INDIABULLS LIMITED

Operates a diversified group built around a real-estate development business that generated 30.3% of FY26 segment revenue and about 80% of group profit, with a contracted gross development value (GDV) pipeline of ₹21,000+ crores spread over 1.1+ crore sq ft of sellable area across Gurugram, Mumbai and Ludhiana. Q4 FY26 was the first quarter of real-estate revenue recognition, and 21.6 lakh sq ft was sold in FY26 with about 40 lakh sq ft scheduled for launch in FY27 at a GDV of ₹6,000+ crores. A financial-services vertical runs on a capital-light model: broking and securities trading contributed 14.0% of FY26 revenue and a PBT of ₹28 crores; an asset reconstruction business holds ₹3,794 crores of allocated AUM and ₹622 crores of fee-paying AUM and contributed 20.1% of revenue; and a legacy NBFC loan book of around ₹1,000 crores is being run down with no fresh disbursements. An equipment-renting service contributed 4.4% of FY26 revenue, while "Others" (7.2%) covers digital payment platforms and remaining businesses. The group holds ₹750 crores in cash, carries zero debt across all businesses, and exited digital lending and e-commerce after a three-year restructuring that merged 17 entities into the listed entity in December 2025.