Vipul Ltd. records 213% increase in net profit

Vipul Ltd. records 213% increase in net profit

New Delhi: Vipul Ltd, India’s leading real estate developer has recorded revenues of 51.76 crore for the quarter ended September30, 2007. EBITDA was at 19.10 crore, an increase of 214.55% as compared to 8.90 crore in Q2 FY07.

Net profit stood at 11.99 crore, up by 213% from 5.61 crore. The diluted non annualized EPS at the end of the quarter was at 10.19.

Operating margins increased to 44% from 24% in the corresponding quarter last fiscal and net margins also saw an increase to 24% as compared to 12% in Q2 FY07.

Briefing on the company’s performance and future plans, Punit Beriwala, managing director, Vipul Ltd. said, “While we are strengthening our presence across various demographies and verticals in India, we will also be taking the company to the next level of maturity by getting into real estate development."

The company would be entering the hospitality sector at various locations across the country.

They have also recently entered into a long term exclusive MOU with IMDAAD (a 100% subsidiary of Dubai World), an organization which is in the business of lifecycle management of buildings and assets. The notification that they have received for their IT/ITES SEZ at Nagpur will give a further boost to their expansion plans.