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DB Realty has posted 19 per cent rise in net profit at Rs 299 crore for the year ended March 31, 2011, against Rs 252 crore logged in the previous year.
Total income rose 35 per cent to Rs 1,327 crore (Rs 980 crore).
DB Realty's promoters Mr Shahid Balwa and Mr Vinod Goenka are in jail following the CBI investigation pertaining to the grant of 2G licences in which former Telecom Minister, Mr A. Raja, had been arrested.
Mr N. Shridhar, Group - Director (Business Strategy and Finance), DB Realty, said, “We have still managed to make progress on our key business parameters while dealing with the rising input cost. DB Realty has over 83.5 million square feet of developable area, 33.5 million sq.ft. is in ongoing projects and 50 million sq.ft. in forthcoming projects.”
The board of the company has been reconstituted with Mr K.M. Goenka as Chairman.
Other members include Mr Usman Balwa, Mr Vinod Goenka, Mr Mahesh Gandhi, Mr Jagat Killawala, Mr N.M. Rafique and Mr Janak Desai, the company said.
DB Realty's debt stands at Rs 465.60 crore, with the debt to equity ratio at 0.14.
On the BSE, the company's scrip closed 6.90 per cent higher at Rs 80.60 on Wednesday.
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