Vipul Q2FY11 net sales up by 68.76% at Rs 89.93 cr

PAT up by 20.46% at Rs. 6.30 crore

Q. E. September 2010 v/s Q.E. September 2009

• Revenues increased by 68.76% to Rs. 89.93 crore;
• EBIDTA increased by 11.76% to Rs. 13.02 crore
• PAT increased by 20.46% to Rs. 6.30 crore
• Earnings per share at Rs. 0.52 ( Face value Re1/-)

Vipul Limited, one of India’s leading real estate companies reported net sales of Rs. 89.93 crore for the quarter ended September 30, 2010 compared to Rs. 53.29 crore in corresponding period of last fiscal year, registered a growth of 68.76 %.

Net Profit for the quarter stood at Rs. 6.30 crore, a growth of 20.46 % as compared to Rs. 5.23 crore posted in the same period of last fiscal year. Earnings per share (EPS) stood at Rs. 0.52 (Face Value Re 1/-)  as compared to Rs. 0.87(Face value Rs 2/-)  in corresponding period of last fiscal year. The operating margin for Q2 FY11 stood at 19.25%.

Net sales for the 6 months ended September 30, 2010 grew by 41.46 % to Rs. 170.84 crore as compared to Rs. 120.77 crore in the corresponding period of last fiscal year.

Earnings per Share (EPS) worked out to Rs. 0.80 (Face Value Re 1/-)  as compared to Rs. 1.77 (Face value Rs 2/-) for the same period of last fiscal year. The operating margin for the 6 months ended September 30, 2010 was at 16.48%.

Major Developments:
The Company has launched a residential Group Housing Project in Sector-81, Gurgaon comprising of 10.5 Acres of land during the month of September 2010 with a saleable area of 0.90 mn. Sq. ft. The project is expected to be completed in 3 years with an estimated realizable value of Rs. 300 Crores (Approx).

Commenting on the results Mr. Punit Beriwala, Managing Director said, “We are of firm opinion to achieve the set targets in view of the revived economy as envisaged from the performance of the Company during the Quarter Ended September 30, 2010“

About Vipul Ltd
Vipul Ltd. has presence across the verticals of real estate i.e. Commercial, Residential, Hotel and  Office Space. It has so far delivered approximately 7.00 million sq ft (including JV’s) and is presently working on an area of about 10 million sq. ft. through Integrated Townships, Premium Villas &   Apartments, Independent Floors, Retail & Commercial Towers and Hotels.

Presently Vipul Ltd has a land bank of more than 1000 acres with presence across major cities like Gurgaon, Faridabad, Dharuhera, Bawal, Ludhiana, Bhubaneswar, Hyderabad and Nagpur