Religare Enterprises swings back to net profit

Religare Enterprises Ltd reported a full year net profit of Rs96.92 crore for the year ended 31 March 2010 as compared to net loss of Rs63.58 crore the previous year. During the period, the company’s total revenues increased 40% to Rs1,675.22 crore from Rs1,194.5 crore.

On a standalone basis, the company has posted a net profit of Rs55.51 crore for the full year as compared to net loss of Rs15.95 crore for the year to end-March 2009.

On Wednesday, Religare Enterprises shares closed 0.8% up at Rs416 on the Bombay Stock Exchange, while the Sensex ended at 0.8% down at 17,471 points.

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Godrej Properties to enter NCR market

Godrej Properties Ltd, the real estate development arm of the Godrej Group, said it will set up a residential project in the NCR (National Capital Region) in North India. The company has entered an agreement to develop about 1.1 million sq ft on nine acres of land in Sector 80 of Gurgaon.

The Mumbai-based company is developing the project in joint venture with Frontier Home Developers Pvt Ltd. The project will be a residential development with apartments and penthouses of varying configurations.

On Wednesday, Godrej Properties shares closed 3.1% up at Rs638 on the Bombay Stock Exchange, while the Sensex ended at 0.8% down at 17,471 points.

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ITDC appoints Anand Kumar as director

India Tourism Development Corp Ltd (ITDC) said it appointed Anand Kumar as the director of the company.

On Wednesday, ITDC shares closed 4.97% up at Rs104 on the Bombay Stock Exchange, while the Sensex ended at 0.81% down at 17,471 points.

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