Track2Realty: Poddar Developers Ltd has released outstanding Unaudited Financial Results for the Quarter ended June 30, 2014. Net profit of Poddar Developers rose to Rs 10.20 crore in the quarter ended June 2014 as against Rs 2.94 crore during the previous quarter ended June 2013.
Sales rose to Rs 51.32 crores in the quarter ended June 2014 as against Rs 21.86 crore during the previous corresponding quarter ended June 2013.
Rohit Poddar, Managing Director, Poddar Developers, said, “We have posted a robust revenue growth based on the fact that this sector has a strong demand for affordable housing. Our existing portfolio is dominated by white and blue collar workers who have had a lifelong ambition of owing their own home in Mumbai but have been unable to do so due to the high prices, lack of transparency and lack of options for a good quality life at highly affordable prices. That said, we strongly believe that the affordable housing segment will see a favorable growth in the years to come.”
Poddar Developers has given 42.25% returns over the last 6 months and 36.14% over the last 12 months. Currently, the company has projects that are underway in Kalyan, Badlapur, Karjat and Shahapur.
