Buy Indiabulls Real Estate With Target Of Rs 134

Buy Indiabulls Real Estate With Target Of Rs 134Technical analyst Rajesh Satpute has maintained 'buy' rating on Indiabulls Real Estate Limited stock to attain a target of Rs 134.

According to analyst, the investors can buy the stock with a stop loss of Rs 120

Mr. Satpute added that the said target can be achieved within 2-3 trading sessions.

The stock of the company, May 02, closed at Rs 125.75 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 218.50 and a low of Rs 104.50 on BSE.

Indiabulls Real Estate has announced that its fourth quarter net profit remained at 47.30 crore.

The company, which recently de-merged its arm Indiabulls Wholesale Services, announced that its income from operations remained at 641.84 crore.

If the demerger, effectual from March 31 2011, is factored in, Indiabulls Real Estate recorded a net profit of 23.39 crore as against a net loss of 16.02 crore that the merged unit reported in financial year 2009-10.

Income for the company after the demerger stood at 561.15 crore.

In Jan-Mar quarter, the company's area under expansion grew by 2.05 million sq ft owing to fresh launches.

For the complete fiscal, overall area under development increased to 43% as against 42.5 million sq ft from a year ago to 60.92 million sq ft.

Overall sales value for the fiscal stood at 4,837 crore for a region of 5.94 million sq ft as compared to 1,405 crore for 3 million sq ft a year ago.

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