Omaxe cuts gross debt by Rs 213 cr last fiscal
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Omaxe cuts gross debt by Rs 213 cr last fiscal

Last Updated: Monday, June 04, 2012, 14:21
 
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Omaxe cuts gross debt by Rs 213 cr last fiscal
New Delhi: Realty firm Omaxe has reduced its gross debt by Rs 213 crore in the last fiscal to Rs 1,339.55 crore from internal accruals.

According to investors presentation, Omaxe's gross debt has come down to Rs 1,339.55 crore as on March 31, 2012 from Rs 1,552.3 a year-ago.

The debt-equity ratio has been brought down to 0.76 in 2011-12 fiscal from 0.93 in the previous financial year.

The scheduled debt repayment for the current fiscal stands at Rs 530.39 crore, it added.

Omaxe sold 8.82 million sq ft worth Rs 1,526 crore in the last fiscal. In 2010-11 fiscal, it had sold 9.76 million sq ft for Rs 1,709 crore. The sales realisation has declined to Rs 1,729 per sq ft in 2011-12 from Rs 1,751 in the previous fiscal.

Last week, the company had reported more than two-fold jump in consolidated net profit for the quarter ended March 31, 2012 at Rs 23.73 crore as against Rs 11.67 crore in the year-ago period.

The income from operations grew by six percent at Rs 603.58 crore in the fourth quarter of last fiscal compared to Rs 568.60 crore in the corresponding period of previous year.

In 2011-12 fiscal, the net profit fell marginally to Rs 90.38 crore as compared with Rs 92.71 crore in previous year. But, income from operations rose by 21 percent at Rs 1,848.75 crore in FY'12 as compared to Rs 1,525.94 crore in 2010-11.

Omaxe has more than 4,500 acres of land bank across the country with a developable area of 106 million square feet. It is working on 42 projects, including 17 townships, 16 group housing, seven shopping malls & commercial complexes and 2 hotels.

That apart, the company is constructing 10 projects in infrastructure segment comprising of EPC contracts, roads and bridges having a book value of Rs 1,018 crore.

PTI



First Published: Monday, June 04, 2012, 14:21


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