Indiabulls share price today

Indiabulls Limited's share price was ₹31.28 at the close on 4 November 2026. It has been rising for 25 weeks. That is 29.2% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹9 and ₹37, and at that close it sat 81% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Indiabulls Limited is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 9 weeks in a row.

Over the last 11 years the share price moved +165% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: operating margin up 28 points on a year earlier, number of shareholders up 343% in a year and profit up on a year earlier for 5 quarters in a row.

1. Operating margin up 28 points on a year earlier

   43% in the June 2026 quarter, from 15%.

2. Number of shareholders up 343% in a year

   2,51,001 shareholders in the September 2026 quarter, against 56,661 a year earlier.

3. Profit up on a year earlier for 5 quarters in a row

   In the June 2026 quarter profit was ₹141 crore, +7150% on a year earlier.

For April to June 2026 (the quarter ended 30 June 2026), Indiabulls reported revenue of ₹359 crore, up 290.2% from ₹92.0 crore a year earlier, and a profit of ₹141 crore, against a loss of ₹2.00 crore a year earlier.

Indiabulls results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 29 April 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Indiabulls closed at ₹31.28 on 4 November 2026, up 49.6% from ₹20.91 a year earlier (3 November 2025) and down 64.1% over five years. Its highest weekly close since March 2016 was ₹656.04 on 14 September 2018.

Indiabulls share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

564 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Indiabulls closed at ₹31.28, up 3.4% on the week and up 6.2% on the month. Results for April to June 2026: Revenue up 290.2% on a year earlier.

Earlier

• 29 Apr 2026: Indiabulls held its results call for January to March 2026. Management guided: Real estate profit growth 2x in FY27, 3x in FY28 relative to FY26 base; consolidated company profit ₹1,000-1,500 crore window by 5-7 year horizon (through FY32)

Indiabulls has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

Not in its latest year. Indiabulls Limited paid out 0% of its profit as dividends in FY26. It did pay a dividend in 1 of its last 13 reported years, so there is a history but no current dividend.

From the NSE corporate-actions record, read 5 November 2026.

On the call for January to March 2026, held on 29 April 2026, Indiabulls' management guided: Real estate profit growth 2x in FY27, 3x in FY28 relative to FY26 base; consolidated company profit ₹1,000-1,500 crore window by 5-7 year horizon (through FY32)

“We should be easily crossing 1,000 to 1,500 crores of PAT in the coming 5 to 7 years”Divesh Shah, CEO, on the call for January to March 2026

What management guided

• Indiabulls Tower Prabhadevi: expected annual lease rent ₹1,000 crore from year 4 onwards; capital expenditure ₹600 crore; construction timeline 3-4 years.
• Real estate launches FY27 at 40 lakh sq ft with associated GDV ₹6,000+ crore; future pipeline 42 lakh sq ft valued ₹11,900 crore; total GDV ₹21,000+ crore expected to be monetized into balance sheet by FY31-32.
• UPI and PPI digital payment licenses expected in current quarter (April to June 2026) as foundational infrastructure for ecosystem enablement and platform interconnection.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for January to March 2026, 29 April 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

What is changing at Indiabulls, from the latest results and calls: real estate project profit recognition inflection, merger completion, 17-entity clean-up and tax shield and prabhadevi tower annuity income (commercial).

• Real Estate Project Profit Recognition Inflection. ₹21,000+ Cr GDV pipeline beginning to flow into P&L on percentage-completion basis, January to March 2026 real estate segment delivered ₹143 Cr operating profit from ₹266 Cr revenue. ⚠ estimate
• Merger Completion, 17-Entity Clean-Up and Tax Shield. Composite scheme merging 17 entities complete: debt-free consolidated entity, ₹750 Cr cash, ₹3,000 Cr tax shield (profit before tax ≈ profit until depleted), balance sheet clarity for the first time. ⚠ estimate
• Financial Services Capital-Light Platform. Broking (₹28 Cr profit before tax, ₹68,000 Cr client assets), ARC (₹3,794 Cr AUM), NBFC wind-down (₹1,000 Cr, ~1% GNPA), capital-light, not transformative, but stable second vertical. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 17 May 2026.

