Modern India Ltd., a conglomerate with a focus on real estate sector announced excellent results for the quarter ended December 31st, 2007. During the period, income from operations was Rs. 41.98 crores, a 150 % growth from Rs.16.82 crores for the same period last fiscal. The PAT of the company is Rs.1.78 crores, up from Rs.1.02 crores for the corresponding period in FY 2007, a rise of over 74.5 %.

For the nine month period ended December 31st 2007, Modern India clocked a 82% growth to Rs.98.68 crores from Rs.54.11 crores for the same span last year.

Earnings per share for the three quarters of FY 2007-08 stands at Rs.5.34 per share against Rs.5.70 per share for the full financial year 2006-07.

The company’s subsidiary, Modern India Property Developers Ltd. received formal approval to set up an electronic hardware and software IT and ITES unit at the Khopali SEZ in Raigad district, Maharashtra.

Modern India has also received necessary approval from the state government for development of Mill land near Mahalaxmi station and at Elphinston Road, Mumbai as per DC regulations. Plans are being firmed up to develop about 258,000 sqft. of commercial space at these locations.

Sourced From: Concept Public Relations India Pvt. Ltd

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