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| Exchange Received Time 11/01/2018 19:17:33 Exchange Disseminated Time 11/01/2018 19:17:42 Time Taken 00:00:09 | Sub: Acquisition of Commercial Building at Gurugram
We wish to inform you that Indiabulls Real Estate Limited ('the Company'), through its wholly-owned subsidiary Yashita Buildcon Limited, has, today i.e. 11th January 2018, entered into a binding and definitive agreement to acquire a prime and newly constructed commercial building, having leasable area of approx 2.5 lac sq ft in Gurugram. The deal is expected to get completed in 3 to 4 months when the Occupation Certificate of the building is expected to be received. The said building is situated at a developed prime commercial location, where many leading multi-nationals are operating in nearby vicinity. With this additional leasable area, the Company expects to enhance its annuity revenue to Rs. 1,450 crores in FY 20-21 from the rental properties portfolio of Indiabulls Real Estate Ltd.
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