Indiabulls

What Indiabulls does

Indiabulls Limited is a publicly listed Indian conglomerate (NSE/BSE), headquartered in Mumbai, that operates across two business verticals: real estate development and financial services. The real estate business develops residential, commercial, and mixed-use projects across India (Gurugram, Kharkhoda, Ludhiana, Mumbai) targeting the Rs 2-6 crore ticket size segment, plus ultra-luxury London developments in Mayfair (The Mansion, Mayfair Park Residences, The Residences at Mandarin Oriental, 73-77 Brook Street, 20 Carlton House Terrace) operated through Clivedale London. The financial services vertical comprises four wholly-owned subsidiaries: Indiabulls Securities (stock broking), Indiabulls NBFC (digital lending, payments, and wallet infrastructure), Indiabulls Asset Reconstruction (ARC for distressed assets), and Indiabulls Construction Equipment, all operating within RBI and SEBI regulated frameworks.

The company's go-to-market is sales-led, with direct sales offices at project sites (Indiabulls Estate & Club on Dwarka Expressway, Indiabulls Heights, Indiabulls Green Avenue) and corporate offices in Mumbai and Gurugram handling enterprise transactions. London properties are marketed through the Mayfair office and dedicated portals. Revenue is generated through one-time unit sales in real estate, recurring subscription and transaction-based fees in stock broking, lending yield in NBFC, and asset reconstruction management fees, supplemented by construction equipment sales. FY26 sales bookings reached Rs 2,752 crore from 909 units sold against a Rs 21,000 crore gross development value pipeline.

In 2025, the company underwent a major corporate restructuring consolidating 17 group entities into a single listed entity (NCLT approved August 2025), with founder Sameer Gehlaut returning as promoter and the Indiabulls Housing Finance business rebranded as Sammaan Capital. FY26 results showed revenue of Rs 880.78 crore (up 63% YoY) and a net profit of Rs 346.13 crore (turnaround from a Rs 272.73 crore prior-year loss). The board approved a Rs 1,000.07 crore preferential warrant issue in 2026 to fund subsidiary growth, working capital, and general corporate purposes. Ongoing regulatory scrutiny includes an Enforcement Directorate investigation into a Rs 10,000 crore loan fraud matter tied to the legacy IHFL/Sammaan Capital business, which is a material governance consideration.

Name

Indiabulls

Legal name

Indiabulls Limited

Website

https://indiabulls.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Indiabulls Limited is a Mumbai-headquartered, publicly listed Indian conglomerate developing residential and commercial real estate across India and London, alongside regulated financial services subsidiaries spanning stock broking, NBFC, asset reconstruction, and construction equipment financing.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Real Estate Credit (522292), Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (52394)

SIC

Mortgage Bankers & Loan Correspondents (6162), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Debt & Mortgage Strategies (FSAAAKAC)

akta.pro secondary industries

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Real Assets — Real Estate Debt (Whole Loans, Mezzanine, CMBS/CLO) (FSAHAIAB)

Keywords

• Residential real estate development
• Commercial real estate development
• Stock broking services
• Non-banking financial services
• Asset reconstruction services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Real Estate Development: Residential and commercial real estate development with focus on luxury and mid-income categories. FY26 sales bookings of Rs 2,752 crore from 909 units sold. Gross development value pipeline exceeding Rs 21,000 crore.
2. Financial Services: Stock broking business, NBFC operations, digital lending, payments and wallet infrastructure, and Asset Reconstruction Company (ARC) business operating within regulated frameworks.
3. Construction Equipment: Construction equipment business as part of diversified financial services offerings.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Indiabulls Limited is a diversified Indian conglomerate that develops residential and commercial real estate projects across India (Gurugram, Mumbai, Ludhiana, Kharkhoda) and London (Mayfair) through branded developments such as Indiabulls Estate & Club, Indiabulls Heights, Indiabulls Green Avenue, The Mansion, and Mayfair Park Residences. It also operates a portfolio of financial services businesses including stock broking (Indiabulls Securities), non-banking financial company (NBFC) operations covering digital lending, payments and wallet infrastructure, asset reconstruction services, and construction equipment financing.

Product overview

Indiabulls Limited is a diversified Indian conglomerate operating across Real Estate and Financial Services through a platform-plus-segments architecture. In Real Estate, the company develops residential, commercial, and mixed-use projects across India (Gurugram, Kharkhoda, Ludhiana, Mumbai) and London (Mayfair properties via Clivedale London), including sub-brands such as Indiabulls Estate & Club, Indiabulls Heights, Indiabulls Green Avenue, and The Mansion. In Financial Services, Indiabulls operates through four distinct business segments: Capital Market (stock broking via indiabullssecurities.com), NBFC (digital lending, payments, wallet infrastructure), Asset Reconstruction (ARC business), and Construction Equipment financing. The company completed corporate restructuring consolidating 17 group entities into a single listed entity, with founder Sameer Gehlaut returning as promoter.

