Indiabulls Real Estate Ltd and Embassy Group Scheme of Amalgamation

#Q3FY2023 Results

1. Area sold dropped to 0.23 (msf) – lowest in last 7 quarters. ASP is steady at Rs 8333/sq ft.
2. 2nd strong quarter of net collections (421 Cr) after the 387 Cr in Q2FY23, showing real cash is being accrued, helping towards the realization of surplus.
3. Land parcel sold at Sec 104, Project “One Indiabulls Gurugram” struck off. 18% drop in Pending costs, 25% drop in pending Surplus (compared to Q2FY23)
4. Outstanding debt dropped from 680 Cr in Q2FY23 to 370 Cr in Q3FY23.
5. Cash & equivalents of 950 Cr in hand – while pending costs for all Near completion projects is at 322 Cr.
6. Good traction from Sky Forest, Mumbai. Outstanding surplus from last 3 quarters
   Q1FY23 – 949 Cr, Q2FY23 – 654 Cr and Q3FY23 – 467 Cr