Ansal Properties posts Rs 22.3 crore loss in January - March quarter

NEW DELHI: Real estate developer Ansal Properties and Infrastructure today reported a consolidated loss of Rs 22.36 crore in the three months ended March, 2012.

The entity reported a profit after tax (PAT)of Rs 12.35 crore in January-March quarter of 2011, Ansal said in a statement.

The company's revenue stood at Rs 325.25 crore in the fourth quarter of FY'12 as against Rs 334.79 crore in the year-ago period.

"Continuing on the consolidation and development focus, the company has taken certain bold steps in the past to consolidate its existing position across various states and free up stuck capital in certain projects.

"The fact that in the past 6-8 quarter the company made all efforts to make sure that projects get developed on ground and resulted in the company to increase its collections from milestone based collection of sales booked in the past," the company's Vice Chairman and MD Pranav Ansal said.

In fiscal 2011-12, Ansal Properties and Infrastructure has posted a PAT of Rs 4.93 crore as compared to Rs 101.48 in FY'11.

The realty firm recorded a revenue of Rs 1,160.07 crore in the FY'12 as against Rs 1,268.21 crore in previous fiscal.