Arihant Superstructures' net profit falls drastically in Q4 FY2
Real Estate

Arihant Superstructures' net profit falls drastically in Q4 FY2

Arihant Superstructures reported a 97.67% decrease in net consolidated profit for the quarter ending March 31, 2023. Its profit after tax was Rs 23.47 lakh in Q4 FY23, compared to Rs 98.7 billion in the previous fiscal's corresponding period, according to a BSE filing.

The company's net consolidated total income was Rs 665 billion in Q4 FY23, a 7.32 percent decrease from Rs 712.7 billion in the same period prior year.

In a separate regulatory filing, the business stated that Virendra Mital will step down as an independent director on May 22, 2023, after completing his second five-year term.

The board of directors authorized the appointment of Dhhaj Jopat as the company's chief financial officer, effective May 22, 2023.

The board also recommended a final dividend of Rs 10 per equity share for the fiscal year 2022-2023, according to the regulatory filing.

See also:
Arihant Superstructures to invest Rs 4 billion in its new project in Mumbai
This firm's ticket sizes range from Rs 2.8 million to Rs 31.5 million


Arihant Superstructures reported a 97.67% decrease in net consolidated profit for the quarter ending March 31, 2023. Its profit after tax was Rs 23.47 lakh in Q4 FY23, compared to Rs 98.7 billion in the previous fiscal's corresponding period, according to a BSE filing. The company's net consolidated total income was Rs 665 billion in Q4 FY23, a 7.32 percent decrease from Rs 712.7 billion in the same period prior year. In a separate regulatory filing, the business stated that Virendra Mital will step down as an independent director on May 22, 2023, after completing his second five-year term. The board of directors authorized the appointment of Dhhaj Jopat as the company's chief financial officer, effective May 22, 2023. The board also recommended a final dividend of Rs 10 per equity share for the fiscal year 2022-2023, according to the regulatory filing. See also: Arihant Superstructures to invest Rs 4 billion in its new project in Mumbai This firm's ticket sizes range from Rs 2.8 million to Rs 31.5 million

Next Story
Real Estate

Brookfield India REIT to Acquire Bharti's Stake in Realty JV

Brookfield India Real Estate Trust (BIRET) is set to acquire nearly 50% stake in a real estate joint venture with Bharti Enterprises. This joint venture, Rostrum Realty Private Limited, includes properties across Delhi-NCR. The transaction is valued at approximately ?6,000 crores. Last year, Brookfield Asset Management already acquired a similar stake in four Bharti commercial properties.

With this acquisition, Brookfield?s REIT in India and Brookfield Asset Management will collectively control Rostrum Realty. This move is part of Brookfield's strategy to expand its real estate portfoli..

Next Story
Real Estate

DLF Ventures into Mumbai, Goa with Luxury Homes This Year

DLF, India's leading real estate developer, is set to enter the luxury housing markets of Mumbai and Goa by the end of this financial year. The company plans to introduce high-end residential projects, marking its first significant ventures in these regions.

In Mumbai, DLF will launch a premium condominium project in Andheri, featuring luxury apartments priced between ?6 crore and ?8 crore. This development signifies DLF's re-entry into Mumbai's real estate market after a long hiatus. The project aims to cater to the burgeoning demand for luxury homes in India's financial capital.

..

Next Story
Real Estate

SC: Unconstitutional to Acquire Property Without Procedure

The Supreme Court has ruled that the acquisition of private property is unconstitutional if proper procedures are not followed. This landmark decision underscores the importance of adhering to legal protocols and due process in property acquisition cases across India.

According to the court's verdict, any acquisition of private property must strictly adhere to the procedural requirements outlined under law. This includes providing adequate notice to property owners, conducting fair hearings, and ensuring just compensation as per statutory provisions.

The ruling comes in response ..

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram