Bombay Dyeing’s consolidated sales for the quarter ended 31st March, 2024 stands at Rs. 381 crs. and net profit stands at Rs. 66 crs. For the year ended 31st March, 2024 consolidated revenue stands at Rs. 1,688 crs. and net profit at Rs. 2,949 crs., including profit on sale of WIC land in Phase-I.
The Board of Directors at its meeting held on 6th May, 2024 recommended the final dividend of 60% i.e. Rs. 1.20 per share of Face Value of Rs. 2/- each.
The Company completed the first phase of its land sale to Goisu Realty Private Limited (a subsidiary of Sumitomo Realty & Development Company Limited) for Rs. 4,685 crs. and thereby extinguished all its debt obligations during the FY 2023-24. Phase-II of the sales transaction will be completed in the current financial year. The Company is now debt free and has a substantial treasury.
As per the strategy announced by the Company in September, 2023, the Company is actively pursuing the development of Phase 3 at ICC for approximately 1.2 million square feet out of a total developable area of approximately 3.5 million square feet. After the 3rd phase makes reasonable progress, the Company will continue to develop the balance developable area. The Company will also explore and evaluate other joint development opportunities in the realm of Real Estate.
