Real estate firm DB Realty today reported 71 per cent increase in its consolidated net profit to Rs 108.7 crore for the quarter ended December 31, as against Rs 6.37 crore in the year-ago period.
The revenue rose by 51 per cent to Rs 273.2 crore during the October-December quarter, as compared with Rs 181.3 crore in the corresponding quarter last fiscal, DB Realty said in a filing to the Bombay Stock Exchange.
"This quarter has been challenging for the real estate sector given the tight liquidity condition and rise in interest cost. Despite these, DB Realty's performance has been stable as we continue to consolidate our portfolio," DB Realty Group Director (Strategy and Finance) N Sridhar said.
The company's debt stands at Rs 387 crore as on December 31, 2010.
The Mumbai-based firm sold 1.17 million sq ft of area during the third quarter worth Rs 965 crore.
DB Realty has developed more than 14.4 million sq ft of area so far and currently has 61 million sq ft of housing, commercial and hospitality space in hand.
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