DB Realty net profit up 19 pct

DB Realty 8212; whose promoters Shahid Balwa and Vinod Goenka have been arrested by the CBI in relation to the 2G telecom scam and are currently lodged in Delhi8217;s Tihar Jail sold 3.7 million square feet of area worth Rs 3,065 crore during the last fiscal.

The company8217;s debt stood at Rs 465.6 crore as of March 31,2011.

8220;In spite of the sluggish market conditions,DB Realty8217;s financial performance over the last year has been encouraging.

We have still managed to make progress on our key business parameters while dealing with the rising input costs,8221; DB Realty Group Director Business Strategy and Finance N Shridhar said.

The board of the company has been reconstituted to make it more focused,the statement said.

K M Goenka is the Chairman of the board the other members include Usman Balwa,Vinod Goenka,Mahesh Gandhi,Jagat Killawala,N M Rafique and Janak Desai.

DB Realty currently has over 83.5 million square feet of developable area,out of which 33.5 million square feet is dedicated to ongoing projects.