+
Arkade Developers reports 9.38% drop in Q2 FY25 net profit
ECONOMY & POLICY

Arkade Developers reports 9.38% drop in Q2 FY25 net profit

Arkade Developers reported a 9.38% decline in net consolidated profit for the quarter ending September 30, 2024. Profit after tax stood at Rs 433.6 million in Q2 FY25, compared to Rs 478.5 million during the same period last year, according to the company’s filing with the BSE.

The company’s net consolidated total income also saw a 3.66% dip, reaching Ra 2.03 billion in Q2 FY25, down from Rs 2.11 billion in the corresponding quarter of FY24.

Promoter and CMD Amit Mangilal Jain stated, "We’ve lined up strategic launches for the next two quarters to maintain momentum. Our expansion into Eastern Mumbai suburbs and a robust pipeline of redevelopment projects will drive growth, supported by a strong balance sheet and healthy cash flows."

The board also approved the appointment of Sumesh Mishra as an additional director. In operational highlights, the company reported pre-sales of Rs 2.15 billion and collections of Rs 1.8 billion during the quarter.

(ET)

Arkade Developers reported a 9.38% decline in net consolidated profit for the quarter ending September 30, 2024. Profit after tax stood at Rs 433.6 million in Q2 FY25, compared to Rs 478.5 million during the same period last year, according to the company’s filing with the BSE. The company’s net consolidated total income also saw a 3.66% dip, reaching Ra 2.03 billion in Q2 FY25, down from Rs 2.11 billion in the corresponding quarter of FY24. Promoter and CMD Amit Mangilal Jain stated, We’ve lined up strategic launches for the next two quarters to maintain momentum. Our expansion into Eastern Mumbai suburbs and a robust pipeline of redevelopment projects will drive growth, supported by a strong balance sheet and healthy cash flows. The board also approved the appointment of Sumesh Mishra as an additional director. In operational highlights, the company reported pre-sales of Rs 2.15 billion and collections of Rs 1.8 billion during the quarter. (ET)

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?