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New Delhi, July 1

Real estate company Ansal Properties and Infrastructure Ltd on Tuesday posted a consolidated net profit of Rs 173.51 crore for fiscal ended March 2008, a 31.3 per cent increase over the previous fiscal. The real estate company’s net profit stood at Rs 132.12 crore in financial year 2007. The consolidated income rose to Rs 1,011.36 crore (Rs 881.56 crore) in 2007-08. Commenting on the company’s performance, Mr Sushil Ansal, Chairman, Ansal API, said, “Late ly, there has been turmoil for the overall economy and real estate sector in particular. However, Ansal API has recorded a reasonable growth — owing to the strong fundamentals that drive the company. We believe that the present state of economy is a temporary phenomenon and Ansal API is poised for sustained growth in years ahead.” He further pointed out that while 2007-08 saw approvals of various projects, the 2008-09 would witness commencement of execution of the projects. “We have been selective in launching our projects and that has contributed to our sustained growth immensely while enhancing value for our customer,” Mr Ansal pointed out.

– Our Bureau

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