Satra Properties (India) Limited
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BSE Code:
508996
NSE Code:
SATRAPROP
Business Profile
Business Profile
Satra Properties India (SATRAPROP) is primarily engaged in the development of commercial, retail, hotel and residential properties. It was incorporated on May 30, 1983 and got its present name on Jul. 21, 2005.
The ISO 9001:2000 certified real estate development company operates directly or through a subsidiary or project specific companies while executing projects. It undertakes development projects through joint development agreements with third parties and is involved in the purchase and sale of transfer of development rights (TDRs), which are freely transferable between developers. As on Mar. 31, 2007, it held land reserves of approximately 4.1 million sq. ft., which included five residential projects of 1.4 million sq. ft., seven shopping malls of 1.3 million sq. ft., four commercial offices of 1.1 million sq. ft., and two hotel projects of 0.3 million sq. ft.
Some of the major ongoing projects include malls like Dreams The Mall at Borivali, Malad and Bhandup in Mumbai, Dreams The Mall and Satra Galleria Hotel at Calicut in Kerala, Prime Mall Downtown at Hughes Road in South Mumbai, the proposed 5-star hotel Satra Galleria in Cochin; commercial projects like the Satra Central Square BKC, Satra Athena, and Satra Corporate Park in Mumbai and the Satra Corporate office complex in Vashi; and residential projects like Satra Residency, Satra City, Juhu Residency and Satra Sky Heights in Mumbai. With plans to raise over Rs 7,000 million in 2008 , the company is confident of substantial growth
The registered office is located at Dev Plaza, 2nd Floor, S.V. Road, Andheri (W), Mumbai-400058.
Financials
On a standalone basis, Satra Properties India registered a 768.7% growth in net profit to Rs 167.92 million for the quarter ended December 2007 from a profit of Rs 19.33 million for the quarter ended December 2006.
Net sales increased 3.63 times to Rs 571.63 million for the quarter ended December 2007 from Rs 157.68 million for the quarter ended December 2006.
Total income rose 4.05 times to Rs 638.01 million for the quarter ended December 2007 from Rs 157.68 million for the quarter ended December 2006.
The earnings per share (EPS) of the company stood at Rs 1.08 for the quarter ended December 2007.
On a consolidated basis, the company registered a profit of Rs 179.21 million for the quarter ended December 2007.
It recorded a net sales of Rs 654.26 million for the quarter.
Total income was Rs 726.04 million for the quarter ended December 2007.
The earnings per share of the company stood at Rs 1.15 for the quarter ended December 2007.
Recent Developments
21-JAN-08
The shareholders authorized the board to create, offer and issue securities in the domestic and/or international markets for an aggregate amount of upto Rs 7,000 million and to invest in the equity or subsidiaries of Sharvan Developers including making loans upto a sum not exceeding Rs 500 million, subject to necessary provisions and approvals.
04-JUL-07
Satra Properties acquired 100% stake in Satra Property Developers (SPDPL), a company in the business of real estate & developers having paid up capital of Rs 146 million and reserves & surplus of Rs 235 million as on Mar. 31, 2007.
Future Plans
The company is planning to open a branch office preferably in the United Arab Emirates or at any other place abroad to explore the business avenues with very wide global horizons.