Hot Pursuit     28-May-12
DB Realty builds on good Q4 earnings
DB Realty jumped 4.26% to Rs 93 at 12:24 IST on BSE after consolidated net profit jumped 151.8% to Rs 20.27 crore on 75.1% decline in net sales to Rs 97.72 crore in Q4 March 2012 over Q4 March 2011.

The company announced the results on Saturday, 26 May 2012.

Meanwhile, the BSE Sensex was up 151.28 points or 0.93% to 16,369.10.

On BSE, 1.63 lakh shares were traded in the counter as against average daily volume of 2.47 lakh shares in the past one quarter.

The stock hit a high of Rs 93.20 and a low of Rs 88.10 so far during the day. The stock had hit a 52-week high of Rs 102.50 on 22 February 2012. The stock had hit a record low of Rs 45.05 on 22 December 2011.

The stock had outperformed the market over the past one month till 25 May 2012, surging 17.68% compared with the Sensex's 5.44% fall. The scrip had also outperformed the market in past one quarter, rising 13.85% as against Sensex's 9.52% decline.

The real estate developer has an equity capital of Rs 243.26 crore. Face value per share is Rs 10.

DB Realty's consolidated net profit fell 71.1% to Rs 86.36 crore on 53.4% decline in net sales to Rs 590.86 crore in the year ended 31 March 2012 over the year ended 31 March 2011.

Commenting on the results, Mr Vinod Goenka, Chairman, DB Realty said, "In spite of the sluggish market conditions, DB Realty's financial performance over the last year has been stable. The tricky macroeconomic environment, coupled with rising material costs and interest rates have impacted the realty industry as a whole. Overall we have managed to make progress on our key business parameters".

DB Realty is a real estate developer in India. The company's expanding portfolio consists of 70 million square feet (sq ft) of property. Most of the company's projects are based in and around Mumbai, and are under various stages of planning and construction.

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