls Housing Finance (IHFL), one of India's leading and fastest growing private sector NBFCs, today announced the unaudited results for the first quarter ended June 30, 2012.
The Consolidated Total Revenues for the quarter ended June 30, 2012 stood at Rs. 1,056.4 crores, in comparison to Rs. 840.1 crores for the same period last year, registering a growth of 25.7%. Profit Before Tax (PBT) for Q1 FY 12-13 stood at Rs. 351.9 Crores, up by 17 % from Rs 300.7 Crore for the comparative period last. Profit After Tax (PAT) for Q1 FY 12-13 stood at Rs. 267.6 Crores, up by 20.5 % from Rs 222 Crore for the comparative period last year due to continual growth in home loans segment.
Assets Under Management (AUM) have reached Rs. 29,398 Crore in this quarter. Long-term, low-risk mortgage loans’ contribution remains steady at 71% of the total assets.
Commenting on IHFL’s performance, company's Chief Executive Office, Mr. Gagan Banga said, “The mortgage business of our company showed steady growth in this quarter. The overall growth in disbursements of home loans has been satisfactory. Our mortgage business continues to show steady growth. IHFL managed to cope well with the volatility of the financial sector. We saw a healthy growth in our Balance Sheet without compromising the quality of the loan book.”
“The company's book has been growing on a net basis. Net of repayments and prepayments for the last three years are at quarterly growth rate of Rs 2,000 Crore. Gross disbursement numbers are steady at Rs 3,500 Crore” said Mr. Banga.
Low-risk mortgage portfolio of IHFL increases the asset base. The percentage of Net (0.33 %) and Gross (0.8 %) NPA are low, showing very low incremental delinquencies in portfolio.
Indiabulls Housing Finance (IHFL) has received the Stock exchange clearance for its proposed reverse merger with its wholly owned subsidiary Indiabulls Housing Finance Limited (IHFL). The Scheme of Arrangement involving this reverse merger has been filed with the Hon’ble High Court of Delhi.
“In the start of the year we have announced that we would do a reverse merger of Indiabulls Financial Services with its 100% subsidiary Indiabulls Housing Finance Ltd. The name of the listed company would change from Indiabulls Financial Services to Indiabulls Housing Finance,” said Mr. Banga.
Indiabulls Financial Services was one of the first housing finance companies to reduce the rate of interest (ROI) for home loans after RBI’s announcement of slash in interest rate. Indiabulls Financial Services reduced the ROI by 25 basis points in Q1 FY 12-13 and will continue to similarly adjust PLR to maintain spreads.
Institute of Public Enterprise (IPE) conferred Indiabulls Financial Services for its human resource practices with the prestigious “Best Employer Brand” award in a ceremony held at Taj Lands End, Mumbai on June 30, 2012.
Key Financial Highlights: Q1 2012-13
Year-on-Year (Y-o-Y) Comparison* – Q1 FY 12-13 v/s Q1 FY 11-12
|Q1 FY 12-13||Q1 FY 11-12||Growth|
|Total Revenues (Rs. Cr.)||1,056.4||840.1||25.7%|
|NII (Rs. Cr.)||462.7||429.6||7.7%|
|PBT (Rs. Cr.)||351.9||300.7||17%|
|PAT (Rs. Cr.)||267.6||222.0||20.5%|
Results at a Glance
Q1 FY 13
Mumbai, 28th April 2012: Today Indiabulls Power Ltd announced its audited results for the year ended March 31, 2012.
Key Highlights FY12: Indiabulls Power Ltd
During the financial year 2012, Indiabulls Power’s results reflected a strong financial and operational performance. Revenues for FY12 were up by 1500% and stood at Rs. 167.84 Crores as compared to Rs. 44.58 Crores in FY11. PAT increased by 1504% to Rs. 87.58 Crores as against Rs. 5.46 Crores registered in the last financial year.
PBT for the FY12 is up by 1939 % at Rs. 123.8 Crores as compared to Rs. 6.07 Crores in the last financial year.
Total capacity under execution for Indiabulls Power Ltd. Is currently 5400 MW which include two power projects,
All four projects aggregating 5400 MW have achieved financial closure.
Total loans and payments made through letters of credit are Rs. 5,095.66 crores as on March 31, 2012 as against Rs. 3,738.50 crores as on December 31, 2011.
