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Home / India News / 2007 / January / January 30, 2007
Ansal API - Leading The Realty Pack. Q3 Revenues Grows by 194%, Net Profit up by 256%

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Ansal API - Leading The Realty Pack. Q3 Revenues Grows by 194%, Net Profit up by 256%

New Delhi, Delhi, India

Financial Highlights

-- Net Income for Q3 FY07 at Rs 197.28 Crore, surged by 194%
-- Net Profit for Q3 FY07 at Rs 40.19 Crore, rose by 256%

Ansal Properties & Infrastructure Limited, a leading real estate developer in India and flagship Company of the Ansal API Group, today announced its financial results for the quarter ended December 31st, 2006 for the financial year 2006-07.

Highlights of the Quarter:

-- Ansal API signed a MoU with the Government of Uttar Pradesh for developing a Hi-tech city on 2504 acres of Land adjoining Noida.

-- Completed the largest QIP issuance in India till date raising Rs.681.75 crs.

-- Signed a Memorandum of Collaboration with the Indian Oil Corporation for setting up IOC petrol stations at select residential and commercial complexes developed/being developed by Ansal API.

-- Alloted shares pursuant to merger of Ansal Township & Projects Ltd. with Ansal Properties & Infrastructure Ltd,

-- Alloted zero coupon secured redeemable optionally convertible debentures to HDFC Venture Trustees Company Ltd.

Net Income for the quarter ended December 31st, 2006 stood at Rs 197.28 Crore, a growth of 194% as compared to Rs 67.1 Crore posted in the same period of last fiscal. Net Profit for the quarter grew by 256% to Rs 40.19 Crore as compared to Rs 11.30 Crore posted in Q3FY06.

For the nine months ended December 31st,2006, Ansal Properties & Infrastructure Ltd's Net Income was at Rs. 508.06 Crore, up 127% from Rs 223.97 Crore during the corresponding period last year, while the company reported a Net Profit of Rs 90.42 Crore as against Rs 28.84 Crore in the same period of last year, registering a growth of 214%.

Announcing the results, Mr. Sushil Ansal, Chairman, Ansal API said: "I am extremely happy announcing these results. This is simply in line with our expectations. We are growing steadily and I envisage this growth to further speed up considering the rapidly growing real estate sector and mega projects we have bagged recently. We will continue to invest in strategic locations especially smaller towns where Ansal API was not present earlier. We are looking at a consistent, healthy growth throughout this financial year.''

About APIL (Ansal Properties & Infrastructure Ltd.):

BSE stock code- 500013

APIL is the flagship Company of the Ansal API Group, which is driven by the pioneering vision of Mr. Sushil Ansal as its Chairman. With almost four decades of pioneering and successful track record of real estate promotion and development, both in residential and commercial segments, its greatest strength lies in its inherent ability to identify new growth opportunities. Starting with Ansal Plaza, which has ushered in the shopping mall revolution in the country, development of well known Satellite Townships under the banner of "Sushant City" and land mark high rise commercial properties, the Company has now taken on the baton of pioneering development in many spheres like foray in SEZ's apart from tier II cities. The company was recently got the Certification of Environmental management System - ISO 14001:2004. Ansal API is also awarded as the "Most Trusted Real Estate Brand by Reader's Digest in 2006". An ISO 9001:2000 company, it has gained recognition as a premier organization in the field of housing, institutional, commercial and industrial development.

To view the financial results tables please click on the link below:

Accounts Statement

Notes to The Accounts

Kunal Banerji, Vice President (Marketing & Corporate Communication), Ansal Properties and Infrastructure Limited, +91 9810847720

Anil Sharma, AdfactorsPR, +91 (011) 41345155-9/ +919811499946

Source: Ansal Properties and Infrastructure Limited (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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