Lower revenues and higher net profit posted by DB Realty
The Mumbai-based real estate developer DB Realty Ltd has posted lower revenues in the quarter ended 31 March. It is found that the total revenue earned by the builder is reduced to Rs. 97.71 crore from Rs 391.8 crore, while the net profit has increased by 152 percent to Rs 20.26crore.
The company has also reduced its debt equity ratio to 0.06 and its debt stands at Rs 213.6 crore.
DB Realty was one of the fastest growing real estate firms in recent years.
According to a higher official of DB realty, though all its projects had slowed down for a while because of cash crunch, they are back on track now and execution is on and the aim is to finish and deliver ongoing projects on schedule.
The builder is expecting to deliver at least two projects in Mumbai this year. However, most of the projects in both upscale Mumbai areas such as Prabhadevi and Jacob’s Circle and in suburban areas are in construction mode.
The company plans to continue consolidation and focus on development in coming quarters.
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Source: Livemint
DB Realty Ltd, Ongoing Projects, ongoing projects in India, Projects in Mumbai, Real estate firms
