Eldeco Housing Closes FY 22 with Highest Ever Bookings & Collections
Eldeco Housing and Industries Ltd. announced its results for the fourth quarter and full year of the financial year 2021-22. The company had the highest ever booking of Rs. 265 crores in FY22 versus Rs. 95 crores in FY21, a growth of 179%. About 7.0 lakh Sq. Ft was booked in FY22 versus 2.5 lakh Sq. Ft in FY21- a growth of over 175% It received the highest ever Collections of Rs. 152 crores in FY22 versus Rs. 128 crores in FY21 - growth of 18%.
It spent Rs 73 Crores in FY22 versus Rs 34 Crores in FY21- a growth of 115% in construction. The company also informed they acquired 22 acres of land in FY22 vs 2 acres of land in FY21- a growth of 1000% Pankaj Bajaj, Chairman & Managing Director said, “The housing sector continues to see a healthy demand. In fact, the residential real estate, which was grappling with weak demand for years, after the pandemic is now struggling to replenish the inventory levels to keep up the supply. Many micro markets, including within Lucknow, are now out of inventory and fresh supply in terms of launchable new projects is low. Therefore, in-spite of a strong demand environment, we may not see major expansion in sales in the coming quarters. The challenge of rising input costs will be mitigated by this low supply scenario enabling the market to absorb the pass through of cost escalations.” He also added- “Our Q4 numbers have been stable, and we have been able maintain our profit margins. We are not seeing any major challenge in delivering all our projects within committed timelines, and some of them ahead of schedule. We are looking to add more projects in the coming quarters to maintain the supply pipeline in order to meet the demand.”
Tags : Eldeco Housing Highest Ever Bookings & Collections Pankaj Bajaj Chairman & Managing Director