Realty firm Ansal Properties and Infrastructure has reported a 33.41% increase in consolidated net profit to Rs 27 crore for the quarter ended September due to lower expenditure on construction activities.
The company had posted a net profit of Rs 20 crore for the corresponding year-ago period.
However, the company's revenue declined by 6.5% to Rs 307 crore in the second quarter this fiscal from Rs 328 crore in the corresponding period of the previous fiscal, Ansal Properties said in a statement.
Ansal's expenditure on construction stood at Rs 177 crore during the July-September quarter this fiscal, as against Rs 371 crore in the year-ago period.
The company sold about 2.6 million square feet of area worth Rs 340 crore during the second quarter this fiscal.
Average realisation stood at Rs 1,326 per square foot during the quarter, up about 50% in comparison to the same quarter a year ago.
Ansal is currently developing 19 integrated townships and has a land bank of over 9,000 acres.