Friday, August 1, 2008

Net profit of Kolte Patil fells by 7 % but Unitech, Puravankara Projects and IVRCL Infrastructure post growth in the 1st quarter of FY09

Kolte Patil: "which housing projects?"

Pune-based property company Kolte Patil’s net fell nearly 7 per cent mainly due to lifting of tax exemption on IT parks under section 80 IA.
The company posted a net profit of Rs 31.46 crore in the first quarter of FY09 as compared with Rs 33.87 crore in the comparable period last year.
However, the company’s revenues rose 17 per cent at Rs 104 crore from Rs 89 crore due to "higher realization from housing projects."


Unitech, the country’s largest listed developer, posted a 15.7 per cent growth in net profit during the quarter, mainly due to higher realisations the company made in the mid-income segment housing, in the range of Rs 40-45 lakh apartments.

Puravankara Projects:

Bangalore-based Puravankara Projects posted 40.62 per cent growth in year-on-year profit during the quarter due to higher realisations from the sale of apartments and income tax exemptions on its residential projects under section 80 IB. The company sold 1,000 apartments during the quarter.

IVRCL Infrastructure:

IVR Prime Urban Developers, the group’s real estate firm, posted a 263 per cent increase in net profit at Rs 5.44 crore during the Q1 period as against Rs 1.5 crore, while the turnover went up by 55 per cent at Rs Rs 32.25 crore.

Realty firms gain from mid-income group housing


  1. Sometimes we do feel that you are sold to the developers and speak for them….

    Now a days we are getting posts on varied topics like head message, new bikes and host lot of new things but how do you miss something like following:

    It’s hard to understand that you can miss something like this but find videos on Indian head message….

  2. I agree..No real insight through this blog.

  3. The country's second-largest property developer, Unitech, is planning to raise $1 billion (Rs 4, 200 crore) from private equity (PE) players for its hotel, commercial and retail projects across the country. It will raise funds by floating special purpose vehicles (SPVs) in different projects. The company will spend $ 300 million on hotel projects and $ 700 million on commercial and retail projects. These projects will be implemented in cities such as the National Capital Region and Mumbai among others.For more view-