Realty company Ashiana Housing announced Q1FY25 results: Financial Highlights: Sales and Other income was recorded at Rs 128.51 crore in Q1FY25 vis a vis Rs 296.96 crore in Q4FY24 PAT is reported at negative Rs 5.45 crore in Q1FY25 from Rs 17.38 crore in Q4FY24 Pre – Tax Operating Cashflow recorded at Rs 74.92 crore in Q1FY25 vs Rs 92.20 crore in Q4FY24 Business Highlights: Value of Area Booked recorded at 235.32 crore (Q1FY25) vs Rs 862.54 crore (Q4FY24). We had sold 3.77 lakh sq ft (value of Area booked Rs 440.44 crore) in ‘Ashiana Amarah Phase 3’ in Q4FY24. There was no stock to sell in Gurugram in Q1FY25. Area constructed at 4.91 lakhs square feet in Q1FY25 vs at 6.97 lakhs square feet in Q4FY24. Total Revenue reported at Rs 128.51 crore (Q1FY25) vis a vis Rs 296.96 crore (Q4FY24) PAT for Q1FY25 at negative Rs 5.45 crore vs positive Rs 10.87 crore in Q1FY24. Loss attributable to revenue booking in lower margin project (Ashiana Shubham Ph 4A, Chennai) and one off costs in Q1FY25 like one time incentive to staff (Rs. 2.71 crore) and interest paid to Shubham customers for delayed delivery (Rs.0. 92 crore). Other income in Q1FY24 also included profit on sale of School at Bhiwadi, Rs 4.23 crore. We anticipate reporting of losses in Q2 FY25 due to lower deliveries. However, H2 expected to be healthy in deliveries leading to reported profits for full year FY25. We continue to maintain our guidance of Rs 2,000 crore of pre sales for FY25. Pre – Tax Operating Cashflow recorded at Rs 74.92 crore in Q1FY25 vs Rs 92.20 crore in Q4FY24 Second Phase of Ashiana Advik in Senior Living category launched in Bhiwadi, and third phase of Ashiana Ekansh (Jaipur) in premium homes segment launched in Jaipur. Handover commenced in Shubham (Phase 4) in Chennai. Completion Certificate (CC) for Phase-4 Ashiana Utsav, Lavasa received on 4th July 24, it is yet to be launched for sales. Credit Rating for bank Facilities reaffirmed by ICRA as [ICRA] A (Stable). Result PDF
Conference Call with Ashiana Housing Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.