Ansal Properties sales booking down 23% at Rs 558 crore

NEW DELHI: Realty firm Ansal Properties and Infrastructure today said its sales bookings fell 23 per cent to Rs 558 crore during the first quarter of this fiscal due to lower realisation compared with the year-ago period.

The company had achieved a sales bookings of Rs 726.5 crore in the April-June quarter of last fiscal, Ansal said in a filing to the BSE.

Ansal API sales volume fell marginally to 4.56 million sq ft in the first quarter as against 4.88 million sq ft in the year-ago period. The realisation dropped sharply to Rs 1,224 per sq ft from Rs 1,488 a sq ft during the review period.

The decline in sales realisation was mainly due to launch of projects in regions where prices are lower.

Total area sold stood at 20.37 million sq ft during 2012-13 fiscal, aggregating to sale value of Rs 2,581 crore.

The company's net debt declined to Rs 1,000.58 crore from Rs 1,006.66 crore as on March 31, 2013.

During the April-June quarter of this fiscal, revenue rose 34 per cent to Rs 353 crore against Rs 264 crore in the year-ago period.

However, net profit had declined by 41 per cent to Rs 8.69 crore compared with Rs 14.81 crore in the corresponding period of the last fiscal.

Ansal has land reserves of 9,731 acres out of which 7,156 acres has been acquired or agreed to be acquired by third parties till 31st March 2013.

The company is currently developing 18 integrated townships (including two Hi-Tech townships) with maximum saleable area being in 'residential' segment.
Majority of the total saleable area is being developed in company's two largest townships -- 'Sushant Golf City, Lucknow (3,530 acres) and Megapolis Dadri, Greater Noida (2,504 acre).