Ansal API cuts net debt by nearly Rs 252 crore in FY-12

NEW DELHI: Realty firm Ansal Properties and Infrastructure ( Ansal API) has reduced its net debt by nearly Rs 252 crore during the last fiscal on improved cash flow.

The company's net debt stood at Rs 1,209.6 crore as on March 31, 2012, against Rs 1,461.2 crore at the end of 2010-11 fiscal, Ansal API said in an investors presentation.

Ansal achieved a sales booking of 22.70 million sq ft of area worth Rs 2,703.7 crore in 2011-12. In the previous year, it had sold 22.43 million sq ft for Rs 2,392.6 crore.

The sales realisation improved to Rs 1,191 per sq ft in 2011-12 from Rs 1,067 a sq ft in the previous fiscal.

"Realisations started improving as the new sales are being booked majorly in the extended phases of the existing integrated townships wherein the company is witnessing better realisations on account of its potential being witnessed in the development of the initial phases of the existing townships," the presentation said.

Ansal API said it has completed the financial closures of committed capital from Redfort and ICICI Pru AMC with the inflow of Rs 145 crore and Rs 47 crore, respectively, during the last fiscal.

The company yesterday reported a consolidated loss of Rs 22.36 crore for the quarter ended March as against a net profit of Rs 12.35 crore in the year-ago period.

The revenue fell to Rs 325.25 crore in the fourth quarter of FY'12 against Rs 334.79 crore in the year-ago period.

In fiscal 2011-12, Ansal posted a net profit of Rs 4.93 crore as compared to Rs 101.48 in FY'11. It recorded a revenue of Rs 1,160.07 crore in the FY'12 as against Rs 1,268.21 crore in previous fiscal.