Composite Scheme of Arrangement under sections 391-394 of the Companies Act, 1956 by and among the Company, Indiabulls Infrastructure Development Limited (IIDL) and their respective shareholders and creditors, for amalgamation of IIDL with the Company, has been approved by respective shareholders and creditors on March 03, 2012 and the aforesaid approval has been filed before Hon'ble High Court of Delhi for its approval. The merger of IIDL with the Company would enhance the net worth of the Company by approximately Rs 1,045 crores
Results at a Glance
Q4 FY 12
Mumbai, April 27, 2012: Indiabulls Housing Finance (IHFL), one of India's leading and fastest growing private sector non-banking financial services & Housing Finance Company, today announced the unaudited results for the third quarter & year ended March 31, 2012.
The Consolidated Total Revenues for the year ended March 31, 2012 stood at Rs. 3,846.3 crores, in comparison to Rs. 2,510.0 crores for the last year, registering a growth of 53 %. Profit After Tax (PAT) for Q4FY12 stood at Rs. 303.0 Crores, up by 24% from Rs 243.7 Crore for the comparative period last year. The consolidated Profit After Tax (PAT) for FY12 stood at Rs. 1,006.4 Crores, up by 33 % from Rs. 759.1 Crore for FY 11 due to sustained growth in home loans segment.
In order to augment the capital required for business growth over next few years, the Board at their meeting held on April 27, 2012 has approved the proposal to issue and allot to promoter entities and to key managerial personnel, upto 2.07 crore warrants convertible into 2.07 crore equity shares each of the Company at a conversion price of Rs. 218/-, in accordance with the applicable laws and guidelines (“Warrants”). The aggregate funds receivable by the Company, pursuant to the conversion of the Warrants, would be Rs 451.26 crores.
The Board has decided to restructure the business of Indiabulls Housing finance (IHFL) by way of its reverse merger with its wholly owned subsidiary, Indiabulls Housing Finance Limited (IHFL), a Housing Finance Company (HFC) registered with NHB.
Majority of the existing and incremental business of IBFSL relates to housing finance and all other companies with similar asset profile and business are already licensed as HFCs. Amalgamation with IHFL will consolidate the capital available to the merged HFC entity, enabling it to steadily grow its mortgage loans business.
Consequent to the Scheme becoming effective, upon sanction by Hon’ble High Court of Delhi and other regulatory and stakeholder approvals, the shareholders of IBFSL will get 1 (one) equity shares of Rs. 2/- each of IHFL for every 1 (one) equity share of Rs. 2/- each held by them in IBFSL. The appointed date of the Amalgamation is April 1, 2012.
EPS for FY12 has increased by 34 % at Rs. 32 as compared to Rs. 23.9 in FY11. Assets Under Management (AUM) have reached Rs. 27,521 Crore in this quarter.
Commenting on IHFL’s performance, company's Chief Executive Office, Mr. Gagan Banga said, “Our mortgage business is showing steady growth. Profit After Tax for FY12 has crossed Rs. 1000 Crores. Assets have grown at a quarterly average of approx Rs. 2,000 Cr over the course of the last 10 quarters. The dividend of Rs. 7/- is proposed in Q4 taking total dividend for FY12 to Rs.13/- per share.”
Key Financial Highlights: FY 2011-12
|FY 11-12||FY 10-11||Growth|
|Total Revenues (Rs. Cr.)||3,846.3||2,510.0||53%|
|NII (Rs. Cr.)||1,866.0||1,539.7||21%|
|PBT (Rs. Cr.)||1,321.9||999.7||32%|
|PAT (Rs. Cr.)||1,006.4||759.1||33%|
Year-on-Year (Y-o-Y) Comparison* – Q4 FY 11-12 v/s Q4 FY 10-11
|Q4 FY 11-12||Q4 FY 10-11||Growth|
|Total Revenues (Rs. Cr.)||1,121.7||772.4||45%|
|NII (Rs. Cr.)||544.5||430.6||26%|
|PBT (Rs. Cr.)||375.1||251.2||49%|
|PAT (Rs. Cr.)||303.0||243.7||24%|
* Due to change in clause 41 format as issued by SEBI, the figures stated in the Earnings Update exclude profit/ (loss) of associates
|Total Revenues (Rs. Cr.)||84.08|
|PBT (Rs. Cr.)||20.12|
|PAT (Rs. Cr.)||13.70|
Mumbai, 30th April 2012: Today Indiabulls Wholesale Services Ltd. (IWSL) announced its audited results for the year ended March 2012.
