Realty firm Ansal Properties and Infrastructure Ltd has reported a 41 per cent decline in its consolidated net profit at Rs 8.69 crore for the quarter ended June 30, 2013, on increased expenses and higher tax outgo.
The company had posted a net profit of Rs 14.81 crore in the year-ago period.
Total income from operations, however, rose 34 per cent to Rs 353.21 crore in the first quarter of this fiscal against Rs 264.23 crore in the corresponding period last fiscal.
The company said in a filing to the BSE that the board has appointed Prabhunath Misra as Additional Director and Managing Director with effect from yesterday.
Pranav Ansal, who was the company’s Vice-Chairman and Managing Director, has been re-designated as Vice-Chairman and Whole-time Director.
The New Delhi-based realty firm is currently developing 18 integrated townships (including two hi-tech townships) with maximum saleable area being in ‘residential’ segment.
Majority of the total saleable area is being developed in two townships (hi-tech) — Sushant Golf City, Lucknow (3,530 acres) and Megapolis Dadri, Greater Noida (2,504 acres).