Jaypee Infratech quarterly net profit falls 2.58 percent
By IANSTuesday, January 25, 2011
NEW DELHI - Infrastructure major Jaypee Infratech Limited (JIL) has posted a decrease of 2.58 percent in net profit at Rs.378.51 crore during the quarter ended December 2010 as against Rs.388.53 crore for the like period last fiscal.
The total revenue of the company stood at Rs.755.38 crore during the quarter as compared to Rs.500.92 crore during the like quarter of last fiscal, the company said in a statement Tuesday.
The company is engaged in development of the 165-km-long Yamuna Expressway connecting Noida and Agra and the associated real estate development along it.
JIL is developing five integrated cities of 1,235 acres each along the expressway comprising a total development opportunity of 530 million square feet, the statement said.
It plans to develop these integrated townships with all basic and modern amenities including educational, medical, recreational, security, sewage treatment plants and water treatment plants along with complete power backup.
“The company shall not only benefit from the ensuing growth phase of infrastructure sector but shall contribute significantly in the infrastructure development of India,’ said Manoj Gaur, JIL chairman.
“Keeping in view the performance and future prospects of the company’s business and the increasing absorption across the real estate markets, our company is poised for sustained growth and the outlook is bright,” he added.
