Vipul Limited Posts Net Profit Of Rs41.69 Crore

Vipul Ltd, India’s leading real estate developer, has recorded consolidated revenues of Rs 288.49 crore for the period March 31, 2008 an increase of 35% from Rs 214.37 crore in FY07. EBITDA for the FY08 stood at Rs 73.76 crore, up by 7.87% as compared to Rs 68.38 crore in corresponding period last year. Net profit for the year stood at Rs 41.69 crore, as against Rs 41.57 crore in FY07. The EPS for FY08 stood at Rs 7.28.

For Q4FY08, Vipul Limited recorded revenues of Rs 81.07 crore, an increase of 49% from Rs 54.29 crore in Q4FY07. EBIDTA stood at Rs 20.23 crore, against Rs 22.42 crore in Q4 FY07. The net profit for the period stood at Rs 9.25 crore. The non annualized EPS for the quarter was Rs 1.81. Operating margins in the quarter stood at 25%.The net margins stood at 11.41%.

Vipul board at the meeting held on June 30, 2008 has recommended the dividend at 17.50% i.e Rs 0.35 per equity share of Rs 2 each for the year 2007-2008, subject to the approval of the shareholders.

Till now Vipul Limited delivered about 6.5 million sq ft (including JV’s) and is presently working on an area of about 10 million Sq. Ft. in Gurgaon, Manesar, Dharuhera, Ludhiana, Bhubaneswar and Nagpur.

Presently Vipul Ltd has a land bank of more than 1400 acres. The company has its presence in all verticals of real estate- Commercial, Residential, Hotel, Office Space and SEZ, which include all major cities like Gurgaon, Manesar, Dharuhera, Mohali, Amritsar, Ludhiana, Bhubaneswar, Hyderabad, Nagpur, Siliguri and Kolkata.

During the year, the company received capital infusion worth Rs. 234 crore through stake sale of 14.95%, to a USA based financial institution Wachovia Corporation.