The company reported a net profit of ₹48 crore in the quarter ended September from a loss of ₹1,536 crore a year earlier after adjusting for the one-time refund of ₹64 crore to investors of the Indiareit PMS as per the Delhi High Court order.
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This strength is underpinned by robust domestic demand, a sustained capex cycle, and relatively limited exposure to global shocks compared to developed markets.