Ansal Properties sells Rs400 crore worth properties in May

Ansal Properties has sold nearly Rs400 crore worth projects, comprising 2.93 million sq ft of spaces in May this year

Witnessing robust demand, realty firm Ansal Properties & Infrastructure has sold nearly Rs400 crore worth projects, comprising 2.93 million sq ft of spaces in May this year.

According to an operational update sent to its investors, the company has sold nearly Rs700 crore of projects in the first two months of this fiscal.

In May 2011, the company booked sales of 2.93 million sq ft, aggregating to sale value of about Rs397.7 crore, the presentation said.

The major chunk of this sale was contributed by two of its residential projects in Gurgaon-Esencia and Fernhill, it added.
"Consequently, the total area sold in two months in FY12 increased to 6.43 million sq ft, aggregating to sale value of about Rs698.9 crore," the company said.

Out of its different residential projects, group housing scheme received highest demand by registering Rs195.05 crore worth sale.

It was followed by villas with Rs94.44 crore sales and plots with Rs62.93 crore sales, Ansal Properties said in the presentation.

Besides, the company told its investors that it had collected Rs147.2 crore from its customers in May. Following this collection, the National Capital-based firm has generated Rs295.7 crore in this fiscal.

Earlier, Ansal Properties had said it planned to reduce its debt by about Rs350 crore in 2011-12 through its cash flows, which was expected to be around Rs2,000 crore in this fiscal.

The company has a net debt of Rs1,484 crore as on 31 March 2011. It has come down from Rs1,630 crore a year-ago.

The real estate developer at present has a net land bank of over 8,500 acres in various locations across the country.

The company had reported a consolidated net profit of Rs13.55 crore for the quarter ended 31 March 2011, compared to a loss of Rs31 lakh in the year-ago period due to robust demand. The net sales increased by 61.32% to Rs330.16 crore from Rs204.66 crore in the same period last year.

For the entire 2010-11, the consolidated net profit of the company soared by 52.16% to Rs108.05 crore from Rs71.01 crore in the previous fiscal. The net sales in FY11 jumped by 48.68% to Rs1,287.82 crore from Rs866.14 crore in FY10.

On Monday, Ansal Properties ended 0.84% down at Rs41.10 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.01% to 18,266.03.

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Rains so far good; will help produce 102 million tonnes rice: Agriculture secretary

The progress of southwest monsoon and its spread across the country is ‘perfect’ till date, agriculture secretary PK Basu said, adding that he hoped that the area under paddy and other kharif crops will be better than last year

New Delhi: Buoyed by initial progress of monsoon, the government expects to achieve a record rice production of 102 million tonnes in the 2011-12 crop year, reports PTI quoting a top official of the agriculture ministry.

“This year, the starting of monsoon rains have been damn good. If this kind of rains continue, I am confident that the country’s rice production will touch 102 million tonnes,” agriculture secretary PK Basu said in an interview to PTI.

The progress of southwest monsoon and its spread across the country is ‘perfect’ till date, he said, adding that he hoped that the area under paddy and other kharif crops will be better than last year.

However, he said, “But we have to watch rains in July month as they are very important for sowing of kharif crops.”

The agriculture ministry has fixed a target of 102 million tonnes for the 2011-12 crop year (July-June). Bulk of the paddy is sown in the kharif season, which has already started from the current month.

Mr Basu further said the sowing of kharif crops is not in full swing and the announcement of hike in the minimum support price (MSP) will help farmers to take a considered view on what to plant in the current season.

The government announced a hike of up to 16% in the MSP of kharif crops. MSP of paddy (common) has been fixed at Rs1,080 per quintal, while that of cotton (long length staple) at Rs3,300 per quintal.

Southwest monsoon set in over Kerala on 29th May, two days earlier than the forecast made by the India Meteorological Department (IMD).

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Punj Lloyd wins Rs678crore order from N-Power Corp

The contract is scheduled to be completed in four years

Punj Lloyd Group today said it has won an engineering, procurement and construction (EPC) order worth Rs678 crore order from Nuclear Power Corporation for piping work at four pressurised heavy water reactors of the state-run firm.

"The scope of the work includes engineering, procurement, erection and commissioning of nuclear equipment and piping for all the systems inside the nuclear reactor buildings," Punj Lloyd said in a communique to the Bombay Stock Exchange.

Out of the four pressurised heavy water reactors (PHWRs), each having 700MW capacity, two are located at Kakrapara Atomic Power project in Gujarat and two at Rajasthan Atomic Power Project, near Kota.

The contract is scheduled to be completed in four years, the company said.

On Monday, Punj Lloyd ended 7.59% up at Rs70.85 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.01% to 18,266.03.

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