Millennium Post

Ansal API records net profit of Rs 5.10 crore in last fiscal year

Ansal API records net profit of Rs 5.10 crore  in last fiscal year
Sushil Ansal, chairman Ansal API addressed the shareholders of the company at the FICCI auditorium on Friday. Ansal thanked all shareholders and board of directors, for their immense contributions to the company. He also touched upon Ansal APIs performance during FY 2011-12.

Ansal also shared the details of the global and domestic economic environment that prevailed during the financial year as these had strong implications for the real estate sector’s performance. 2011-12 was a difficult year for the real estate sector in India. The industry was most affected by the high cost of capital and a virtual freeze in availability of finance. The net profit for the FY 2011-12 of the company stood at Rs 5.10 crores on a consolidated basis, as against Rs. 108.05 crores in the FY 2010-11. The total income for the FY 2011-12 stood at Rs. 1172.46 crores on a consolidated basis, as compared to Rs 1300.27 crores for FY 2010-11. The net profit for the FY 2011-12 on standalone basis decreased by Rs 41.57 crores to Rs 34.58 crores from Rs 76.15 crores in the FY 2010-11.

Ansal API has at present many projects under various stages of implementation across residential, commercial, retail and hospitality segments, as well as SEZs, IT/ITES and industrial parks, and, social infrastructures - such as educational institutions, hospitals and clubs. The majority of the projects are located in the NCR and the states of Uttar Pradesh, Haryana, Rajasthan and Punjab. The company has 18 integrated townships, including two hi-tech townships. The company also has extensive land reserves of approximately 9,700 acres out of which about 40 per cent is strategically located in the NCR and the rest are in key cities of Uttar Pradesh, Haryana, Rajasthan and Punjab.

The majority of the total saleable area of about 60 per cent is reserved for residential development. The company has launched several projects during the year totalling an area of 12.08 million square feet and sold a total of 22.69 million square feet spread out over the four quarters.

Ansal API takes its social responsibility very seriously. Kusumanjali Foundation, a non-profit making company  is promoting literary works of budding writers in Hindi and other regional languages. The Chiranjiv Charitable Trust (CCT), set up by the Ansals in 1976, currently runs schools in Palam Vihar and Sushant Lok in Gurgaon. Currently over 6000 students are studying in these schools. The institutes run under the Ansal brand name has recently acquired the status of a university and is now called Ansal University.

Ansal API endeavors to continue to focus on high growth markets in NCR as well as in other states of northern India by expanding its existing townships to increase returns through economies of scale as well as entering into collaboration for new projects.
Agencies

Agencies

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