Ansal API, a leading real estate developer in India today announced Annual Audited Results for FY08. It recorded consolidated revenues of Rs 1,011.36 crore for the year ended March 31, 2008, an increase of 14.72% from Rs 881.56 crore in FY07.

EBIDTA stood at Rs 274.29 crore, an increase of 17.80% as compared to Rs 232.86 crore in the corresponding period last fiscal. Net profit was at Rs 173.51 crore, up by 31.32% from Rs 132.12 crore. The EPS for FY08 stood at Rs 15.29 as against Rs 12.18.Commenting on the Company’s performance, Mr. Sushil Ansal, Chairman, Ansal API, said, “Lately, there has been turmoil for the overall economy and real estate sector in particular. However, Ansal API has recorded a reasonable growth – owing to the strong fundamentals that drive the Company. We believe that the present state of economy is a temporary phenomenon and Ansal API is poised for sustained growth in years ahead”.

“We are extremely happy with the consistent growth of the Company throughout the year. This year saw approvals of various projects and FY 08-09 will witness commencement of execution of these projects. We have been selective in launching our projects and that has contributed to our sustained growth immensely while enhancing value for our customers”, he further added.

Ansal API has maintained a track record of redefining lifestyles in time with unswerving quality to its customers. The Company has over four decades built core competencies that has helped to maintain its prominent position in the market.

Growth Momentum

· The Company has got the licenses to develop Townships, Group Housing and Commercial projects on 255.25 acres approx of land in Haryana.

· The Company has entered into a JV with ILF&S – which will hold 49 % stake in these JV and balance will be with APIL – for two projects in Badshahpur (near Gurgaon)

o In Ansal SEZ Project Ltd for developing a SEZ. of over 10 Mn Sq feet of area

o In Ansal Township Infrastructure Ltd for developing an integrated township of over 1.5 Mn sq feet of area

· A Consortium of which the Company is a member has received the approval for Hi-Tech City at Dadri with a Project size of 2500 acres expandable to 5,000 acres.

· In June 2008, HDFC-AMC has made Investment in Ansal Hi-Tech Township Limited, presently a subsidiary of the Company for participation in the development and construction of Hi-Tech Township in NCR region. The investment was made in terms of the share holders agreement and debentures subscription agreement executed with HDFC AMC.

· It has also got the approval for two SEZs, one each for IT and Bio-Tech Parks, in Lucknow (UP).

· The Company has received a Letter of Intent for the development of First Integrated Industrial Township of Haryana at Pathredi, {Gurgaon} on around 100 acres of land approx.

· The Company signed a MoU with Mahesh Bhupati Tennis Academy to set up 16 tennis academies in townships developed by Ansal API across India.

· The Company has entered into a tripartite agreement with Educomp Infrastructure Pvt. Ltd, a subsidiary of Educomp Solutions Ltd. The Company would develop the school properties in the various residential townships and lease it out to the Educomp Infrastructure Pvt. Ltd. for operating and managing the schools. The fits into the overall vision of the company to provide quality lifestyle to all its customers.

· The Company has also diversified into the business of Bio Diesel and Wind Power.

· In addition to the above, the Company has announced its venture into hospitality sector by floating a new special purpose vehicle and investing around Rs 2,000 crore for the venture; it has received an approval for development of Residential Plots at Yamuna Nagar on a township which will be spread over 200 acres of land; has signed a MoU with Fortis Healthcare to set up a 52-acre Medicity in Ansal API’s upcoming township in Lucknow ; launched integrated township “Sushant Lok” Jodhpur on a land of over 111 acres approx with state-of-the-art infrastructure and facilities and it has also launched “Orchard County” a premium Group Housing at Mohali {Chandigarh}, with over 0.79 Mn sq feet of area.

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