Differentiator

Problem solved

Functional benefit

Products and services

• Indiabulls Estate & Club Branded residential development located in Sector-104, Dwarka Expressway, Gurugram, Haryana, targeting mid-market and luxury buyers in the Rs 2-6 crore ticket size segment.
• Indiabulls Heights Branded residential development project located in Gurugram, Haryana, targeting homebuyers in the Rs 2-6 crore ticket size segment.
• Indiabulls Green Avenue Branded residential development project located at Kharkhoda, Haryana, marketed to homebuyers through the Signature Towers-B sales office in Gurgaon.
• Indiabulls Tower (Mumbai) Commercial development project in Mumbai operated by Indiabulls Limited.
• Indiabulls Capital Market (Indiabulls Securities) Stock broking and capital markets services offered through Indiabulls Securities within SEBI-regulated frameworks.
• Indiabulls NBFC NBFC operations providing digital lending, payments, and wallet infrastructure services to customers within regulated frameworks.
• Indiabulls Asset Reconstruction Asset Reconstruction Company (ARC) services for distressed asset management, operating within RBI-regulated frameworks.
• Indiabulls Construction Equipment Construction equipment financing and related services offered as part of Indiabulls' diversified financial services portfolio.
• The Mansion (London) Luxury residential development in Mayfair, London, marketed to high-net-worth buyers through Clivedale London.
• Mayfair Park Residences Luxury residential development in Mayfair, London, sold to international buyers through Clivedale London.
• The Residences at Mandarin Oriental Mayfair, London Luxury residential development in Mayfair, London, offered in partnership with Mandarin Oriental and managed by Clivedale London.
• 73-77 Brook Street Luxury residential development at 73-77 Brook Street, Mayfair, London, managed by Clivedale London.
• 20 Carlton House Terrace Luxury residential development at 20 Carlton House Terrace in London, managed by Clivedale London.

Quantifiable outcome

• 909 units sold with sales bookings of Rs 2,752 crore in FY26
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Commercial Project Joint Venture PartnermajorStrategic or Co-development Partner · 20 March 2026Joint venture for development of Rs 600 crore commercial project in Sector 103, Gurgaon along Dwarka Expressway, including office spaces, retail outlets, and service apartments.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Sobha Limited: Listed Indian real estate developer focused on residential and contractual projects with backward integration into construction. Comparable for residential development focus, listed-entity transparency, and similar premium positioning.
• Macrotech Developers (Lodha): One of India's largest luxury residential real estate developers with major Mumbai and Pune projects. Comparable in luxury/mid-income residential focus, geographic concentration in India's prime metros, and listed-entity scale.
• DLF Limited: India's largest real estate developer with residential, commercial, and retail projects across major metros including Delhi NCR and Mumbai. Directly comparable as a publicly listed Indian real estate conglomerate with similar project scale and target segments.
• Mahindra Lifespace Developers: Listed Indian residential real estate developer and part of the Mahindra Group. Comparable for listed residential developer structure, Indian metro market focus, and similar mid-income to premium product positioning.
• Brigade Enterprises: Listed South India-focused real estate developer with residential, commercial, and hospitality projects. Comparable for residential and commercial development mix, listed-entity structure, and similar ticket-size positioning.
• Oberoi Realty: Premium Mumbai-based listed real estate developer focused on luxury residential and commercial projects. Directly comparable for high-end residential positioning, Mumbai market focus, and premium pricing strategy.
• Godrej Properties: Listed Indian residential and commercial real estate developer with strong presence in Delhi NCR, Mumbai, and other metros. Highly comparable in product mix (mid-income to luxury residential), geographic focus, and listed-entity structure.
• Prestige Estates Projects: Diversified listed Indian real estate developer with residential, commercial, retail, and hospitality projects across major cities. Comparable for diversified real estate portfolio, geographic spread in Indian metros, and listed-entity governance.
• Phoenix Mills: Listed Indian real estate company operating retail-led mixed-use destinations and commercial offices. Comparable for commercial real estate development focus, listed-entity structure, and similar prime-metro geographic strategy.

Broad incumbents

• Tata Housing Development Company: Real estate arm of the Tata Group developing residential and commercial projects across India. Comparable as a broad incumbent Indian conglomerate-backed developer with national footprint, though not separately listed at the same scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/ibullsecurities
• Facebookfacebook.com/indiabullssecurities
• LinkedInlinkedin.com/company/indiabullsgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indiabulls