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Mumbai-based D B Realty, on a consolidated basis, has posted 70 per cent rise in net profit at Rs 109 crore for the quarter ended December 31, 2010, against Rs 64 crore logged in the same period last year. Total revenue was up 51 per cent at Rs 273 crore (Rs 181 crore).
The company said 1.17 million sq. ft (including transfer of development rights) were sold in the quarter. Mr N. Shridhar, Group Director, said, “This quarter has been a challenging one for real estate sector, given the tight liquidity condition and rise in interest cost prevailing in the market.
Despite this, our performance has been stable as we continue to consolidate our portfolio and performance going forward.” Gross debt as of December 31, 2010, stood at Rs 387 crore. The company's scrip on the BSE was marginally up at Rs 152 on Monday.
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