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Ashiana Housing Results: Latest Quarterly Results & Analysis

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Ashiana Housing Ltd. 12 Feb 2025 12:29 PM
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Q3FY25 Quarterly Result Announced for Ashiana Housing Ltd.

Realty company Ashiana Housing announced Q3FY25 results

  • Total Revenue reported at Rs 139.93 crore (Q3FY25) vs Rs 59.53 crore (Q2FY25). Increase by 135% driven by higher deliveries in Q3FY25.
  • PAT for Q3FY25 at positive Rs 10.89 crore vs negative Rs 7.55 crore in Q2FY25. Profit attributable to higher deliveries in Q3FY25 . PAT had a one-time impact of Rs 5 crore payout wrt. GST matter of Treehouse Hotel (shown as an exceptional line item in P&L).
  • Pre-Tax operating cash flow achieved at Rs 120.42 crore in Q3FY25. Cash flows continue to be healthy due tohigher collections driven by better sales across projects, in general.
  • Value of Area Booked recorded at Rs 454.16 crore (Q3FY25) vs Rs 173.89 crore (Q3FY24) and Rs 672.54 crore in Q2FY25. Area Booked in Q2FY25 was higher due to launch of Ashiana AmarahPhase 4 in Gurugram. Q3FY25 had good bookings across projects.
  • Average realization price of Q3FY25 at Rs 6,705 vs Rs 5,189 in Q3FY24. The same was Rs 9,223 in Q2FY25, higher realization was mainly driven by bookings in Ashiana Amarah Phase 4.
  • Equivalent area constructed (EAC) at 5.19 lakh square feet in Q3FY25 vs 4.77 lakh square feet in Q3FY24. EACwas 6.01 lakh square feet in Q2FY25, QoQ decline by 13.64% due to imposition of GRAP related restrictions in Delhi-NCR.
  • We continue to maintain our guidance of Rs 2,000 crore of Pre Sales for FY25. However, this will depend on the velocity of bookings in the launch of Ashiana Amarah Phase 5 in Q4FY25.
  • Third senior living project launched in Chennai by the name ‘Ashiana Swarang’ located in Nemmeli. Apart fromthat Ashiana Ekansh (Phase 4) in Jaipur and Ashiana Amodh (Phase 2) in Pune were launched in the quarter.
  • Handover started for Tarang Phase 4A in Bhiwadi and Umang Phase 6 in Jaipur.

Result PDF

Result PDF

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

Realty firm Ashiana Housing announced Q1FY23 Result :

  • Villas launched in Tarang, Bhiwadi and Shops launched in Amantaran, Jaipur.
  • Value of Area Booked recorded at INR 152.14 Crores (Q1FY23) vs INR 185.57 Crores (Q4FY22).
  • Average realization went up to Rs 4557 per sq. ft. in Q1FY23 as compared to 4093 Rs per sq. ft. in Q4FY22.
  • Area constructed was at 3.85 lakhs sq ft in Q1FY23 vs 5.07 lakh Sq. ft. (Q4FY22) and 2.89 lakh Sq. ft. (Q1FY22).
  • Pre-tax operating cash flows was positive at INR 27.72 Crores (Q1FY23) vs positive at INR 27.48 Crores (Q4FY22)
  • Total Revenue increased to INR 81.22 Crs (Q1FY23) vs INR 78.28 Crs in Q4FY22 due to higher deliveries in AHL (1.68 lsft vs 1.14 lsft). TCI also improved to positive INR 10.29 Crs (Q1FY23) vs positive INR 9.22 Crs (Q4FY22).
  • New land parcel acquired in Jaipur, Bhankrota of 8.08 acres in Q1FY23. Total potential saleable area in this parcel will bearound 6.5 Lakhs sq ft.
  • Delay in deliveries by a quarter (vis a vis expected customer handover date) expected in 8 projects: Nirmay Phase4,Tarang Phase 3, Anmol Phase2, Ashiana Amantaran Phase 1 and 2, Ashiana Daksh Phase 1 and 2, Umang Phase 5
  • Aditya Phase 1 will be delivered a quarter earlier than expected customer handover date

 

 

Result PDF

Ashiana Housing announced Q4FY22 results:

  • Value of Area Booked increased to Rs 573.25 Crores (FY22) vs Rs 534.68 Crores (FY21).
  • Sales Price improved to Rs 3,883 psf (FY22) vs 3,571 psf (FY21) driven by increasing prices across projects and changing mix towards higher priced projects
  • Area constructed higher at 16.20 Lakhs Sq. ft. (FY22) vs 11.66 Lakhs Sq. ft. (FY21).
  • Pre-tax operating cash flows was positive at Rs 165.05 Crores (FY22) vs positive at Rs 171.65 Crores (FY21)
  • Total Revenue declined to Rs 233.59 Crs (FY22) vs Rs 259.31 Crs due to lower deliveries. TCI also declined to negative Rs 6.56 Crs (FY22) vs positive Rs. 4.08 Crs (FY21). There was an additional impact of provision of Rs 4.26 Crs for the misappropriation of funds incident discovered during the year.
  • Credit Rating of the company was reaffirmed at “A Stable” by ICRA and CARE for FY21-22.
  • New land parcels acquired in the current year in Gurgaon 22.1 acres, Pune 11.93 acres, Jaipur 8.6 acres, Jamshedpur 3.96 acres and two land parcels in Chennai of 15.64 acres and 9.93 acres. Total potential saleable area in these newparcels will be around 61 Lakhs sq ft.
  • Delay in deliveries by a quarter (vis a vis expected customer handover date) expected in 7 projects: Ashiana ShubhamPhase 3 and 4, Ashiana Daksh Phase 1 and 2, Sehar Phase 1 and Aditya Phase 1 and 2
  • Amantaran Phase 3 was launched in Jaipur.
  • Value of Area Booked improved to Rs 185.57 Crores (Q4FY22) vs. Rs 169.76 Crores (Q3FY22) due to increase in area bookings and also improvement in sales price.
  • Area constructed was at 5.07 lakh Sq. ft. (Q4FY22) vs 3.73 lakh Sq. ft. (Q3FY22).
  • Total Revenue increased to Rs 78.28 crore (Q4 FY22) vs 54.19 crore (Q3FY22) Crs due to higher deliveries. TCI also improved to positive Rs 9.22 crore (Q4 FY22) vs negative Rs 3.28 crore (Q3FY22)

