Peninsula Land registers impressive growth for 2005-06 Profit After Tax at Rs. 77.18 Crore
Mumbai, April 21, 2006: Peninsula Land Limited (PLL), earlier known as Morarjee Realties Limited (BSE Code: 503031), one of the largest players in the Indian real estate domain, today announced their results for the quarter and fiscal year ended March 2006.
Total revenues for the quarter ended March 2006 were Rs. 78.98 crore compared to Rs. 26.81 crore for the same quarter last year
Total revenues for the year ended March 2006 were Rs. 184.38 crores compared to Rs. 64.14 crore for the corresponding period last year. This growth in revenues was on the back of:
- Sale of developed properties
- Further Revenues recognized in respect of projects under progress
Profit before Tax for the quarter ended March 2006 stood at Rs. 46.31 crore
Profit before Tax for the year ended March 2006 stood at an impressive Rs. 84.13 crore compared to a loss of Rs. 9.52 crore for the corresponding period last year
Net Profit for the quarter ended March 2006 stood at Rs. 39.56 crore
Net Profit for the year ended March 2006 stood at Rs. 77.18 crore compared to a Loss of Rs. 9.52 crore for the corresponding period last year
The Results for the current year are not strictly comparable with that of the previous year as the current year's results include operations of Piramal Holdings Limited (PHL) and leasing business of Piramyd Retail and Merchandising Private Limited (PRMPL), which were merged with the Company effective 1st April 2005.
Said Ms. Urvi Piramal, Executive Vice Chairperson, Peninsula Land Limited, post the announcement of the Annual Financial Results, "The merger of PHL with the Company has resulted in synergies, leading to improved operational efficiencies. We are extremely positive about the outlook for the Company and believe that we are well placed to take advantage of opportunities that are presented by a very strong real estate market. Furthermore, as we continue to look to the future, we are exploring new opportunities with regard to Township development and SEZs as we expand our presence into other geographies".
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