IL&FS Investment Managers Ltd (IL&FS PE) invested Rs 214 crore ($40 million) across companies in the real estate vertical and clocked partial exits worth Rs 102 crore ($19 million) in the realty space in the quarter ended September 30, 2012.

In the previous quarter ended June 30, the firm invested nearly Rs 247 crore in the infrastructure and real estate sectors and recorded exits/part-exits worth Rs 650 crore during the same period. As the firm had not shared a sectoral breakdown of its exits in the first quarter, it is not comparable on a one-on-one basis.

The public-listed fund manager to India’s largest homegrown private equity fund house clocked income from operations of Rs 54.4 crore flat, compared to the sequential quarter ended June 30, 2012, but rose 4 per cent over the second quarter of the last financial year. Consolidated net profit at Rs 17.3 crore was down around 5 per cent, both sequentially and compared to Q2 FY12.

Archana Hingorani, CEO of IL&FS PE, said, “While the challenges in the markets continue, sentiment has improved towards the end of the quarter due to positive policy announcements. In the light of these difficult conditions, the company has delivered a largely stable performance.

“While long-term fundamentals are intact, specific focus on near-term macro-economic factors is imperative for jumpstarting the economy. In the interim, the company continues to focus on selectively investing in attractive opportunities, creating exits and working with investee companies to improve performance,” she added.

(Edited by Sanghamitra Mandal)

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