Vipul Q2 net profit up 20% to Rs 6.3cr

NEW DELHI: Realty firm Vipul today reported a 20 per cent rise in its net profit to Rs 6.3 crore for the quarter ended September against Rs 5.23 crore in the year-ago period. Net sales grew by 69 per cent to Rs 89.93 crore during the second quarter of this fiscal as compared to Rs 53.29 crore in the corresponding period of previous year, Vipul said in a statement.

During the previous quarter, Vipul said it had launched a group housing project in Gurgaon on 10.5 acres of land. The project is expected to be completed in three years with an estimated realisation of Rs 300 crore.

The Gurgaon-based firm has so far delivered seven million sq ft (including joint ventures) and is presently working on an area of about 10 million sq ft. At present, Vipul has a land bank of more than 1,000 acres with presence across major cities such as Gurgaon, Faridabad, Ludhiana, Bhubaneswar, Hyderabad and Nagpur.