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Stock Report
D B Realty Limited announces Q3FY22 results
Posted On : 2022-02-14 17:03:46( TIMEZONE : IST )
D B Realty Limited reported a loss of Rs. 23.99 Cr on standalone basis for the third quarter ended December 2021. It has reduced its losses from Rs. 244,64 Cr to Rs. 23.99 Cr quarter on quarter basis on standalone basis and from Rs. 352.10 Cr to Rs. 36.34 Cr on consolidated basis.
The Company has taken a one time cost in its books during the quarter ending December 2021 in relation to its project alt Kalanagar and Worli which is not envisaged to be incurred on a regular basis. It has also passed the entire accumulated losses in one of its partnership firm through the Profit & loss account, where it intends to exit from the project and is writing off its investment loss in the exited project. The loss in the quarter is not indicative of the operational performance but is on account of one time exceptional provisioning of the above exceptional items.
The Company reaffirms its aim to be balance sheet light and debt free in near term. The robust off take in the current quarter and Pipellne of several projects planned to be launched in the current quarter and the coming quarters is inicative of a strong performance going forward.
The Company has recommented construction on the X BKC project (1.40 million sq feet) undertaken in collaboration with Adani Realty.
The company also intends to soon launch the Liberty Tower (2.80 million sq feet) and BKC 101 (2.70 million sq feet) in this quarter in collaboration with Prestige Estates Projects Ltd.
The Company has also been exploring options for entering into joint ventures / partnership with various real estate developers for its different projects.
Shares of D B Realty Limited was last trading in BSE at Rs. 122.20 as compared to the previous close of Rs. 128.60. The total number of shares traded during the day was 264741 in over 3227 trades.
The stock hit an intraday high of Rs. 133.85 and intraday low of 122.20. The net turnover during the day was Rs. 33598932.00.