The total consolidated revenues of IWSL for the financial year ended March 2012 showed growth & stands at Rs. 84.08 Crores.
Total consolidated Profit Before Tax for FY 12 stood at Rs. 20.12 Crores.
The consolidated net profit for FY 12 stood at Rs. 13.70 Crores.
Consolidated Sales for FY 12 stood at 81.61 Crores.
The EPS for FY 12 is seen at Rs. 2.70.
|Total Revenues (Rs. Cr.)||199.52|
|PBT (Rs. Cr.)||(-) 6.94|
|PAT (Rs. Cr.)||(-) 10.25|
|Basic EPS (Rs.)||(-) 0.44|
Mumbai, 30th April 2012: Today Indiabulls Securities Ltd. (ISL) announced its audited results for the year ended March 2012.
The total consolidated revenues of ISL for the financial year ended March 2012 stands at Rs. 199.52 Crores.
Total consolidated Profit Before Tax for FY 12 stood at Rs. (-) 6.94 Crores.
The consolidated net profit for FY 12 stood at Rs. (-) 10.25 Crores.
The Basic EPS for FY 12 is seen at Rs. (-) 0.44.
Mumbai, April 25, 2012: Indiabulls Real Estate Ltd, one of the largest listed real estate developers in India, today announced the audited results for the financial year ended March 31, 2012.
The company's net profit after tax (PAT) rose to Rs. 57.78 Crore in Q4 FY 12 from Rs. 41.52 Crore in Q3 FY 12, the preceding quarter. The Income from Operations grew to Rs. 445.2 Crore in Q4 FY 12, from the Rs. 356.3 Crore for the last quarter.
Total Area Under Development (AUD) Increased by 10.63 msft aggregating total AUD to 71.55 msft as on March 31, 2012. While Area Under Construction (AUC) Increased from 17.04 msft in FY 11 to 17.17 msft (103 towers across India) in FY 12.
The total land acquired in Q4 FY 12 is 334.40 Acres. Total land acquired in FY 12 is 420.47 Acres in Mumbai Metropolitan Region (MMR) and National Capital Region (NCR). The present land bank of Indiabulls Real Estate is 836.03 acres in high demand centres of Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Chennai
Total sales for the year FY12 is Rs. 1,982.04 Crores for an area of 3.54 msft. New Leased area in Q4 FY 12 is 62,299 sft and total new leased area in FY12 is 0.60 msft. Total leased area stands at 2.21 msft as on March 31, 2012.
Key Financial Highlights: Q4 FY 12
|Q4 FY 12||Q3 FY 12|
|Income from Operations (Rs. Cr)||445.2||356.3|
|PBT (Rs. Cr)||60.8||70.0|
|PAT (Rs. Cr)||57.7||41.5|
|Basic EPS (in Rs.)||1.17||0.9|
Indiabulls Housing Finance Q2’ FY 11-12 profit up 33%
Announces Interim Dividend of 300%
Mumbai, October 21, 2011: Indiabulls Housing Finance (IHFL), one of India's leading private sector non-banking financial services company, today announced the unaudited results for the quarter ended September 30, 2011.
The Consolidated Total Revenues stood at Rs 912.7 crores in Q2 FY 2011-2012, up by 57% from Rs 581.4 crore in quarter ended on September 30, 2010 while the Profit After Tax (PAT) is at Rs.231.38 Crores, up by 33% from Rs 174.46 crore in the same period last year. The board of directors recommended interim dividend of 300% at Rs. 6/- per share of face value of Rs 2/-.
Commenting on the results and financial performance, Mr Gagan Banga, CEO, Indiabulls Housing finance said, “Indiabulls Housing Finance has witnessed steady asset growth backed by disbursals of long-duration mortgage loans, especially Home Loans to the salaried segment. AUM has grown at a quarterly average Rs. 2,000 Cr over the last 8 quarters. Indiabulls continues to make steady progress on the liabilities front as well and for the first time, issued 10 year NCD bonds. The contribution of short-term money is at 13%, and continues to be below the target limit of 15%. The company continues to be very strongly capitalized; with a net gearing of 3.55, it is one of the best capitalized companies amongst its HFC & NBFC peers.”
Assets under Management is at Rs. 23,792 Cr as on Sep 30, 2011. This is a 56.6% Y-o-Y growth. Further, the mortgage loans backed growth has led to a sharp decrease in incremental delinquencies leading to an eighth continuous quarter of fall in gross and net NPA levels.
