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Indiabulls Real Estate valued at Rs 15,125 cr

December 21, 2006 13:05 IST
Indiabulls Financial Services on Thursday said leading international real estate consultancy Knight Frank has valued its real estate business at Rs 15,125 crore (Rs 151.25 billion).

According to an official release issued by the company to the BSE on Thursday, pursuant to the demerger of its real estate business to Indiabulls Real Estate (IBREL), Indiabulls had signed up Knight Frank to do the valuation.

Knight Frank has estimated the present value of 100 per cent of the six development projects, in which IBREL is involved, at Rs 21,569 crore (Rs 215.69 billion).

The total present value of IBREL's effective ownership in project companies undertaking the proposed development is Rs 15,125 crore.

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