Ansal Properties posts Rs 22 cr loss in Jan-Mar qtr
The company's revenue stood at Rs 325 cr as against Rs 334 cr in the year-ago period
Real estate developer Ansal Properties and Infrastructure today reported a consolidated loss of Rs 22.36 crore in the three months ended March, 2012.
The entity reported a profit after tax (PAT)of Rs 12.35 crore in January-March quarter of 2011, Ansal said in a statement.
The company's revenue stood at Rs 325.25 crore in the fourth quarter of FY12 as against Rs 334.79 crore in the year-ago period.
"Continuing on the consolidation and development focus, the company has taken certain bold steps in the past to consolidate its existing position across various states and free up stuck capital in certain projects.
"The fact that in the past 6-8 quarter the company made all efforts to make sure that projects get developed on ground and resulted in the company to increase its collections from milestone based collection of sales booked in the past," the company's Vice Chairman and MD Pranav Ansal said.
The realty firm recorded a revenue of Rs 1,160.07 crore in the FY12 as against Rs 1,268.21 crore in previous fiscal.