Net debt of Ansal Properties is reduced
Realty firm Ansal Properties and Infrastructure (Ansal API) has reduced its net debt by nearly Rs 252 crore during the last fiscal on improved cash flow.
At the end of the financial year 2012, the company’s net debt stood at Rs 1,209.6 crore.
In the year 2011-12, Ansal achieved a sales booking of 22.70 million sq ft of area worth Rs 2,703.7 crore. 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.
According to a company spokesperson, the realizations started improving as the new sales are being booked mostly in the extended phases of the existing integrated townships projects in India.
In financial year 2011-12, Ansal posted a net profit of Rs 4.93 crore as compared to Rs 101.48 in Financial Year 2011.
The revenue also fell to Rs 325.25 crore in the fourth quarter of Financial Year 2012 against Rs 334.79 crore in the year 2011.
To read more real estate news:
DLF, planning to sale its land for Rs 2900 crore
HDIL’s land in Bangalore will be sold to Godrej Properties
Source: The Hindu Businessline
Ansal Properties and Infrastructure, Debt, profit margin in real estate, projects in India, townships projects in India
[...] Delhi: Developers like Supertech and Ansal API announce an investment of Rs 8,000 crore on projects in next four [...]