The contribution of long-term, low-risk mortgage loans remains steady at 71% of the total assets. Home loans, which form the majority of incremental disbursals, are disbursed at an average ticket size of Rs. 23 lacs; average LTV of 64% at origination, for an average term of about 13 years. The company continues to witness improving operational efficiency, with the cost to income ratio further declining to below 19%.
Amongst its lenders, the company now counts 60 strong relationships: 22 PSU banks, 14 Private and Foreign banks and 24 other Mutual Funds, Provident Funds, Pension Funds and Insurance Companies.
|Quarter Y-O-Y||Q2 FY 11-12||Q2 FY 10-11||Y-o-Y Growth|
|Total Revenues (Rs. Cr.)||912.70||581.44||56.9%|
|NII (Rs. Cr.)||441.03||379.10||16.3%|
|PBT (Rs. Cr.)||311.24||251.01||24.0%|
|PAT (Rs. Cr.)||231.38||174.46||32.6%|
|Half Yr Y-o-Y||H1 FY 11-12||H1 FY 10-11||Y-o-Y Growth|
|Total Revenues (Rs. Cr.)||1,752.87||1,052.53||66.5%|
|NII (Rs. Cr.)||870.57||693.96||25.4%|
|PBT (Rs. Cr.)||611.91||450.81||35.7%|
|PAT (Rs. Cr.)||453.36||308.04||47.0%|
Indiabulls Housing Finance Ltd (IHFL), the home loan subsidiary of Indiabulls Housing finance, has undertaken a major revamp of its Board of Directors. It has inducted three new members with significant sector experience in order to strengthen the overall governance and also to lay added stress to its home loan business. Mr. Ajit Mittal, who has more than two decades of experience in senior management positions with the country’s central bank, has joined the Board as non executive Chairman. Mittal has been handling strategic issues in the regulatory domain for the Indiabulls group for almost four years. Mr. Gagan Banga, already on the Board of IHFL, has been designated Vice Chairman. Banga has been the CEO of the parent company, IBFSL. Mr Ashwani Hooda, with more than 12 years of experience in Retail Mortgage Finance, has also joined the Board as Managing Director. Hooda previously worked with the housing finance major HDFC. Yet another addition is that of Mr. Ram Kumar, who brings over thirty years of experience in the banking industry, particularly in setting up compliance system and processes, and forensic audit.
These changes reflect management’s serious resolve and commitment to steer IHFL towards the path of professional excellence. In keeping with its thrust and focus on housing finance business, the induction of these professionals on the Board will provide a renewed vision and strategic thrust to the company in its endeavour to transform itself in to a cutting edge mortgage institution.
Mumbai, July 22, 2011: Indiabulls Real Estate Ltd, one of the largest listed real estate developers in India, today announced the audited results for the first Quarter FY 11-12.
The Total Consolidated Income rose to Rs. 383.46 Crore in Q1 of FY 11-12 from Rs. 192.23 Crore in Q1 of FY 10-11. Company's net profit rose to Rs.102.24 Crore in Q1 of FY 11-12 from Rs. 25.17 Crore for the same period the preceding year.
Total sales for the Q1 FY 11-12 rose to Rs.379 Crores for an area of 0.78 msft from Rs. 310 Crores for an area of 0.69 msft for the same period preceding year.
New Leased area in Q1 FY ’12 is 171,016 sqft. That brings the total leased area to 1.78 msft as on 30th June 2011.
The Net Area Under Development (AUD) increased by 2.57 msft (QoQ) due to new launches, aggregating total AUD to 62.64 msft. Net Area Under Construction (AUC) increased by 0.98 msft (QoQ), aggregating total AUC to 17.17 msft.
Profit & Loss Summary – Q1 FY ‘12
|Q1 FY 11-12||Q1 FY 10-11|
|Total Income (Rs. Cr.)||383.46||192.23|
|Income from Operations (Rs. Cr)||241.92||171.68|
|PBT (Rs. Cr)||132.86||37.83|
|PAT (Rs. Cr)||102.24||25.17|
|Basic EPS (in Rs.)||1.58||0.46|
** All the numbers relating to Area Under Development, Sales and Area Under Construction is without IWSL which has been demerged.
