Indiabulls Real Estate Set To Buy 140 Acre Land At Manesar

    Date:

    Share post:

    In an effort to expand its land bank in NCR, Indiabulls Real Estate is planning to acquire 140-acre land in Manesar, Gurugram. The land will be used to develop an integrated township and commercial building.

    The Mumbai-based developer has declared in a filing to BSE that its wholly-owned subsidiary Loon Land Development Ltd has entered into the definitive agreement(s) to acquire a land parcel/development rights on the approximate 140-acre land. The land is situated at Sector 79, Manesar, Gurugram, and has been declared to be developed for the integrated township and commercial building.

    Indiabulls Real Estate has been on an uphill trend this quarter. The company recently reported a 23 percent increase in its consolidated net profit at Rs 75.91 crore for the quarter ended 30 September.  A year ago, the company’s profit stood at Rs 61.64 crore.

    In fact, the company’s net sales jumped more than twofold to Rs 1,040.41 crore for the second quarter of this fiscal from Rs 470.77 crore in the corresponding period of the previous year.

    The Manesar township will be the fourth residential project in Gurgaon by Indiabulls Real Estate after One Indiabulls, Centrum Park, and Enigma. Talking about commercial projects, Indiabulls has Indiabulls ONE09, a business destination on the Dwarka Expressway.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Related Posts

    Latest posts

    Nearly 20 Premium Malls Set to Open by 2026 in Top Indian Cities: Report

    NEW DELHI (AP) — India is poised to see a major expansion in its premium retail infrastructure, with...

    GDA to Introduce Slot System for Property Registrations in Ghaziabad

    The Ghaziabad Development Authority (GDA) will soon launch a slot-based registration system for property buyers in an effort...

    Top Seven Indian Cities See Strong Office Leasing Growth: Vestian

    India’s top commercial real estate markets witnessed robust momentum in 2024, with leasing activity and office rental rates...

    Amaravati Capital City Project Resumes After Five-Year Pause

    Construction has recommenced on the ₹65,000 crore Amaravati capital city project in Andhra Pradesh, marking a significant revival...