The Jaypee group has closed the quarter with Rs 211686 lakh of total income for the quarter ended June 30, 2009. Net profit for the period
was Rs 49118 lakh. The company has as usual beaten expectations. It is expected it will do better in times to come.
There was a time when your dream house was being offered with a free Mercedes car or a gleaming beamer, or even a few 22 carat gold coins as freebies. In some cases, even a small spare as a wee bit apartment was being thrown into the deal for customers looking at premium bungalows located in the lap of nature.
The real estate sector was totally unprepared when the slowdown hit them as every single participant of this industry was supremely confident of it growing all the time and that too more than 200 per cent every month. A few newspapers such as FINANCIAL TIMES had predicted that the real estate industry is likely to crash but nobody was listening.
More : economictimes.indiatimes.com
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