Mumbai, July 21, 2011: Indiabulls Housing Finance (IHFL), one of India's leading and fastest growing private sector non-banking financial services company, today announced the unaudited results for the quarter ended June 30, 2011.
The Consolidated Total Revenues stood at Rs 840.20 crores in Q1 FY 2011-2012, up by 78% from Rs 471.09 crore in quarter ended on June 30, 2010 while the Profit After Tax (PAT) was at Rs. 222. Crores, up by 66% from Rs 133.58 crore in the same period last year, thanks to sustained momentum in home loans segment.
During the quarter ended on June 30, the PBT figure for Q1 was Rs 300.70 crore, up by 50% from Rs Rs 199.80 crore in the same period last year.
Commenting on IHFL's performance, the company's Chief Executive, Gagan Banga said, "Our Home Loans business is showing a steady rise and is the major contributor to our asset growth quarter-on-quarter. Liabilities management has continued to be the strength of the company with a diversified liability profile and long-duration loans to mirror the long-term mortgage assets.”
To maintain stable spreads in a rising interest rate environment, the company increased its retail PLR by 50 bps and non-retail PLR by 75 bps in Q1, 2011 and will continue to similarly adjust PLR to maintain spreads.
The company has continued to maintain the levels of short-term money at 12%, well within its target limit of 15%. The company continued to witness improving operational efficiency, with the cost to income ratio further declining to 19%, compared with 24% in the quarter ended on June 30, 2010.
Long-term, low-risk mortgage loans’ contribution has increased to 71% of the total assets.
Year-on-Year (Y-o-Y) Comparison – Q1 FY 11-12 v/s Q1 FY 10-11
|Q1 FY 11-12||Q1 FY 10-11||% CHANGE|
|Total Revenues (Rs. Cr.)||840.17||471.09||78.13%|
|NII (Rs. Cr.)||375.12||265.45||41.31%|
|PBT (Rs. Cr.)||300.67||199.8||50.48%|
|PAT (Rs. Cr.)||221.98||133.58||66.17%|
|Net NPA %||0.37%||0.90%|
|Gross NPA %||1.00%||1.74%|
|Cost / Income %||19.00%||23.90%|
|Loan Book (Rs. Cr.)||20,788||12,535|
Mumbai, April 30, 2011: Indiabulls Real Estate Ltd, one of the largest listed real estate developers in India, today announced the audited results for the financial year ended March 31, 2011.
The company's net profit after rose to Rs. 201.32 Crore (including Indiabulls wholesale services ltd.) in FY 10-11 from Rs. 6.75 Crore in FY 09-10, the preceding year. Total revenue grew to Rs.1513.21 Crore in FY 10-11, from the Rs.129.36 Crore for the last financial year.
IBREL has proposed 15% final dividend in the meeting.
The total land acquired by IBREL in FY 11 is worth Rs. 2,339.83 Crores for 192.75 Acres, including Rs. 2,078 Crores for Bharat and Poddar Mills bought in NTC Auction, as against Rs.133.38 Crores for 76.63 Acres in FY 10.
Total Area Under Development (AUD) Increased by 43% from 42.6 msft in FY 10 to 60.92 msft in FY 11 due to new launches, While Area Under Construction (AUC) Increased by 91.46% from 8.9 msft in FY 10 to 17.04 msft in FY 11. This figure of AUC is net of handovers in FY 11.
Total sales for the year FY11 is Rs. 4,837 Crores for an area of 5.94 msft as against Rs. 1,405 Crores for 3 msft in FY 10, thus an increase of 244.27% and 98% respectively in sales value and the area sold is seen. New Leased area in FY 11 is 0.91 msft as against 0.70 msft in FY10 results in an increase of 31%. Total leased area as on 31st March 2011 stands at 1.61 msft.
Indiabulls Real Estate has been assigned A+ (Single A Plus) rating for its long term debt (Term Loans and NCDs) and PR 1+ (PR One Plus) rating for its short-term facilities for tenure up to one year. (This is the highest rating that can be assigned for short-term debt.)
Mumbai, April 22, 2011: Indiabulls Housing Finance (IHFL), one of India's leading and fastest growing private sector financial services company, today announced the unaudited results for the financial year ended March 31, 2011.
