Ansal sells properties worth Rs 1,714 cr in 2010

Realty firm Ansal Properties and Infrastructure Ltd today said it sold properties worth about Rs 1,714 crore in the first nine months of this fiscal and its sales realisations improved by 24 per cent compared to the year-ago period.

"The total sales booked in the first nine months of the 2010-11 fiscal is 15.81 million sq ft aggregating sales value of Rs 1,713.79 crore," the company said in a presentation, outlining the operational updates.

The average sales realisations have improved by 24 per cent to Rs 1,084/sq ft in the first nine months of this fiscal as against Rs 872.81/ sq ft in the year-ago period.

The company had set a target to book sales of 16 million sq ft in the current fiscal, out of which 15.81 million sq ft has already been booked, it added.

Out of the total sales booked, the hi-tech township 'Sushant Golf City' in Lucknow and 'Esencia' in Gurgaon contributed 8.63 million sq ft and 2.31 million sq ft, respectively.

In terms of location, Uttar Pradesh accounted for 60 per cent of the sales booking, followed by Haryana at 33 per cent. The sales was maximum in plots at Rs 623.54 crore, followed by villas at Rs 475.4 crore.

Ansal API has a 301.78 million sq ft of total saleable area in-hand, out of which 83 million sq ft valuing Rs 6,926 crore has been sold till the third quarter of this fiscal.

In the first six months of the current fiscal, Ansal has reported 54 per cent increase in its net profit to Rs 61.55 crore against Rs 39.89 crore in the corresponding period of this fiscal.

The revenues rose by 79 per cent to Rs 604.50 crore as compared to Rs 337.31 crore in the review period.