Indiabulls (NSE:IBULLSLTD) Cyclically Adjusted PB Ratio: (As of Sep. 03, 2026)

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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

NSE:IBULLSLTD Indiabulls Ltd NSE:IBULLSLTD
44 GF Score
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What is Indiabulls Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Indiabulls  (NSE:IBULLSLTD) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Indiabulls Cyclically Adjusted PB Ratio Related Terms


Indiabulls Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Indiabulls's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Indiabulls Cyclically Adjusted PB Ratio Chart

Indiabulls Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.28 0.08 0.09 0.20 0.13

Indiabulls Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.24 0.00 0.13 0.00

Indiabulls Cyclically Adjusted PB Ratio Competitor Comparison

For the Real Estate - Development subindustry, Indiabulls's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Indiabulls Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Indiabulls's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Indiabulls's Cyclically Adjusted PB Ratio falls into.


NSE:IBULLSLTD
44GF Score
Indiabulls Ltd NSE:IBULLSLTD
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Indiabulls Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Indiabulls's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Indiabulls's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0/167.3573*167.3573
=0.000

Current CPI (Jun. 2026) = 167.3573.

Indiabulls Quarterly Data

Book Value per Share CPI Adj_Book
201609 173.040 105.961 273.303
201612 0.000 105.196 0.000
201703 63.136 105.196 100.444
201706 0.000 107.109 0.000
201709 50.583 109.021 77.649
201712 0.000 109.404 0.000
201803 88.079 109.786 134.267
201806 0.000 111.317 0.000
201809 151.850 115.142 220.712
201812 0.000 115.142 0.000
201903 160.435 118.202 227.153
201906 0.000 120.880 0.000
201909 46.776 123.175 63.554
201912 0.000 126.235 0.000
202003 34.503 124.705 46.304
202006 0.000 127.000 0.000
202009 52.420 130.118 67.422
202012 0.000 130.889 0.000
202103 46.090 131.771 58.537
202106 0.000 134.084 0.000
202109 49.494 135.847 60.974
202112 0.000 138.161 0.000
202203 -33.585 138.822 -40.489
202206 0.000 142.347 0.000
202209 -11.248 144.661 -13.013
202212 0.000 145.763 0.000
202303 -22.602 146.865 -25.756
202306 0.000 150.280 0.000
202309 -22.386 151.492 -24.730
202312 0.000 152.924 0.000
202403 -23.687 153.035 -25.904
202406 0.000 155.789 0.000
202409 -23.627 157.882 -25.045
202412 0.000 158.323 0.000
202503 -28.009 157.552 -29.752
202506 0.000 159.755 0.000
202509 283.588 162.289 292.444
202512 0.000 163.281 0.000
202603 13.806 164.272 14.065
202606 0.000 167.357 0.000

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Indiabulls Business Description

Other Exchanges 533520:India
Address Senapati Bapat Marg, Tower - 1, 4th Floor, One International Center, Elphinstone West, Mumbai, MH, IND, 400013
Indiabulls Ltd is a real estate developer delivering premium residential and commercial spaces with timely execution and exceptional quality. It combines superior design and strategic locations to create iconic urban living and working environments.
44GF Score

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