Ansal Properties & Infrastructure Ltd. : Limited Reviewed Consolidated and Standalone First Quarter of FY2012

Ansal Properties & Infrastructure Limited

Press Release

August 11, 2011

Ansal Properties and Infrastructure Limited

Limited Reviewed Consolidated and Standalone

First Quarter of FY2012

Consolidated Performance Q1 FY2012 versus Q1 FY2011:

Revenue increased by 16.4%

EBITDA Margin stood at 18.3 %

Profit After Tax Margin stood at 7.26%

Total area sold during the quarter in excess of ~ 8.50 million sq ft, an increase in excess of ~ 148%

Average realisation stood at ~ Rs. 1,166 per sq ft for the sales during the quarter

NEW DELHI, India, August 11, 2011 –Ansal Properties and Infrastructure Limited (referred to as “Ansal API” or the “Company”, NSE: ANSALAPI, BSE: 500013), one of the oldest and leading real estate developers in India, announces its limited reviewed Consolidated and Standalone First Quarter for Fiscal 2012, in accordance with Indian GAAP..

Commenting on the results and performance, Mr. Pranav Ansal, Vice Chairman and Managing Director of Ansal Properties and Infrastructure Limited said:

[“During the Quarter, the company has registered a growth of ~16% in its consolidated revenues. However, there was a decrease in the profit which was primarily due to the impact of transfer of trunk infrastructure facilities in one of our premier Hi- tech townships to a wholly owned subsidiary of the company for the creation of long term income generation asset for the company. Going forward, it is a firm belief there will be significant improvement in our financial performance on account of steady sales booked during last 10-12 months at the improved realisations and the increased pace of construction and development in the ongoing projects.”]

Financial Highlights

	Standalone				Consolidated
(Rs. in Crores)	Quarter 1		y-o-y	Full Year	Quarter 1		y-o-y	Full Year
	FY 2012	FY 2011	Growth (%)	FY 2011	FY 2012	FY 2011	Growth (%)	FY 2011
Sales & Operating Income	278.15	220.38	26.2	1077.17	297.01	255.12	16.42	1257.13
EBITDA	78.10	79.25	(1.44)	199.92	54.48	74.30	(26.67)	242.11
EBITDA Margin (%)	28.08	35.96		18.56	18.34%	29.12%		19.26
Net Income	53.12	36.81	44.33	76.15	21.78	36.86	(40.91)	101.48
Net Income Margin (%)	18.83	16.46		6.97	7.26	13.51		7.88
Basic EPS (Rs)	3.37	2.96		5.40	1.38	3.12		7.22

.

Operational Highlights

·During the current quarter, the Company has transferred part of the Trunk Infrastructure Assets in one of the Integrated Hi-Tech Township projects in Uttar Pradesh, to a wholly owned Infra Subsidiary Company vide an agreement dated 15th June 2011 on the basis of fair valuation by a certified valuer. The obligation of further development, maintenance and charging for the same now lies with the subsidiary company and accordingly the appropriate share of the revenue attributable to such infrastructure will henceforth be accounted for by the subsidiary company. Resultant surplus of Rs. 41.72 crores on transfer of such Infrastructure Assets, being the difference between the book value and transfer value has been recognised during the period. Further, pursuant to AS-21 which deals with Consolidated Financial Statements, such surplus has been eliminated in the consolidated financial results owing to the gains remaining unrealised in this intra – group transaction.

·Total sales booked in Q1 FY2012 are in excess of ~8.5 million sq ft, aggregating to sale value of over Rs. 9.9 billion

·Total area sold till Q1 FY2012 ~98.16 million sq ft out of the current gross land reserves.

·~ 41.70 million sq ft has been delivered till Q1 FY 12 out of current area sold from GrossLand reserves.

·Achieved average price realization of Rs. ~1,166 per sq ft during Q1 FY2012

·Robust collections from current and previous sales accounted for an increase of more than 70% over the collections during the 1st Quarter of last financial year.

·During the quarter the Company has launched an area of ~8 million Sft across various asset classes out of which the Company has sold an area of ~3.2 million Sft which is also included in the overall sales of more than 8 million Sft sales during the quarter.

Strategic Outlook

The company will continue to focus on high growth markets in NCR as well as in other states of Northern India by expanding its existing townships to increase returns through economies of scale as well as entering into collaboration for new projects to conserve capital deployment in land aggregation to achieve better realizations. Further, the company intends to accelerate its cash flows by monetizing its assets from finished stock sales and non-core assets sales/slow moving investments to free up cash reserves and reduce the debt. In addition the company will continue to seek private equity participation to increase execution and further mitigate risk to existing shareholders

Company Background

Ansal is a leading real estate developer in India with over 40 years of experience in the real estate sector. The Company is engaged in the development of integrated townships and other large mixed-use and stand-alone developments in the residential, commercial and retail segments with a focus on large-scale mixed use developments, particularly in residential projects.

Ansals are primarily focused on mid housing segment of the residential property market, particularly in key cities in northern India. A majority of its projects are located in north India, particularly in the NCR and the States of Uttar Pradesh, Haryana, Rajasthan and Punjab.

The Company is currently developing on 19 townships with maximum saleable area being ‘residential segment’. It includes two mega hi-tech townships of SushantGolfCity, Lucknow (~ 3530 acres) and Megapolis Dadri, Greater Noida (~2,504 acres). Ansals is well positioned to get benefit from India’s increasing urbanization on the suburbs of north India.

Analyst / Investor / Media Queries

Dinesh Chander Gupta (analyst/investor) Ansal API

[e-mail] [phone]

Sanjay Sharma (Media) Ansal API

[e-mail] [phone]

For further information on Ansal visit www.ansalapi.com