The share price of Indiabulls Real Estate jumped over 12 percent on Tuesday after the company posted robust earnings for the December quarter.
The real estate firm reported a 64 percent YoY rise in net profit at Rs 80.69 crore as against Rs 49.27 crore in the year-ago period.
The stock rose as much as 12.5 percent to Rs 87.90 per share on BSE.
However, its revenue from operations fell 41 percent to Rs 721.67 crore in Q3 versus Rs 1,232 crore last year.
During the quarter, Indiabulls Real Estate clocked new sales worth Rs 990 crore and gross collections stood at Rs 1,003 crore.
"Affordability of Real Estate is at a multi-year high with declining interest rates. We are seeing high demand for our completed products, and continue to expect robust collections for the rest of the financial year," the Gurugram-based company said after the earnings.
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