Commenting on the result, N Shridhar, Grooup Director (business & Strategy), DB relaty said, "Rising interest rates and input cost coupled with delayed approvals have resulted in slowdownin the sector."
He further added, "AT DB Relaty we see a slodown in saled coupled with an increase in input costs in the last 6 months. However we have regustered a stable quarter in terms of profitability bt making progress in our key projetcs and parameters also the sale of some non-core assets has contributed to the increase in profit for the quarter."
Shridhar also said that the company has managed to reduce the debt burden in this quarter and hence, the bank debt stands as at the end of the quarter at Rs 2,42.5 crore and with a debt equity ratio of 0.07.
The interesting part of the announcement was that in order to diversify DB Realty will now be investing in DB Hospitality which runs the hetels in Mumbai, GOa and Ahmedabad.