The acquisition would help expand the company s presence in Mumbai and is expected to lead to synergies and add value for all the stakeholders. Indiabulls Real Estate Ltd (IBREL) has posted widening of consolidated net loss at Rs 1,038.65 crore for the last fiscal year. Its net loss stood at Rs 608.38 crore in 2022-23.
Sky Forest Projects (SFPPL) owns a residential project-Sky Forest, situated in Lowel Parel, Mumbai. The acquisition will help expand Indiabulls Real Estate’s presence in Mumbai.