Supreme Court PIL against Sammaan Capital (formerly Indiabulls Housing Finance) involves overlapping promoter names, management says IBULLSLTD has no litigations, but market conflates the two.

The main risks

• Governance Legacy and Brand Contamination from Sammaan Capital PIL: Supreme Court PIL against Sammaan Capital (formerly Indiabulls Housing Finance) involves overlapping promoter names, management says IBULLSLTD has no litigations, but market conflates the two. ⚠ estimate
• Revenue Recognition Lumpiness, Percentage Completion Model: Revenue flows in proportion to construction completion, not sales, quarterly P&L will be extremely lumpy; Dec 2025 quarter operating margin was -15% vs Mar 2026 at +42%. ✓ fact
• NBFC Revenue Decay as Book Winds Down: Legacy NBFC (₹1,000 Cr book, ~₹120 Cr annual revenue) is winding down with no fresh disbursements, this income stream disappears in 2-3 years. ✓ fact

Our read after the latest results, written 17 May 2026.

When Indiabulls reports July to September 2026, these are the 2 checks that show whether the story is still on course. First: Broking online platform customer acquisition and product launch execution - January to March 2026 added 28,000 customers; monitor April to June 2026 pace of online channel customer additions and delivery of 'ambitious product launches' to assess growth readiness against Zerodha/Groww competition.

Indiabulls is on one of our India lists: Penny stocks.

Indiabulls Limited earned ₹141 Cr of net profit in the Jun 2026 quarter. Full-year FY26 profit was ₹346 Cr. Over 10 years profit has grown 47.7% a year on average. That is 39.3% of the quarter's revenue. The same quarter a year earlier lost ₹2.0 Cr. 8 of the last 12 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

Indiabulls Limited reported ₹359 Cr of revenue in the Jun 2026 quarter, +290.2% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 10 years it has grown 10.4% a year on average. The last full year, FY26, came in at ₹833 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. The core thesis is simple: Indiabulls has been sitting on a large land bank and project pipeline for years with no revenue recognition. FY26 is the first year of meaningful recognition, Q4 alone delivered ₹143 Cr segment profit on ₹267 Cr revenue (53% margin). FY26 bookings: 909 units, 21.6 lakh sq ft, ₹2,752 Cr value. The pipeline, ₹6,000 Cr GDV planned for FY27 launches + ₹11,900 Cr future pipeline, underpins multi-year earnings growth if execution lasts.

The last four reported quarters add to ₹1,101 Cr.

FY26 revenue was ₹833 Cr, +87.6% on the year before.

Recent pace: the last four quarters grew +172.0% on average, against 10.4% a year over the longer run, so this year is growing faster than its own long-run rate.

Indiabulls Limited's operating margin was 43.0% in the Jun 2026 quarter, 28.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 11 years it has been between −7,349.0% and 33.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +28.1 percentage points on the year while gross margin changed −10.7 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

Over the last 3 years, 2% of Indiabulls Limited's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹194 Cr of operating cash against ₹346 Cr of profit. After −₹28.0 Cr of spending on assets, ₹222 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.

What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.

Indiabulls Limited's customer, stock and supplier day counts come out in the thousands of days on sales this small (₹833 Cr in FY26), so no cash-cycle chart is drawn and this section looks at its spending on assets instead. It spent ₹652 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Averaged over those years that is 26.1% of FY26 revenue a year.

Spending on assets: ₹652 Cr over the last 3 years, against ₹83.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹1.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Indiabulls Limited's P/E is 15.0×, in the middle of its own history: higher than 45% of past readings. Its usual P/E (the middle reading) is 15.7×, over 10 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why this happened. The financial services arm is not a growth driver but a stable platform. Broking: ₹124 Cr FY26 revenue, 26% Q4 growth, adding 28,000 customers/quarter, ₹68,000 Cr client assets. ARC: ₹622 Cr fee-paying AUM, ₹288 Cr recoveries in FY26. Legacy NBFC: ₹1,000 Cr book, no fresh disbursements, ~1% GNPA, ~₹120 Cr annual revenue. The NBFC is winding down, this revenue stream disappears in 2-3 years. SpringCash (US fintech): $30 M valuation, $100 M+ disbursals, an optionality item only.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹1.86.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.