Indiabulls Q2 FY27 PAT More Than Doubles to ₹720.8 Cr; Real Estate GDV Pipeline Expands to ₹27,308 Cr
Indiabulls Limited reported Q2 FY27 PAT of ₹720.8 crore, a 101% YoY increase, on revenue of ₹336.4 crore (up 31% YoY). The company received ₹250 crore from its ₹1,000.07 crore equity raise. The real estate GDV pipeline expanded to ₹27,308 crore. The acquisition of Fintech Cloud Private Limited was terminated.
The substantial increase in PAT, coupled with the expansion of the real estate development pipeline and the successful equity raise, are material positive developments for the company.
The company reported significant year-on-year growth in both revenue and profit after tax. The expansion of the real estate pipeline and a strong capital adequacy ratio also contribute positively.
Indiabulls Limited announced its financial and operational results for the quarter ending September 30, 2026. The company received ₹250 crore, representing 25% of the ₹1,000.07 crore preferential capital raise, which is entirely equity-funded to support its growth pipeline. Indiabulls maintains a zero net debt position.
In its Real Estate Operations, the company added a new project on the Dwarka Expressway with a Gross Development Value (GDV) of ₹3,700 crore and a saleable area of 21 lakh sq.ft. The current portfolio comprises 13 projects with a GDV of ₹27,308 crore, spanning 133.2 lakh sq.ft. This includes ₹3,650 crore of projects launched in FY26, a FY27 pipeline of ₹11,714 crore, and a future pipeline of ₹11,945 crore. As of September 30, 2026, bookings stood at ₹3,060 crore and collections at ₹541 crore, with 1,018 units sold across 23.85 lakh sq.ft. The portfolio is diversified across NCR, Mumbai, and Ludhiana.
For Financial Services, as of September 2026, the asset reconstruction platform, IARCL, reported fee-paying Assets Under Management (AUM) of ₹588.41 crore and assets under collection of ₹4,049.81 crore. The capital adequacy ratio was 100.07%, significantly above the regulatory minimum. The broking business added 19,034 new clients, a 149% year-on-year increase, bringing the total client base to 9.8 lakh, with a client activation rate of 34.7%.
In a business update, Indiabulls Limited mutually agreed to terminate the acquisition agreement with Fintech Cloud Private Limited dated September 11, 2026. The company expects to expand its real estate development pipeline to approximately ₹30,000 crore GDV during the current quarter.
Financially, Revenue from Operations grew 31% YoY to ₹336.4 crore, and Profit After Tax (PAT) rose 101% YoY to ₹720.8 crore for Q2 FY27. For H1 FY27, Revenue was ₹720.8 crore (up 100% YoY) and PAT was ₹292.1 crore (up 297% YoY).
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