has signed an agreement with a private owner under which it will be developing a residential project in Gurugram which is spread across 10.84 acres and is located on the Dwarka Expressway, CNBCTV18 reported on Wednesday.
The project has saleable area of around 21 lakh square feet while the Gross Development Value (GDV) stands at around ₹3,700 crore. Phase 1 as well as Phase 3 of the project have been registered under , while the expected launch date is in the middle of October this year.
The project’s start date comes ahead of the festive season, a time when residential demand increases, a factor the company expects to tap into once registrations for sale open.
Its location along the Dwarka Expressway is an added point of attraction for potential buyers.
This new project will take the total GDV of all projects the company is involved in to ₹27,308 crore, as per its exchange filing on 25 August.
Indiabulls expects the project to show revenue visibility as well as realisation of potential price in the Dwarka Expressway market, the publication reported.
A Development Management has been constituted to develop the project along with the private landlord. This arrangement will help the company to use its branding, execution, development as well as sales capabilities without buying the land.
The company told the publication that this model will help it to expand its pipeline of real estate projects while helping it maintain financial flexibility and generate development fee income.
The company believes this project can be a template for its similar projects in partnerships with landlords in places like the National Capital Region (NCR), (MMR), as well as other Tier-1 cities across the country.
This new project adds 21 lakh square feet of saleable area to Indiabulls’ portfolio and about ₹3,700 crore in GDV in its pipeline of projects under development.
Share price movement
Shares of the company touched a day’s high of ₹27.36 on Wednesday in the wake of this new project on the Dwarka Expressway. However, by 1:22 pm Indiabulls shares went down a bit and were trading at ₹26.97.
As per shareholder patterns provided by the company, Foreign Institutional Investors (FIIs) raised their stakes in Indiabulls from 17% in March 2026 to 17.08% in June 2026.