The company declared a dividend of Rs 0.60 per equity share (30% on Rs 2 per share) for the financial year ended March 2010.

Performance for the quarter and year ended March 2010

Quarter ended March 2010-

The consolidated net sales of the company during the quarter ended March 2010 rose by an excellent 159% to Rs 34.09 crore on a year on year basis primarily driven by the real estate and investment division which contributed the major revenue of the company. The land sales during the quarter stood at Rs 16.6 crore. The company sold the FSI of 1.5 lakh square feet during the quarter under review in Naglipoona in Delhi. The ceramics division however disappointed during the quarter under review.

The OPM improved to 76.9% during the quarter under review as compared to 38.6% during the corresponding quarter of the previous year due to lower cost of raw material and employee expenses as a result the absolute operating profit rose by an impressive 417% to Rs 26.22 crore. The company earned other income of Rs 12.63 crore as compared to other income of Rs 26.14 crore during Q4 FY 2009. Thus the PBIDT increased 24% to Rs 38.85 crore. The PBT before EO rose 24% to Rs 35.66 crore after effecting Rs 4.80 crore interest cost and a positive provisioning of depreciation allowance. The company earned an EO income of Rs 1.04 crore during the quarter ended March 2010 as compared to EO expense of Rs 1.04 crore during the previous fiscal. Thus the PBT after EO rose 33% to Rs 36.69 crore. After providing for tax expenses which was significantly lower at 16% during quarter ended March 2010 as compared to 79% during the corresponding quarter of the previous year, the consolidated net profit of the company rose to Rs 30.95 crore during Q4 FY 2010 as compared to Rs 6.01 crore during Q4 FY 2009.

Year ended March 2010-

The performance during the fiscal ended March 2010 was benign. Consolidated top-line rose 14% to Rs 286.32 crore during FY 2010 as compared to FY 2009. The OPM improved by 230 bps to 90.3% due to lower cost of raw material and employee expenses as a result the absolute operating profit rose 17% to Rs 258.49 crore. The other income fell 24% to Rs 53.46 crore. The PBT before EO rose just 5% to Rs 296.38 crore as the interest expenses and the depreciation allowance rose 941% and 24% during the fiscal under review. The company incurred an EO expense of Rs 8 lakh during the year as compared to EO expense of Rs 1.29 crore during the previous fiscal. Thus the PBT after EO rose 6% to Rs 296.30 crore. After providing for tax expenses which was significantly lower at 20% during the year ended March 2010 as compared to 26% during FY 2009, the net profit of the company rose 15% to Rs 238.19 crore.

Other developments

The company declared a dividend of Rs 0.60 per equity share (30% on Rs 2 per share) for the financial year ended March 2010.

The funds that the company raised through issue of Global Depository Receipts (GDR), have been and are being deployed, in company's ongoing projects relating to the construction of IT Parks, and projects relating to hospitality sector and surplus funds pending utilization have been placed as FDR's with banks.

The promoters currently hold around 61.35% of the total issued capital of the company.

The stock is currently trading at Rs 106 on the BSE.