Ackruti City has declared its third quarter results of FY10. Its consolidated net profit jumped fourfold from 241.79% to Rs 734.5mn from Rs 214.9mn, on quarter-on-quarter basis (QoQ) and up 1147% from Rs 58.9mn, Year on Year (YoY).
Consolidated net sales rose to Rs 2.19bn from Rs 792mn (QoQ) and Rs 485.9mn, YoY. Total income rose to Rs 2.22bn for the quarter from Rs 490mn in the same period last fiscal. On standalone basis, the company has posted a net profit of Rs 78 crore for the October-December quarter, a jump of four fold over the year-ago period.
EBIDTA (earning before interest, depreciation, tax and amortisation) increased to Rs 1.26bn from Rs 624mn, QoQ and Rs 74.89 crore, YoY. The dividend yield of the company was at 0.2%.
“Akruti City continues to register solid growth in all the verticals that we are participating in. Our expansion outside of Mumbai is continuing at a good pace and we have launched several new projects in Maharashtra and Gujarat. The company is well on its way to continue to grow and deliver value to our stakeholders,” said Vyomesh. M. Shah, managing director Ackruti City Ltd.
Akruti has a presence across the full spectrum of real estate from high-end super luxury complexes, mid-end mega residential complexes, commercial complexes, IT parks and SEZ’s spread over hundreds of acres of land, Biotech parks, robotic car parking towers, and townships. Over the past decade, Akruti has rehoused and rejuvenated a significant number of slum families and repurposed the lands thus released towards developing better, greener, and cleaner cities.