Vipul Ltd First Quarter Financial Result

Vipul Ltd India’s leading real estate developer, has recorded revenues of Rs 81 crore for the quarter ended 30 June 08 an increase of 5% from seventy seven crore rupees in Q1FY08. EBITDA for the Q1FY09 stood at Rs 15.38 crore, up by 21 percent as compared to Rs 12.74 crore in the corresponding period previous year. Net profit for the year stood at Rs 8.89 crore in Q1 FY09 as compared to Rs 8.00 crore in Q1FY08. The EPS for Q1 FY09 stood at Rs 1.48 compared to Rs 1.39 in the corresponding quarter last year.

The Company had currently announced the launch of Vipul Gardens, a Group Housing project at Dharuhera. The project is strategically located on NH-8 in Dharuhera, a half hour drive from Gurgaon. Vipul World Dharuhera would have a total built up area of approx. One Million Square Feet and will showcase six hundred thirty five apartments with a choice of living between 2 & 3 bedroom apartments.

Vipul Limited has already delivered about 6.5 Million Sq. Ft. and is presently working on an area of about Ten Million Square Feet in Gurgaon, Manesar, Dharuhera, Ludhiana, Bhubaneswar and Nagpur.

One Comment

  1. Posted July 28, 2008 at 3:26 am | Permalink

    Just sometime back, the ‘shop till you drop’ mantra of Indian consumers spelt nirvana in terms of business for real estate developers. But now, with boom time having become a thing of the past, the correction in the realty sector has hit the retail space too. According to latest figures, the top eight cities in the country are witnessing a 20% vacancy across 40 million sq ft of operational mall space. The twin reasons for this huge vacancy is rising rental values and lack of quality space. SundayET, along with global real estate services firm Cushman & Wakefield, conducted a survey in 112 malls across the top eight cities which have more than 8.5 lakh sq ft of vacant space. The study found that all the retail space that has been developed in the last decade has not been able to get the desired retailer patronage. Most of the supply has come in the same micro-markets targeting the same catchment and created an over-supply within respective neighborhoods. Of the 112 malls across these cities, only a handful is recognized as successful mall developments, the survey stated. Leading the pack of vacant malls is Ahmedabad — where there is 34% space vacant. Mumbai and Delhi follow with 23% and 22% vacant space, respectively. It seems Chennai is still a hot destination as far retail space is concerned, as it has no vacant retail space. With the influx of international retailers and growing urbanization in the country, the demand for retail real estate continues to remain strong. However, now it is focused on premium high streets and promising developments. Industry sources say initially most malls in the same micro-market had similar rental rates. But as they became operational, the rentals started to get aligned with revenues and footfalls.For more view-

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