A real estate developer has reported a net consolidated profit after tax of ?43.10 crore for the quarter ended March 31, 2025. The profit in the corresponding quarter of the previous financial year was ?235.90 crore, according to a stock exchange filing.

The developer’s net consolidated total income stood at ?1,589.30 crore in Q4 FY25, marking a 28.81% decline from ?2,232.50 crore recorded in the same period last year.

The board of directors has recommended a final dividend of 18% (?1.8 per share) on the equity shares for the financial year ending March 31, 2025. It has also approved the issuance of non-convertible debentures amounting to up to ?2,000 crore on a private placement basis.

As of March 31, 2025, the developer’s net debt stood at ?6,716.50 crore, with a debt-to-equity ratio of 0.42 and an average cost of debt of 10.32%.

The company has entered into a framework agreement with partners for jointly developing a commercial project on land measuring 21,978.22 sq meters in Mumbai, through the creation of a special purpose vehicle (SPV).

In addition, the firm has launched a plotted development project in Bengaluru, spread over 47 acres. The project includes 516 plots, with a total development area exceeding one million sq ft and a revenue potential of over ?800 crore.

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