Category: Breaking Corporate India Earnings News

Net profit of Gulshan Sugars & Chemicals rose 78.57% to Rs 1.50 crore in the quarter ended March 2007 as against Rs 0.84 crore during the previous quarter ended March 2006. Sales rose 38.15% to Rs 12.24 crore in the quarter ended March 2007 as against Rs 8.86 crore during the previous quarter ended March 2006.

For the full year, net profit rose 83.57% to Rs 5.14 crore in the year ended March 2007 as against Rs 2.80 crore during the previous year ended March 2006. Sales rose 19.05% to Rs 49.13 crore in the year ended March 2007 as against Rs 41.27 crore during the previous year ended March 2006.

Net profit of Nahar Industrial Enterprises declined 35.09% to Rs 21.35 crore in the quarter ended March 2007 as against Rs 32.89 crore during the previous quarter ended March 2006. Sales rose 17.12% to Rs 211.34 crore in the quarter ended March 2007 as against Rs 180.44 crore during the previous quarter ended March 2006.

For the full year, net profit declined 15.67% to Rs 67.86 crore in the year ended March 2007 as against Rs 80.47 crore during the previous year ended March 2006. Sales rose 29.75% to Rs 900.63 crore in the year ended March 2007 as against Rs 694.14 crore during the previous year ended March 2006.

Net profit of Godfrey Phillips India rose 472.98% to Rs 18.45 crore in the quarter ended March 2007 as against Rs 3.22 crore during the previous quarter ended March 2006. Sales rose 38.04% to Rs 232.51 crore in the quarter ended March 2007 as against Rs 168.44 crore during the previous quarter ended March 2006.

For the full year, net profit rose 46.52% to Rs 88.10 crore in the year ended March 2007 as against Rs 60.13 crore during the previous year ended March 2006. Sales rose 15.29% to Rs 772.54 crore in the year ended March 2007 as against Rs 670.11 crore during the previous year ended March 2006.

Indiabulls Real Estate through its wholly owned subsidiaries, has acquired two housing projects in Chennai.

Selene Estate, a wholly owned subsidiary of the company has entered into an agreement to acquire 50 acres of land to develop a residential project at Jalladianpet, a suburb of Chennai located next to IT corridor at Old Mahabalipuram Road. 16 acres of land have already been acquired and registered.

Fama Land Development, a wholly owned subsidiary of the company, has entered into an agreement to acquire 241 acres of land to develop a residential and commercial project located near National Highway 5 , an alternate industrial corridor being promoted by the Tamil Nadu State Government. 198 acres of land have already been acquired and registered.

The company, through its wholly owned subsidiaries, has acquired 396 acres of land in Panvel, near Mumbai, to develop large scale residential projects.

The company has received Rs 264.49 crore from Ariston Investment Sub A and Rs 172.89 crore from Ariston Investment Sub B towards the sale of equity stakes of 7.95%, each in Indiabulls Properties and Indiabulls Real Estate Company. Further, the company is in the process of completing both these transactions.

With respect to the formal approval to Indiabulls Industrial Infrastructure (a wholly owned subsidiary of the company), for development of a multi product SEZ at Nasik, the company is in discussions with MIDC to finalize MIDC’s stake in the joint venture.

Net profit of Indian Hotels Co [Taj Hotels] rose 70.60% to Rs 134.52 crore in the quarter ended March 2007 as against Rs 78.85 crore during the previous quarter ended March 2006. Sales rose 41.93% to Rs 505.16 crore in the quarter ended March 2007 as against Rs 355.93 crore during the previous quarter ended March 2006.

For the full year, net profit rose 75.42% to Rs 322.39 crore in the year ended March 2007 as against Rs 183.78 crore during the previous year ended March 2006. Sales rose 42.45% to Rs 1544.51 crore in the year ended March 2007 as against Rs 1084.26 crore during the previous year ended March 2006.

Net profit of Shalimar Paints rose 62.05% to Rs 2.69 crore in the quarter ended March 2007 as against Rs 1.66 crore during the previous quarter ended March 2006. Sales rose 29.43% to Rs 79.86 crore in the quarter ended March 2007 as against Rs 61.70 crore during the previous quarter ended March 2006.

For the full year, net profit rose 39.30% to Rs 4.75 crore in the year ended March 2007 as against Rs 3.41 crore during the previous year ended March 2006. Sales rose 17.97% to Rs 256.05 crore in the year ended March 2007 as against Rs 217.04 crore during the previous year ended March 2006.

Net profit of SREI Infrastructure Finance rose 97.62% to Rs 31.50 crore in the quarter ended March 2007 as against Rs 15.94 crore during the previous quarter ended March 2006. Sales rose 60.50% to Rs 123.44 crore in the quarter ended March 2007 as against Rs 76.91 crore during the previous quarter ended March 2006.

For the full year, net profit rose 63.67% to Rs 79.25 crore in the year ended March 2007 as against Rs 48.42 crore during the previous year ended March 2006. Sales rose 75.50% to Rs 397.99 crore in the year ended March 2007 as against Rs 226.78 crore during the previous year ended March 2006.

Larsen & Toubro and Eastern Contracting LLC joint venture has bagged an order worth Rs 610 crore (AED 557.5 Million) from Victory Heights Golf Residential and Development LLC, United Arab Emirates, to build a prestigious residential property in Dubai City.

Victory Heights has undertaken the development of luxury Golf residential community in Dubai Sports city. The development’s 18-hole championship golf course is designed by renowned Golfer Ernie EIs.

The project is to be completed in 660 days from the date of commencement and involves construction of Package-2 of the villa development involving 295 grandeur villas of ground + 1 configuration.

The Company and Eastern Contracting LLC – which undertakes a variety of turnkey and other construction projects in UAE – have formed a joint venture to execute this project.

Rajesh Exports net profit rose 123.09% to Rs 33.33 crore in Q4 March 2007 as against Rs 14.94 crore in Q4 March 2006. Sales rose 0.75% to Rs 1796.52 crore in Q4 March 2007 as against Rs 1783.07 crore in Q4 March 2006.

The net profit rose 52.19% to Rs 101.28 crore in the year ended March 2007 (FY 2007) as against Rs 66.55 crore during the previous year ended March 2006 (FY 2006). Sales rose 25.75% to Rs 6893.37 crore in FY 2007 as against Rs 5481.87 crore in FY 2006.

The company decided on 12 June 2007 to initiate the development of 5 selected properties from the company’s existing land bank of 32 properties. This is the first phase of development that the company will be undertaking from the 32 strategically located properties owned by the company.

Government of India has granted ‘Navratna’ status to Power Finance Corporation and a formal investiture ceremony in this regard is scheduled to be held in New Delhi on 22 June 2007.

It will allow higher operational freedom to the board of directors of the company regarding extent of investment in joint ventures, incurring of capital expenditure, creation of below board level positions, investment in equity etc.