According to an official release issued by the company to the BSE on Thursday, pursuant to the demerger of its real estate business to Indiabulls Real Estate [Get Quote] (IBREL), Indiabulls had signed up Knight Frank to do the valuation.

Knight Frank has estimated the present value of 100 per cent of the six development projects, in which IBREL is involved, at Rs 21,569 crore (Rs 215.69 billion).

The total present value of IBREL's effective ownership in project companies undertaking the proposed development is Rs 15,125 crore.