Indiabulls Real Estate To Be Renamed As Equinox India Developments

Indiabulls Real Estate Ltd. officially changed its name to Equinox India Developments Ltd. The change will be effective from July 8, according to an exchange filing on the BSE.

"In furtherance to the intimation dated June 20, 2024, intimating change in name of the Company from Indiabulls Real Estate Ltd. to ‘Equinox India Developments Ltd. (“the Company”), please be informed that pursuant to the approvals of the National Stock Exchange of India Ltd. (NSE) and BSE Ltd. (BSE), vide their letters dated July 2, 2024, effective from July 8, 2024," the filing said.

Indiabulls Housing Finance, the mortgaging arm of Indiabulls Group, also officially changed its name on Wednesday to Sammaan Capital Ltd., according to another BSE exchange filing.

The company had already filed intimations on the impending name change on May 22, 2023, and about the company's rebranding on Jan. 25, 2024.

"Over the course of this month, the Company will operationalise the change in name across branches, its website, stationery, etc. Customer outreach through appropriate campaigns across various media channels would also be undertaken through the course of this fiscal quarter," the filing said.

The company said it will prioritise return-on-equity growth in the near-term, which will be driven by the nature of their asset-light retail business model to earn profit gradually.

Indiabulls Housing Finance had posted a 21% rise in consolidated net profit to Rs 319 crore for the March quarter.