 

 

Result PDF

Realty firm Ashiana Housing declares Q3FY22 result:

  • Booking lower at 4.21 Lakhs Sq. ft.(Q3FY22) vs. 4.51 lakh Sq. ft (Q2FY22). In Q3, healthy bookings from Anmol Ph 2, Gurgaon (launched in Q3) and Shubham Ph 4, Chennai. The bookings in Q2 were higher due launch of Ashiana Nirmay Ph 4, Bhiwadi and higher sales in Dwarka Ph 4, Jodhpur, launched towards end of Q1.
  • Area constructed lower at 3.73 lakh Sq. ft. (Q3FY22) vs 4.50 lakh Sq. ft. (Q2FY22).
  • Pre-tax operating cash flows (modified and before any land payments) was positive at INR 29.22 Crores (Q3FY22) vs positive at INR 28.18 Crores (Q2FY22).
  • Revenue recognized from completed projects of INR 30.90 Crores (Q3FY22) vs INR 45.60 Crores (Q2FY22). The area delivered in AHL in Q3FY22 was lower at 0.94 lakh Sq. ft. vis a vis in Q2FY22 at 1.37 lakh Sq. ft.
  • The income from Partnerships was at positive INR 6.41 Crores (Q3FY22) vs negative INR 0.26 Crores (Q2FY22). The income from partnership is attributable to delivery of Vrinda Garden Phase 4 and 5 , Jaipur.
  • Other Income of INR 16.88 Crores (Q3FY22) vs INR 15.35 Crores (Q2FY22). Other income includes income from Maintenance, Hospitality and Income from Investments (i.e. all incomes other than revenue from completed projects and partnership income)
  • Total Comprehensive Income negative at INR 3.28 Crores (Q3FY22) vs. negative INR 6.36 Crores (Q2FY22)
  • New land parcel of 9.93 acres has been acquired in Chennai for senior living project development and 3.96 acres in Jamshedpur.
  • Bookings were at 10.23 lakh Sq Ft.
  • Area constructed at 11.12 lakh Sq. Ft. There has been delay in some projects due to pandemic and rains. The expected completion dates have been revised accordingly.
  • Pre-tax operating cash flows (modified and before any land payments) was positive at INR 87.00 Crores for the period.
  • Revenue recognized from completed projects of INR 100.97 Crores for the period. The area delivered in AHL in the period is 2.96 lakh Sq. ft.
  • The income from Partnerships was at positive INR 7.69 Crores for the period.
  • Other Income of INR 46.65 Crores. Other income includes income from Maintenance, Hospitality and Income from Investments (i.e. all incomes other than revenue from completed projects and partnership income)
  • Total Comprehensive Income was negative at INR 15.78 Crores for the period.
  • New land parcels acquired in the current year in Gurgaon 22.1 acres, Pune 11.93 acres, Jaipur 8.6 acres, Jamshedpur 3.96 acres and two land parcels in Chennai of 15.64 acres and 9.93 acres.

 

Result PDF

Highlights:

  • Booking higher at 4.51 Lakhs Sq. ft.(Q2FY22) vs. 1.51 Lakhs Sq. ft (Q1FY22). The bookings in this quarter were higher due launch of Ashiana Nirmay Ph 4, Bhiwadi and higher sales in Dwarka Ph 4, Jodhpur, launched towards end of Q1. In Q1, bookings were low due to lockdown in the country.
  • Area constructed higher at 4.5 Lakhs Sq. ft. (Q2FY22) vs 2.9 Lakhs Sq. ft. (Q1FY22). Our construction commitments were in line with the deliveries scheduled.
  • Pre-tax operating cash flows (modified and before any land payments) was positive at INR 28.18 Crores (Q2FY22) vs positive at INR 29.60 Crores (Q1FY22). However, the half yearly cashflows reported (As per IND AS-7) stood at negative Rs 121.64 Crores. This was primarily due to new Gurgaon project (Ashiana Amarah) land acquisition related payment of Rs 178 Crores.
  • Revenue recognized from completed projects of INR 45.60 Crores (Q2FY22) vs INR 24.47 Crores (Q1FY22). The area delivered in AHL in Q2FY22 was higher at 1.37 Lac Sq. ft. vis a vis in Q1FY22 at 0.65 Lac Sq. ft.
  • The income from Partnerships was at negative INR 0.26 Crores (Q2FY22) vs positive INR 1.55 Crores (Q1FY22).
  • Other Income of INR 15.35 Crores (Q2FY22) vs INR 14.42 Crores (Q1FY22). Other income includes income from Maintenance, Hospitality and Income from Investments (i.e. all incomes other than revenue from completed projects and partnership income)
  • Total Comprehensive Income negative at INR 6.36 Crores (Q2FY22) vs. negative INR 6.14 Crores (Q1FY22)
  • A new land parcel of 15.64 acres has been acquired in Chennai for senior living project development.

 

Result PDF

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