Ansal Properties sells 9.54 mn sq ft for Rs 1,138 cr in Apr-Jul

NEW DELHI: Realty firm Ansal Properties and Infrastructure today said it has sold 9.54 million sq ft of area for Rs 1,138 crore during the first four months of the current fiscal.

During the entire 2010-11 fiscal, the company had sold 22.43 million sq ft for Rs 2,392.7 crore.

"Total area sold in four months ended FY 2012 increased to 9.54 million sq ft, aggregating to total sale value of Rs 1,138.1 crore," Ansal said in latest operational updates.

The average realisation stood at Rs 1,433 per sq ft in July, 2011 as against Rs 1,404 a sq ft in the previous month.

"Major sales booked in Phase I and Phase II of Sushant Golf City, Lucknow during the month (July)," the company said.

Ansal had recently reported a nearly 44 per cent decline in consolidated net profit at Rs 21.74 crore for the quarter ended June 30 due to higher expenditure on construction.

The company had posted a net profit of Rs 38.79 crore in the year-ago period.

The total income, however, increased by 16.42 per cent to Rs 297.01 crore in the first quarter of this fiscal as against Rs 255.12 crore in the corresponding period of last fiscal.

Ansal's total expenditure grew to Rs 245.17 crore during the June quarter of 2011-12 fiscal from Rs 182.98 crore in the year-ago period.