Ansal developing 19 townships, sales booking down by 13% in Apr-Aug

Ansal developing 19 townships, sales booking down by 13% in Apr-Aug New Delhi: Realty firm Ansal Properties and Infrastructure is currently developing 19 townships. It has a land bank of nearly 10,000 acres, of which 40 percent is in the national capital region.

It is developing two large townships -- Sushant Golf City in Lucknow spread over 3,530 acres and Magapolis at Dadri near Greater Noida over 2,504 acres.

Out of total sales bookings, Uttar Pradesh contributed the maximum Rs 800.6 crore, followed by Haryana at Rs 170.9 crore.

The firms’ sales bookings in the first five months of this fiscal have declined by 13 percent at Rs 1,088.8 crore compared with the year-ago period.

The company had sold properties worth Rs 1,250.1 crore in the April-August period of last fiscal, according to company's latest operational update.

In volume terms, the company sold 7.32 million square feet area in first five months of this fiscal against 10.43 million square feet in the corresponding period of previous year.

However, the company's sales realisation improved by 24 percent to Rs 1,487 per square feet during the review period.

"Mix of sales across the asset classes - maximum being in residential segment i.E. Plots, low-rise built-ups & high-rise group housings," the company said.

The company's net debt reduced marginally in the first quarter of this fiscal to Rs 1,197.9 crore from Rs 1,220.2 crore as on March 31, 2012.

Ansal's revenue declined to Rs 263.2 crore in the first quarter of this fiscal compared to Rs 302.15 crore in the year-ago period, while net profit fell to Rs 14.8 crore from Rs 21.78 crore in the review period.

PTI