Ishaan Real Estate Plc. swung to full-year pretax loss because of the cost of investment advisory fees and provision for promote fees to be paid to the investment adviser.
However, it said it remains confident of continuing with the improvement made on assets development and also the pre-letting of the projects already initiated within its portfolio.
For the year to end-March, 2008, the India-focused real estate investment company informed a pretax loss of 1.83 million pounds against a profit of 1.73 million previous year.
The company’s net asset value (NAV) declined to 95.5 pence per share from 96.3 pence per share, however its adjusted NAV rose to 151.1 pence per share from 107.9 pence per share previous year.