Indiabulls Real Estate stock rallies 5% on selection of Atul Chandra as COO

Presently, Atul Chandra is the senior vice president of the company.

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Shares of Indiabulls Real Estate gained 5 percent intraday on August 29 after the company appointed Atul Chandra as the chief operating officer (COO) with effect from August 28.

Chandra is the senior vice-president of the company. He joined Indiabulls Real Estate Limited as a senior vice-president in April 2021 and holds a bachelor’s degree in commerce from Jiwaji University, Gwalior. He is a qualified chartered accountant and is an associate member of the Institute of Chartered Accountants of India, the company said in a regulatory filing on the Bombay Stock Exchange (BSE).

According to the company, Chandra has over 24 years of experience in various domains of real estate development and asset management, audit, accounting, investment advisory, banking and the financial services industry.

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Earlier in this month, the company told that its sale bookings fell 75 percent to Rs 74 crore in the first quarter of this fiscal. In terms of volumes, the company’s sale bookings fell to 82,000 square feet during April-June period of this fiscal.

The company had reported a consolidated net loss of Rs 679.34 crore for the first quarter ended June 2023.