Arkade Developers Q1 Results: Profit Jumps To Over Rs 30 Crore

Realty firm Arkade Developers Ltd., which got listed on the stock exchanges recently, has reported a more than four-fold jump in its consolidated net profit to Rs 30.21 crore for the first quarter of this fiscal year.

Its profit stood at Rs 6.57 crore in the year-ago period.

Total income doubled to Rs 125.51 crore during the April-June period of this fiscal from Rs 62.01 crore in the corresponding period of the preceding fiscal.

"The Indian real estate market, particularly the luxury housing segment, has witnessed strong demand driven by urbanisation and rising incomes," Amit Jain, Chairman and Managing Director of Arkade Developers, said.

Mumbai-based Arkade raised Rs 410 crore last month through its initial public offering.