Loss making spree by Realty Companies on Browser

Accommodation Times Bureau
By Dr Sanjay Chaturvedi

Realty firm Ansal Properties and Infrastructure (Ansal API) has reduced its net debt by nearly Rs 2.52 billion during the last fiscal on improved cash flow.

The company’s net debt stood at Rs 12.09 billion as on Mar 31, 2012, against Rs 14.61 billion at the end previous fiscal, Ansal API said in an investors` presentation.

Ansal achieved a sales booking of 22.70 million sq ft of area worth Rs 27.03 billion in 2011-12. In the previous year, it had sold 22.43 million sq ft for Rs 23.92 billion.

The sales realization improved to Rs 1,191 per sq ft in 2011-12 from Rs 1,067 a sq ft in the previous fiscal.

“Realizations started improving as the new sales are being booked mostly in the extended phases of the existing integrated townships wherein the company is witnessing better realizations on account of its potential being witnessed in the development of the initial phases of the existing townships,“ the presentation said.

Ansal API said it has completed the financial closures of committed capital from Redfort and ICICI Pru AMC with the inflow of Rs 1.45 billion and Rs 470 million, respectively, during the last fiscal.

The company reported a consolidated loss of Rs 223.6 million for the quarter ended March as against a net profit of Rs 123.5 million in the year-ago period.

The revenue fell to Rs 3.25 billion in the fourth quarter of FY’12 against Rs 3.34 billion in the year ago period. In fiscal 2011-12, Ansal posted a net profit of Rs 49.3 million as compared to Rs 101.48 in FY`11.

Unitech fell after company announced poor Q4 earnings. Shares of the company are trading at Rs 19.60, down Rs 0.35, or 1.75% at the Bombay Stock Exchange (BSE) on Wednesday 30th May 2012 at 9:59 a.m.

The company reported a 97.80% fall in consolidated net profit of Rs 22.6 million for the quarter ended Mar. 31, 2012 as compared to Rs 1,025 million for the quarter ended Mar. 31, 2011.

Total consolidated income has decreased 29.69% from Rs 10.95 billion for the quarter ended Mar. 31, 2011 to Rs 7.70 billion for the Quarter ended Mar. 31, 2012.

Oberoi Realty has posted consolidated net profit of Rs 1.43 billion for the quarter ended March 31, 2012 as compared to Rs 1.36 billion for the quarter ended March 31, 2011, representing an increase of 5.15%.

Total consolidated income has decreased 3.39% from Rs 2.95 billion for the quarter ended March 31, 2011 to Rs 2.85 billion for the year ended March 31, 2012.

It has posted on the FY12 net profit of Rs 4.62 billion for the year ended March 31, 2012 as compared to Rs 5.17 billion for the year ended March 31, 2011, representing decrease of 10.64%.

FY12 total income has decreased from Rs 10.58 billion for the year ended March 31, 2011 to Rs 9.74 billion for the year ended March 31, 2012, representing decrease of 7.94%

Orbit reported a loss in Q4FY12 on account of lower margins (booked impairment of Rs 131 million for Orbit WTC), higher interest cost and higher taxes ((Rs 97 million out of Rs 119 million of tax provision for previous years). Sales volumes and debtor collection continued to remain sluggish. ICICIdirect believes these should hold the key for topline growth and cash flows, respectively. Though ORL is currently trading at attractive valuations (0.4x FY13 P/BV).

Housing Development and Infrastructure (HDIL) announced on 30th May a growth of 70.35% consolidated net profit to Rs 3.15 billion for the quarter ended March 31, 2012 as compared to Rs 1.85 billion in the same period last year.

During the quarter, the company saw a rise of 16.31% in consolidated total income to Rs 6.49 billion from Rs 5.58 billion in the same quarter last year

For the year ended Mar. 31, 2012, HDIL reported a marginall decrease of 1.45% in consolidated net profit to Rs 8.09 billion as compared to Rs 8.21 billion for the year ended March 31, 2011.

Total consolidated income has increased from 8.49% Rs 18.96 billion for the year ended March 31, 2011 to Rs 20.57 billion for the year ended March 31, 2012.

DLF fell on 31st May 2012 after company announced weak Q4 earnings. Shares of the company are trading at Rs 180.80, down Rs 2.55, or 1.39% at the Bombay Stock Exchange (BSE) on Thursday at 9:21 a.m.

The company reported a fall of 38.56% in consolidated net profit to Rs 2.11 billion for the quarter ended Mar. 31, 2012 as compared to Rs 3.44 billion in the same period last year.

During the quarter, the company saw a decrease of 4.26% in consolidated total income to Rs 27.47 billion from Rs 28.69 billion in the same quarter last year.

Vascon Engineers reported 80.33% fall in consolidated net profit of Rs 56.4 million for the quarter ended Mar. 31, 2012 as compared to Rs 286.7 million in the same period last year.

Total consolidated income has decreased by 54.23% to Rs 1.81 billion for the quarter ended Mar. 31, 2012 from Rs 3.95 billion in the year ago period.
Indiabulls Real Estate (IBREL) has reported in-line results for 4QFY12. Growth in revenue booking was healthy at 22% QoQ, largely backed by stronger execution progress, as incremental sales during the quarter were muted. EBITDA declined 6% YoY to Rs 1.1 billion, while EBITDA margin declined to 24% from 29% in 3QFY12.





Similar Articles

Leave a Reply

Top