Please find enclosed the transcript of conference call on financial results for the quarter and financial year ended March 31, 2026.
IBULLSLTD · price
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Indiabulls Limited reported FY26 revenue of INR880.78 crores and PAT of INR346 crores, with Q4 FY26 contributing INR418.39 crores revenue and INR194.26 crores PAT. The company, which completed a major restructuring including merger of 17 entities and was renamed in December 2025, operates in two main verticals: Real Estate and Financial Services. Real estate is the dominant earnings driver with a total GDV potential of INR21,000+ crores across 1.1+ crore square feet. Management guided that real estate profits will grow at least 2x in FY27 and 3x in FY28, with long-term targets of INR1,000-1,500 crores PAT in 5-7 years. The company is net cash positive with INR750 crores cash on hand and zero debt across all businesses. Key projects include Indiabulls Tower in Mumbai expected to generate INR100-120 crores annual rental income. The NBFC loan book of ~INR1,000 crores is in run-down mode with ~1% NPA.
The earnings call shows a restructured company with clean balance sheet, zero debt, and strong real estate pipeline providing multi-year growth visibility. Management provided specific profit growth targets but some management commentary (rental income guidance) required corrections in the transcript annotations.