Garnet Construction FY07 Net Profit leaps 11 times

Mumbai, Apr 25 (UNI) Garnet construction Ltd, a decade old professionally managed real estate company developer, registered a huge jump in its Net profit, which shot up almost 11 times to Rs 6.64 crore for year-ended march 2007 as compared to the previous fiscal.

Net Sales also shot up 4.81 times to 34.92 crore, a press release stated.

For the fourth quarter that ended March 31 2007 (Q4FY07), the company posted a Net Profit of Rs I.25 crore (up 57.21 per cent as compared to Rs. 0.79 crore in the corresponding quarter during the previous fiscal, Director Garnet Construction Ltd, Mr Arun kumar Kedia said.

''Our focus on profitable projects targeting Non-Resident Indians through aggressive global marketing helped the company to post a healthy growth in sales and profits during FY07.'' ''Through our exclusive global marketing and developemnt alliance with the Dubai based Sternon Group, we intend to furthur increase our reach in international markets to boost the company's growth in FY08.'' added Mr Kedia.

UNI