Ahmedabad, August 12, 2016:
Arvind Infrastructure Limited, one of the emerging real estate players in the Real Estate Development space has recorded an increase in the consolidated revenue which stands at Rs. 22.48 crores for the quarter ended 30th June, 2016, as against Rs. 10.27 crores in the corresponding quarter of the previous year. Consolidated EBIDTA is at Rs. 7.57 crores as compared to Rs. 2.62 crores in the corresponding quarter of the previous year. The Company has posted a consolidated net profit of Rs. 3.02 crores for the quarter ended 30th June, 2016 as compared to Rs. 0.22 crores in the corresponding quarter of the previous year.
Commenting on the results as well as outlook of the Company, Mr. Kamal Singal, Managing Director & CEO said, “The performance of the Company for the first quarter of the year is in line with our expectation keeping in mind the continued challenges being faced by real estate industry mainly because of dull market conditions. We expect that the short term outlook for the industry to remain subdued and the performance of the Company in the coming quarters will be on the same lines.”