Indian Real Estate Companies - Financial Round Up, June quarter 2011-12
Unitech down 45%
India's second-largest realty firm, Unitech has reported a 45% decline in consolidated net profit at Rs 98.36 crore for the quarter ended June on lower sales. The company had posted a net profit of Rs 180.04 crore in the year-ago period.
The net sales also declined by 28 per cent to Rs 595.85 crore in the first quarter of this fiscal at Rs 828.57 crore in the corresponding period of last fiscal.
Unitech said that the company's debt reduced by Rs 203.68 crore during the quarter.
During the quarter, the company sold 1.9 million sq ft for a value of Rs 1,020 crore. It currently has about 90 projects at various stages of construction.
HDIL net slips Rs 189 crore
Housing Development & Infrastructure Ltd (HDIL) has reported a 12 per cent decline in its consolidated net profit to Rs 189 crore for the quarter ended June 30.
The company had posted a net profit of Rs 216 crore in the corresponding period last year.
The consolidated total revenue during the first quarter, however, increased by 12 per cent to Rs 512 crore from Rs 455 crore in the year-ago period, it added.
Simplex Infra net falls 33%
Simplex Infrastructures has reported a 33% fall in its net profit to Rs 24 crore for first quarter ended June 30, compared to Rs 36 crore in the same period last fiscal, due to higher interest costs.
Total sales for the period grew by 7.32 per cent to Rs 1,260 crore as against Rs 1,174 crore in the year-ago period, the company said in a statement.
The company's domestic business, which accounts for 90% of sales, grew by 16% to Rs 1,138 crore from Rs 981 crore in the corresponding period previous year.
Total order book stood at Rs 14,348 crore.
During the quarter, Simplex bagged orders worth Rs 873 crore. In addition, it achieved L1 (lowest bidder) position worth Rs 1,898 crore as of June, out of which Rs 936 crore were converted into orders in July.
DB Realty net down at Rs 41 crore
Mumbai-based developer, DB Realty has reported a 33% decline in its consolidated net profit at Rs 41.14 crore for the quarter ended June as against Rs 62 crore in the year-ago period due to slowdown in property demand.
Net sales declined by 16%t at Rs 221.5 crore in the first quarter of this fiscal against Rs 265 crore in the corresponding quarter of last fiscal..
Mr, N Shridhar, company's group director (business & strategy) said. "Rising interest rates and input costs coupled with delayed approvals have resulted in a slowdown in the sector. At DB Realty we see a slowdown in sales coupled with an increase in input costs in the last 6 months.
Our company managed to reduce debt burden in this quarter to Rs 242.5 crore as on June 30, 2011".
Nitesh Estates posts Rs 4.75 crore loss
Bangalore-based real estate developer, Nitesh Estates posted a loss of Rs 4.75 crore during the first quarter of this fiscal, compared with net profit of Rs 4.76 crore recorded during the corresponding quarter of last year. The company's net sales stood at Rs 14.21 crore (Rs 37.39 crore). This is 62 % dip.
The company also incurred a much higher advertisement and sales promotion expenses in the said quarter at Rs 3.25 crore (Rs 56 lakh).
Brigade Group Rs 26.54 crore
Bangalore-based real estate developer Brigade Group's net profits for the first quarter of this fiscal went up 91% to Rs 26.54 crore. Last year, the company's net profits stood at Rs 13.92 crore.
Revenues for the quarter were Rs 167.83 crore (Rs 92.48 crore). This is 81% growth.
MARG net rises to Rs 12 crore
Total income for MARG, three months ended June 30, 2011, grew by 76 per cent to Rs 308 crore from Rs 175 crore registered in the year-ago period. For the year ending March 31, 2011, total income stood at Rs 1,084 crore.
On setting up of its first mall, MARG Junction on Old Mahabalipuram Road in Chennai, the company said development of the project is on schedule and is expected to commence operations in the first quarter of 2012.
Tata Steel net increase three fold
Tata Steel has reported nearly 3 fold jump in consolidated net profit at Rs 5,347 crore for the quarter ended June 30, buoyed by mainly one-time gain after sale of stakes in Australian mining firm Riversdale and Tata Refractories.
The company had reported a net profit of Rs 1,825 crore during the corresponding quarter of last fiscal.
Net sales of the company also rose by 22 per cent to Rs 32,840 crore during the quarter under review, compared to Rs 27,010.06 crore.
India Cements net rises four fold
India Cements, a dominant southern cement player, has posted a fourfold increase in its net profit for the quarter ended June 2011.
Amongst all cement majors, India Cements has posted the best quarterly profits. The company's net profit stood at Rs 102 crore in April-June period compared with Rs 25 crore in the corresponding period last year. The company's net sales rose 20 per cent to Rs 1,056.8 crore from Rs 880.6 crore.
Jaypee Infra net down 40%
Jaypee Infratech has posted a 40% decline in its net profit at Rs 237.78 crore for the quarter ended June 30. The company had reported a net profit of Rs 394.83 crore during the corresponding period last fiscal.
Net sales of the company rose 3.35 per cent at Rs 616.97 crore as against Rs 596.95 crore during the same period last fiscal.
Jaypee Group has interests in areas like engineering and construction, power, cement, expressways, real estate and hospitality among others.