The Consolidated Total Revenues stood at Rs.2,509.96 crores up by 53.5% while the Profit After Tax was at Rs. 750.92 crores, up by 144% as on March 31st, 2011 as compared to March 31st, 2010. The Directors have recommended final dividend of Rs 5 (250%) per share of face value of Rs 2/- Proposed total dividend for FY 2010-11 (including interim dividend of Rs. 5/- already paid) is Rs. 10/- (500%) per share of face value of Rs 2/-. EPS is at Rs.23.86 up by 140% from Rs. 9.94 FY 09-10.
Return on Equity (ROE) has grown to 17%. Capital Adequacy is 20.09% as of March 31, 2011.
The Company has seen six quarters of continuous reduction in Gross and Net NPA levels as low-risk mortgage portfolio increases the asset base, while contributing very low incremental delinquencies. The Gross NPA stood at 1.03% and Net NPA stood at 0.38%. Total provisions were 4.19 times the regulatory requirement
On the back of a strong and steady demand for Home Loans the company has seen sustained growth in its Assets Under Management by an average of Rs. 2,200 Cr per quarter for the last 4 quarters. Loan Assets have grown to Rs 19,796 crores as of March 31, 2011. Long-term, Low-risk Mortgage Loans constitute 71% of the Asset Book.
Commenting on IBFSL's performance, the company's Chief Executive Office, Gagan Banga said,"Our continued focus on low risk mortgage loans, diversified & long duration liability base, reduction in cost-income ratio and lower delinquency levels has helped company post higher revenues and profits in FY 2010-11.This is a welcome indication of our magnitude in terms of growth and sustenance in this highly competitive market. The Company has a consistent record in providing its customers the very BEST by offering competitively priced loans, quick and effective customer service and information flow at all times."
Key Financial Highlights: FY 2010-11 and Q4
|FY 10-11||FY 09-10||Q4 10-11|
|Total Revenues (Rs. Cr.)||2,509.96||1,635.04||772.38|
|PAT (Rs. Cr.)||750.92||307.48||236.13|
Indiabulls Mutual Fund, sponsored by Indiabulls Housing Finance (IHFL) has got final approval from Securities & Exchange Board of India to launch its mutual fund business.The company plans to hit the market with its maiden offering in both equity and fixed income segment in a couple of months. It is at an advanced stage of operational preparedness with almost the entire research and operations team in place, and is currently working on the initial product profile.
IBFSL, one of the largest NBFCs in the country with an asset book of close to Rs 20,000 crore and a net worth of Rs 4500 crore, has a strong country wide presence in its lending business. It considers mutual funds business a natural extension of its existing financial services business. Given the opportunity Indian markets offer, Indiabulls Mutual Fund would be retail focused, targeting India’s growing investor base.
Indiabulls Real Estate introduces customer-centric e-channel, standardizing, and simplifying access to any information for the customer. Achieving company’s growth objectives called for highly efficient operations, superior service and easy-to-use customer interaction channels that could create satisfying customer experiences.
Thus Indiabulls Real Estate new Customer Login Page provides a central consolidated platform which captures data from the company's core systems and allows it to be easily formatted and routed into multiple customer communication channels such as print, web, email and SMS
The Customer Login Page is available as a fully managed service with tabs like ‘Applicant Details’, ‘Account Details’ and ‘Edit Profile’ that permits easy supervision of one’s own account and profile by the customer. While direct links to ‘Payments’, Property Details’ and ‘Construction Updates’ helps our customers not only know about our properties and current status of ongoing projects but ‘New Project Launched’ link also allows customer access to information on Indiabulls latest new project offerings.
Similarly ‘FAQ’ segment can help resolve some of the common queries of the customers while ‘Raise a Query’ link can address customer’s specific questions. The important feature of the new portal is that it allows customer’s all information at his fingertips strengthening customer relationship through transparency, and anytime access to project related information.
Undeniably this new enterprise would not only provide a valuable and time-saving tool for customers but also allow the company, further develop its customer relationship identifying additional growth opportunities.
To know more about the initiative visit https://erealty.indiabulls.com
Indiabulls Real Estate has been assigned A+ (Single A Plus) rating for its long term debt (Term Loans and NCDs). Indiabulls Real Estate is one of the only two listed real estate majors in the country, and the only one among the new generation realty players to have been assigned this rating. The rating denotes that company's facilities/instruments are 'low credit risk' and offer adequate safety for timely servicing of debt obligations.
