Warehousing and commercial logistics space provider Transindia Real Estate has reported a significant decline in consolidated net profit for the quarter ended September 30 at Rs 7 crore.
The company had reported a PAT of Rs 79 crore in the corresponding period last year, on the back of an exceptional gain from divestment of BRE Asia Urban Holdings.Its revenues for the July-September period declined 5 per cent to Rs 26 crore as against Rs 27 crore a year-ago.
“Transindia is a leading developer of Grade A warehousing in India. After exiting a substantial portion of its completed warehousing portfolio last year, the company currently has a portfolio of completed assets which has potential to earn a rental income of about Rs 65 crore annually,” Jatin Chokshi, Managing Director, Transindia Real Estate said.
The company has recently invested the divestment proceeds to acquire new land parcels in Bangalore, Kolkata and Bhiwandi to develop new projects, for further growth. “The company is also exploring other assets such as residential and other real estate products,” Chokshi added.
Formerly a division of Allcargo Logistics, Transindia Real Estate is now an independent entity and is engaged into warehousing, state-of-the-art logistics parks, commercial logistics facilities like container freight stations and inland container depots and have a network to operate in 180 countries.