Unitech down 45%
India's second-largest realty firm, Unitech has reported a 45% decline in consolidated net profit at Rs 98.36 crore for the quarter ended June on lower sales. The company had posted a net profit of Rs 180.04 crore in the year-ago period.
The net sales also declined by 28 per cent to Rs 595.85 crore in the first quarter of this fiscal at Rs 828.57 crore in the corresponding period of last fiscal.
Unitech said that the company's debt reduced by Rs 203.68 crore during the quarter.
During the quarter, the company sold 1.9 million sq ft for a value of Rs 1,020 crore. It currently has about 90 projects at various stages of construction.
HDIL net slips Rs 189 crore
Housing Development & Infrastructure Ltd (HDIL) has reported a 12 per cent decline in its consolidated net profit to Rs 189 crore for the quarter ended June 30.
The company had posted a net profit of Rs 216 crore in the corresponding period last year.
The consolidated total revenue during the first quarter, however, increased by 12 per cent to Rs 512 crore from Rs 455 crore in the year-ago period, it added.
Simplex Infra net falls 33%
Simplex Infrastructures has reported a 33% fall in its net profit to Rs 24 crore for first quarter ended June 30, compared to Rs 36 crore in the same period last fiscal, due to higher interest costs.
Total sales for the period grew by 7.32 per cent to Rs 1,260 crore as against Rs 1,174 crore in the year-ago period, the company said in a statement.
The company's domestic business, which accounts for 90% of sales, grew by 16% to Rs 1,138 crore from Rs 981 crore in the corresponding period previous year.
Total order book stood at Rs 14,348 crore.
During the quarter, Simplex bagged orders worth Rs 873 crore. In addition, it achieved L1 (lowest bidder) position worth Rs 1,898 crore as of June, out of which Rs 936 crore were converted into orders in July.
DB Realty net down at Rs 41 crore
Mumbai-based developer, DB Realty has reported a 33% decline in its consolidated net profit at Rs 41.14 crore for the quarter ended June as against Rs 62 crore in the year-ago period due to slowdown in property demand.
Net sales declined by 16%t at Rs 221.5 crore in the first quarter of this fiscal against Rs 265 crore in the corresponding quarter of last fiscal..
Mr, N Shridhar, company's group director (business & strategy) said. "Rising interest rates and input costs coupled with delayed approvals have resulted in a slowdown in the sector. At DB Realty we see a slowdown in sales coupled with an increase in input costs in the last 6 months.
Our company managed to reduce debt burden in this quarter to Rs 242.5 crore as on June 30, 2011".
Nitesh Estates posts Rs 4.75 crore loss
Bangalore-based real estate developer, Nitesh Estates posted a loss of Rs 4.75 crore during the first quarter of this fiscal, compared with net profit of Rs 4.76 crore recorded during the corresponding quarter of last year. The company's net sales stood at Rs 14.21 crore (Rs 37.39 crore). This is 62 % dip.
The company also incurred a much higher advertisement and sales promotion expenses in the said quarter at Rs 3.25 crore (Rs 56 lakh).
Brigade Group Rs 26.54 crore
Bangalore-based real estate developer Brigade Group's net profits for the first quarter of this fiscal went up 91% to Rs 26.54 crore. Last year, the company's net profits stood at Rs 13.92 crore.
Revenues for the quarter were Rs 167.83 crore (Rs 92.48 crore). This is 81% growth.
MARG net rises to Rs 12 crore
Total income for MARG, three months ended June 30, 2011, grew by 76 per cent to Rs 308 crore from Rs 175 crore registered in the year-ago period. For the year ending March 31, 2011, total income stood at Rs 1,084 crore.
On setting up of its first mall, MARG Junction on Old Mahabalipuram Road in Chennai, the company said development of the project is on schedule and is expected to commence operations in the first quarter of 2012.
Tata Steel net increase three fold
Tata Steel has reported nearly 3 fold jump in consolidated net profit at Rs 5,347 crore for the quarter ended June 30, buoyed by mainly one-time gain after sale of stakes in Australian mining firm Riversdale and Tata Refractories.
The company had reported a net profit of Rs 1,825 crore during the corresponding quarter of last fiscal.
Net sales of the company also rose by 22 per cent to Rs 32,840 crore during the quarter under review, compared to Rs 27,010.06 crore.
India Cements net rises four fold
India Cements, a dominant southern cement player, has posted a fourfold increase in its net profit for the quarter ended June 2011.
Amongst all cement majors, India Cements has posted the best quarterly profits. The company's net profit stood at Rs 102 crore in April-June period compared with Rs 25 crore in the corresponding period last year. The company's net sales rose 20 per cent to Rs 1,056.8 crore from Rs 880.6 crore.
Jaypee Infra net down 40%
Jaypee Infratech has posted a 40% decline in its net profit at Rs 237.78 crore for the quarter ended June 30. The company had reported a net profit of Rs 394.83 crore during the corresponding period last fiscal.
Net sales of the company rose 3.35 per cent at Rs 616.97 crore as against Rs 596.95 crore during the same period last fiscal.
Jaypee Group has interests in areas like engineering and construction, power, cement, expressways, real estate and hospitality among others.
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