In addition, Indiabulls Real Estate has also been assigned a PR1+ (PR One Plus) rating for its short-term facilities for tenure up to one year. This is the highest rating that can be assigned for short term debt and indicates strong capacity for timely payment of short term debt obligations and carry 'lowest credit risk'. And within this category too, Indiabulls Real Estate's short term facilities have been found to have relatively better credit characteristics.
The ratings are a reflection of Indiabulls Real Estate's strong fundamentals, execution track record, and low gearing which have manifested in good visibility of earnings. The rating draws strength from Indiabulls Real Estate’s recognized brand name, favourable capital structure and comfortable liquidity position. It's pan India presence, increased scale of operations, the size and quality of its land bank most of which has been paid for and healthy booking and leasing status are some of the other factors that testify to Indiabulls Real Estate's earning potential.
Mumbai, Jan 21, 2011: Indiabulls Housing Finance (IHFL), one of India's leading and fastest growing private sector financial services company, today announced the unaudited results for the quarter ended December 31, 2010.
The Consolidated Total Revenues stood at Rs. 685 crores in Q3 FY 2010-2011 while the Profit After Tax was at Rs. 206.75 crores on the back of sustained momentum in long duration loan mortgage loans resulting in steady asset growth and a consistent increase in Net income.
Loan Assets have grown 12.37% to Rs 17,069 crores as of December 31, 2010 from Rs 15,189 crores in September 30, 2010. The company's focus on home loans has resulted in sustained asset growth and increase in composition of low-risk mortgage loans to 71% of the assets. The Net Interest Income (NII) for the current quarter was at Rs 353 crores up 15.2% from Rs 306 crores as of December 31, 2010.
The figures for Q3 FY 11 include a one-time gain of Rs. 21.35 from a 26% sale of stake in Indian Commodity Exchange ltd (ICEX). The PBT figure for Q3 is after a one time charge of Rs 33.19 cr towards 0.25% provision on 'Standard Asset' forming part of existing portfolio of the company.
The company continues to expand its branch network and now has over 150 branches spread across 18 states.
Commenting on IBFSL's performance, the company's Chief Executive Office, Gagan Banga said, "The Company continues to witness strong and steady demand for Home Loans. Focus on Home Loans has resulted in sustained asset growth, the composition of low-risk mortgage loans remains steady at 71% of the assets.
To maintain stable spreads in a rising interest rate environment, the company increased PLR by 75 bps in Q3 and will continue to similarly adjust PLR to maintain spreads."
Q3 FY 10-11 Key Financial Highlights
|Q3 FY 10-11||Q2 FY 10-11||9M FY 10-11|
|Total Revenues (Rs. Cr.)||685.05||581.44||1,737.58|
|PBT (Rs. Cr.)||297.11||251.01||747.92|
|PAT (Rs. Cr.)||206.75||174.46||514.79|
9M FY 10-11 Key Financial Highlights (9M FY 10-11 v/s 9M FY 09-10)
|9M FY 10-11||9M FY 09-10|
|Total Revenues (Rs. Cr.)||1,737.58||1,207.17|
|PBT (Rs. Cr.)||747.92||313.72|
|PAT (Rs. Cr.)||514.79||213.11|
Mumbai: Indiabulls Real Estate, one of India's largest listed developers, today, announced its financial results for the quarter ended December 31, 2010.
The company's net profit rose to Rs.78.38 crore from the Rs.9.9 crore in the corresponding quarter in the preceding year. Total revenue grew to Rs.399.6 crore from the Rs.37.46 crore for the same period last year.
During the last quarter, the company paid Rs 2,150 crore for the acquisition of land including Bharat and Poddar Mills at Worli, Mumbai. The company has been assigned A+ rating.
The company handed over 0.55 msft project in the quarter. The Net Area Under Development (AUD) increased by 2.38 msft (QoQ) due to new launches, aggregating total AUD to 59.52 msft. The company has an additional total land bank of 3,111 acres.
Q3 FY 11 Highlights
|Q3 FY 10-11||Q2 FY 10-11||Q3 FY 09-10|
|Income from Operations (Rs. Cr.)||399.6||300.0||37.46|
|PBT (Rs. Cr.)||132.0||89.73||8.34|
|PAT (Rs. Cr.)||78.38||50.46||9.90|
|Basic EPS (in Rs.)||1.85||1.21||0.01|
Indiabulls Power Ltd, a company promoted by Indiabulls Real Estate, has been assigned a rating of “BBB” (pronounced Triple B) by the credit rating agency ICRA. The rating denotes a “stable outlook” for the company given the buoyant prospects for the power generation business and progress made in tying up domestic coal supply at remunerative prices giving Indiabulls Power a competitive edge. The rating also factors in the progress made in implementation of its 1350 Amravati Phase 1 Thermal Power project. The rating also takes into account all the key approvals/clearances, securing of financial closure, signing of power transmission agreements with MSETCL, acquisition of entire land required, and other key factors that augur well for the long term prospects of Indiabulls Power.
