DB Realty, which recently deferred announcement of its financial results citing pending audit work, today said it has posted a 19% increase in its consolidated net profit for the financial year 2011.
The company posted a net profit of Rs 298.7 crore for the year ended March 31, 2011 as compared to Rs 251.9 crore for the year ended March 31, 2010.
The company's total income increased by 35% at Rs 1,327.2 crore for FY 2011 as compared to Rs 980.3 crore for FY 2010.
DB Realty's main promoters are in jail and undergoing interrogation by Central Bureau of Investigation (CBI) in the 2G scam.
“In spite of the sluggish market conditions DB Realty’s financial performance over the last year has been encouraging. We have still managed to make progress on our key business parameters while dealing with the rising input costs. DB Realty currently has over 83.5 million square feet of developable area, 33.5 million square feet is in ongoing projects and 50 million square feet in forthcoming projects.”
The company said it has a debt of Rs 465.6 crore and a debt equity ratio of 0.14.
The company's stock was trading at Rs 79.35, nearly 5.25% higher than Wednesday's close.