Q3 2024 Ashiana Housing Ltd Earnings Call Transcript
Key Points
- PAT increased to INR27.8 crores in Q3 FY24 from INR27.35 crores in Q2 FY24, indicating improved profitability.
- Total comprehensive income improved to INR28.08 crores in Q3 FY24 from INR27.52 crores in Q2 FY24.
- Pretax operating cash flows for the 9 months of the current financial year were at INR212.27 crores, significantly higher than INR84.85 crores for the full year FY23.
- New project launches are planned in Q4 FY24, including Ashiana Nitara in Jaipur and Ashiana Amarah Phase 3 in Gurgaon, which are expected to boost sales.
- The company is actively looking to expand its senior living projects, with potential new projects in Bangalore and closer to Mumbai.
- Area booked for Q3 FY24 was significantly lower at 3.35 lakhs square feet compared to 5.92 lakhs square feet in Q2 FY24 and 9.03 lakhs square feet in Q3 FY23.
- Total revenue for Q3 FY24 was INR189.25 crores, a substantial decrease from INR351.02 crores in Q2 FY24.
- Limited inventory in key markets like Chennai and Gurugram affected sales performance in Q3 FY24.
- Some ongoing projects, such as Ashiana Anmol Phase 2 and 3, and Ashiana Malhar, remain low-margin, impacting overall profitability.
- The company faces challenges in land acquisition due to rising land prices, which could affect future project economics and growth.
Ladies and gentlemen, good day, and welcome to Ashiana Housing Limited Q3 FY24 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Binay Sarda. Thank you, and over to you, sir.
Thanks, Viren. Welcome, everyone, and thanks for joining this Q3 FY24 earnings call for Ashiana Housing Limited. The results and the investor presentation have been mailed to you, and it is also available on the stock exchange. In case if you have not received the same, please write to us, and we'll be happy to send it over to you.
To take us through the results for this quarter and answer your questions, we have today with us Mr. Varun Gupta, Whole-Time Director; and Mr. Vikash Dugar, CFO. We'll be starting the call with a brief overview of the company's performance of this quarter, and then we'll follow it up with a Q&A session.
I would like to remind you that everything said on this call that represents an outlook for the
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