As per the company's press statement, the sale proceeds will be accretive to the regulatory net worth and the capital-to-risk weighted assets ratio (CRAR) of the company and will be added to the regulatory equity capital of the company.

Indiabulls Housing Finance's consolidated net profit rose 3.2% to Rs 281.69 crore on a 9.4% decline in net sales to Rs 2,325.75 crore in Q1 FY22 over Q1 FY21.

Shares of Indiabulls Housing Finance shed 1.76% to Rs 225.70 on Friday. Indiabulls Housing Finance provides home loans and loans to small business owners.