Real estate developer Emaar MGF on Monday said it has posted a net loss of Rs 205.94 crore for the year ended March 31, 2011, mainly on account of selling its hospitality project in Kolkata at discount.
The company had posted a net profit of Rs 73.81 crore in the previous financial year, Emaar MGF said in a filing to the Bombay Stock Exchange(BSE).
The total income of the firm also declined by 1.25 per cent to Rs 1,053.70 crore in 2010-11 from Rs 1,067.07 crore in 2009-10, it added.
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