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Home STOCKS Emami Realty Q4 final results: Posts Rs 19 crore web loss

Emami Realty Q4 final results: Posts Rs 19 crore web loss

New Delhi: Emami Realty’s consolidated internet loss in March quarter widened to Rs 19.14 crore as in comparison to the calendar year-in the past time period, the company reported in a regulatory filing.
It also announced elevation of Nitesh Kumar Gupta as MD & CEO of the business.
The firm’s internet loss stood at Rs 1.52 crore crore in January-March 2018-19, the filing said.
Full revenue rose to Rs 154.41 crore in the quarter less than evaluate as against Rs 84.40 crore in the yr-ago interval.
For 2019-20, the realty agency posted a net loss of Rs 114.44 crore. In the previous fiscal calendar year, it clocked a net profit of Rs 49 lakh.
Total revenue rose to Rs 1,082.54 crore in 2019-20 from Rs 196.67 crore in the prior fiscal.
The firm’s board in a conference held on Tuesday also authorised the elevation of Nitesh Kumar Gupta to the position of Managing Director and CEO.
Gupta, who became the CEO of the business a couple of years back, has an experience of almost 30 several years, generally in the serious estate sector.
The board also authorised the appointment of Rajendra Agarwal as the Chief Monetary Officer.
Emami Realty lately declared that it would invest virtually Rs 225 crore to create a 100-acre built-in township at Jhansi in Uttar Pradesh.
The organization will develop the township ‘Emami Nature’ in two phases. The very first period comprising 54 acres has been released.
The township will have a full crafted-up space of 48.66 lakh sq ft, of which 27 lakh sq ft will be aspect of the first stage.
Emami Team has so far delivered far more than 24 prestigious residential and industrial projects, comprising 36 million sq ft spot, primarily in Kolkata.
At existing, it is building projects generally in Kolkata, Mumbai, Coimbatore and Chennai.

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