Real estate and specialty packaging films firm Max Ventures and Industries Limited (MaxVIL) has reported a ₹ 9.15 crore consolidated net profit for the second quarter of the financial year 2019-2020. The company had incurred a loss of ₹ 4.60 crore in the corresponding quarter of previous fiscal.
The total income of the company stood at ₹ 437.45 crore for the quarter . During the same quarter of last fiscal, the company had registered a total income of ₹ 273.22 crore.
"We have taken significant steps in the Real Estate vertical with a land parcel acquisition in Sector 129 in Noida. The investments for the next phase of real estate growth will be funded through a frugal capital model, which deploys internal accruals along with the platform level investments from global institutional funders," said Sahil Vachani, MD and CEO of MaxVIL.