Ansal Housing & Construction Ltd., one of the leading real estate providers in India announced a significant improvement in its profits for the first quarter ending June 30, 2007. The company has reported a whopping 79% jump in the Net Profit to Rs.12.63 crores as compared to the corresponding period of last financial year from Rs. 7.05 crores.

Financial Performance

Highlights of Q1, FY  2007 -2008 v/s FY 2006 - 2007

·         Turnover up by 25% to Rs. 51.71 crores

·          Net Profit increased by 79% to Rs. 12.63 crores from Rs 7.05 crores

·         Earnings Per Share to Rs. 7.56 for the quarter as compared to Rs. 4.89 for the same period last year.

Commenting on the results Mr. Kushagr Ansal, Wholetime Director of the Company said; The first quarter result is in line with our expectations and reflects the healthy growth of the company. We are extremely bullish on the growth prospects for the rest of the year. The company has attained an all round growth, with higher production and sales volumes. The Company has attained licenses for its projects in Karnal. Rewari, Meerut and Jammu. These projects are expected to further increase the sales volume and scale of work undertaken by the company.  With the economy expected to do well, the company is optimistic about its future prospects and confident of achieving the planned performance, which will be significant quantum jump for the year 2007-2008 over the year 2006-2007. 

Sourced From: LINOpinion - The Lintas Public Relations Division