Banking on the sales from commercial projects in Mumbai in the April-June period, real estate developer Akruti City posted a 284 per cent growth in the first quarter of FY09 as compared to corresponding quarter of previous financial year.
Akruti registered a net profit of Rs 170.90 crore for the June quarter as compared to a net profit of Rs 44.48 crore it posted in the corresponding quarter last year. The company's total income also went up 238 per cent at Rs 238.86 crore in the first quarter of FY09 as compared to Rs 70.62 crore in the corresponding quarter of last year.
"Across the board, Akruti City continues to execute at new levels of excellence. This has helped the company to deliver to its aggressive growth targets. This quarter has been a very encouraging and solid testimony to the company's ability to excel," said Vyomesh Shah, managing director of Akruti City.