The company has also been assigned ‘BBB” rating by another credit rating agency, CARE, for its loan facilities of tenure of more than one year. The rating which denotes a moderate safety for the timely servicing of its debt obligations, has taken in to account the same positive factors relating to the project as mentioned above.
Similarly, Indiabulls Realtech Ltd, a 100% subsidiary of Indiabulls Power implementing the 1350 MW Thermal Power project at Nasik, has also been assigned a credit rating of ‘BBB” by CARE for its loan facilities of tenure of more than one year. The rating factors in the financial strength and resourcefulness of the promoter group, achievement of financial closure and high degree of project preparedness in terms of availability of land, long term coal linkages, upfront equity infusion, receipt of statutory approvals etc.
In line with our objective to unlock shareholders’ value, Board of Directors of Indiabulls Real Estate Ltd (IBREL) have given their go ahead to the proposal to hive off its power and infrastructure business into a separate holding company called Indiabulls Infrastructure and Power Ltd (“IIPL”). As per the scheme, Power Business of Indiabulls Real Estate along with its 58.6% of the equity shareholding of Indiabulls Power, will vest with Indiabulls Infrastructure & Power on a going concern basis. After the proposed scheme gets the requisite approval from the shareholders and Hon’ble High Court of Delhi, each shareholder of Indiabulls Real Estate will get 2.95 equity shares of Indiabulls Infrastructure & Power for every share of Indiabulls Real Estate held by them. The scheme basically aims at crystallizing the valuation of Indiabulls Real Estate’s Power Business in the hands of its ultimate beneficial owners, i.e. Indiabulls Real Estate’s shareholders. The restructuring shall be implemented in terms of a composite scheme of arrangement under the provisions of Sections 391-394 of the Companies Act, 1956.
Indiabulls Securities Ltd launches its mobile trading platform “Tradelite”. The platform will be available for trading on BSE. This platform will allow Indiabulls customers to buy or sell stocks through their mobile phones.
Using "Tradelite" customer’s can place market orders from anywhere and even when they are on the move. This application has features of a normal trading platform like market rates, order book, order entry screen, Order modification/deletion, and account reports but on a smaller interface.
Indiabulls clients will be able to access “Tradelite” through GPRS enabled mobile phone by entering a dedicated URL. Indiabulls Securities has taken special care to ensure security and thus the trading platform has all 128 bit communications encrypted and certified by verisign. Along with their username and password the users will also be required to provide their second level transaction password through a secure ID token.
Indiabulls Securities has always been at the forefront in introducing newer trading features that help our customers in getting a more evolved trading experience.
Mumbai: Indiabulls Housing Finance (IHFL), one of the leading NBFCs in the country has been assigned “CARE AA+” rating to its long term debt programme. The rating, upgraded by CARE from its earlier assigned rating of “CARE AA”, has taken into account IHFL’s strong business growth with its focus on relatively safer asset class of mortgage loans, improvement in maturity profile of its liabilities, and improvement in its profitability. In addition, the rating reflects CARE’s assessment of IBFSL’s high capitalization level, experienced management, strong franchise with a national footprint and diversified income stream.
IBFSL is one of the very few NBFCs to have been assigned this rating. Its consolidated assets under management stand close to Rs 17,000 crore as on 31st December 2010, mainly comprising mortgage financing (home loans and loans against property). Since FY 2009, the company has increased its focus on secured lending segments. IHFL also has a corporate finance portfolio, which is mainly short term secured bridge loans / project finance / and lease rentals discounting to corporate. IBFSL’s commercial vehicle (CV), which accounts for roughly 5% of the loan book, was built over the last couple of years.
In addition to the latest rating of AA+ by CARE, the company has already been assigned the following ratings:
"AA/Stable" (pronounced as "Double A rating with stable outlook") by CRISIL, a Standard & Poor’s company
"LAA"(pronounced as "L Double A") by ICRA, an associate of Moody’s, for IBFSL's NCD programme.