Indiabulls Real Estate has registered a phenomenal increase in the consolidated net profit for the three months period ended March 31, 2008.

During the quarter, the company’s consolidated profit zoomed 3.6 times to Rs 447 million from Rs 124 million during the same quarter of the previous year.

The company’s consolidated total income for the quarter jumped 5.32 times to Rs 1,527.50 million, as compared with the prior year period.

While on standalone basis, the company’s profit surged 4.63 times to Rs 278.20 million from Rs 60.10 million in the same quarter previous year.

The company reported earnings per share of Rs 1.02 (basic EPS after Extraordinary items) during the quarter, registering 10.20 times growth over previous year period.

Net sales for the same period surged 8.65 times to Rs 288.10 million, whereas total income for the period jumped 3.83 times to Rs 551.30 million, when compared with the prior year period.

For the full year 2008, the company registered a 28.6 times growth in consolidated net profit over fiscal 2007 to Rs 4002.40 million. Consolidated total income in the year surged 16.8 times to Rs 7,646.50 million compared with prior year period.

The company’s board has recommended a dividend of 675% or Rs 13.50 a share of face value of Rs 2.00 a share for the financial year ended March 2008, subject to approval of shareholders at the ensuing Annual General Meeting of the company.

At 2:38 pm, the shares of company gained 5.0% at Rs 543.70 on the Bombay Stock Exchange (BSE).