29.04.10 The Puravankara Projects Group Net profit for the year ended 31 March 2010 was Rs 1.45bn with revenues of Rs 4.78bn. The net profit margin for the year at 30.38% is above industry levels and has been achieved despite acute market pressures on profitability. AFFORDABLE HOUSING INITIATIVE: The first two projects of Provident Housing, the 100% affordable housing subsidiary of Puravankara Projects Limited, have a total of 5,534 homes covering an area of 5.69 million sft. The first project in Chennai, Provident Cosmo City, measures 2.23 million sft. and comprises 2,174 apartments. Provident’s second project, Provident Wellworth City in Bangalore, is a 3.46 million sft township with 3,360 apartments and includes over 0.2 million sft of retail space. Sales at these two projects have been most encouraging and construction is on at full swing at both locations. Sobha Developers For the fourth quarter ended March 31, 2010, the company clocked a turnover of Rs4030mn compared to Rs1635mn in Q4 of FY 08-09, up 146%. The Profit after tax stood at Rs557mn compared to Rs70mn in Q4 of FY08-09, up 696%. |
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