Real estate major Ackruti City Limited today announced 12.8 per cent decline in consolidated net profit at Rs 67.80 crore in the third quarter this fiscal as compared to Rs 77.77 crore in the same period last year. For Q3 FY 11,the consolidated revenue at Rs 214.08 crore showed a marginal decline of 2.4 per cent over Q3 of the previous year,a company statement said here. However,consolidated revenue for nine months grew by 64 per cent at Rs 555.37 crore over the corresponding period in the previous year. Consolidated net profit for nine months at Rs 165.5 crore reported a jump of 41 per cent over the same period during the previous year. So far this financial year has been quite satisfactory. We have achieved 93 per cent of the last financial years revenue in the first nine months itself, Ackruti City Managing Director Vimal Shah said. We hope to maintain the growth momentum. The work at all of our ongoing projects is progressing well and in coming months we intend to launch a couple of luxury segment projects in South Mumbai. Overall,we expect FY11 to be quite rewarding,Shah said. The company is also considering venturing into Ahmadabad,Surat and Vadodara in Gujarat for residential as well as commercial property development,Shah said.
