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Wednesday, 5 November 2014

DAMAD 420 Vadra Grows Wealth 10 Times in 3 years ..... Know How !!!!!

In 3 years Vadra Company Wealth Grows 10 Times….

The real estate Company of Robert Vadra firm Sky Light Realty grows nearly 10 times in three years since it previously filed the balance sheet.

According to the balance sheet for financial year ending March 2014, filed last month, Sky Light Realty reported stock in trade of  Rs 214.8 million, up from Rs 25.5 million in financial year 2011.

  Aam Aadmi Party leader Arvind Kejriwal listed its investments in several apartments of luxury projects of realty major DLF. That’s why Sky Light Realty had become famous a couple of years.  Kejriwal had alleged that the firm held
luxury apartments in DLF luxury projects such as DLF Magnolias, DLF Aralias andCountry Greens.

While nine apartments in these projects had a book value of around Rs 110 million, Kejriwal had alleged their market value was several times over.

However, the filings showed this potential market value had not really translated into income for the company so far. Operationally, financial year 2011, remained the best year for the company.

That year, profits from operations boosted reserves from Rs 24 million to Rs 120 million.
Growth in income on company to Rs 165.4 million, up from Rs 46 million was a major contributor.

Though the company did not file the financial year 12 balance sheet, the previous year’s figures, given in the financial year 13 balance sheet filed on October 16 this year showed the firm reported a loss of Rs 46.5 million.
It is managed to get back in the black by reporting a profit of Rs 58 lakh  after tax after disposing of a land section in Bikaner in Financial year 13.

The company also exited its Palwal land parcel, which was valued in the books at Rs 4.22 million IN financial year 14. This transaction again did not seem very profitable, as the firm reported a loss of Rs 3.38 million for the year.
This destroy the reserves of the company which as per the latest balance sheet stood at Rs 74 million.

An e-mail sent to Vadra's office on Monday did not elicit any response.

Apart from these, the company also seems to have exited investments apartments in DLF luxury projects such as Aralias and Magnolias.

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