Ashiana Housing Crosses Annual Booking Value Guidance of Rs 1,100 Cr

Ashiana Housing crosses annual booking value guidance of Rs 1,100 crore. In current month, the company has crossed its annual booking value guidance of Rs 1,100 crore for the year 2022-23. 

The total booking value for FY23 (upto March 20) stood at Rs 1,278.84 crore with booking area of 25.21 lakh sq ft. Further, it has also received 351 expressions of interest (EOIs) in phase 2 of 'Ashiana Amarah' project at Gurugram (Haryana), which consists of 224 units with saleable area 3.77 lakh square feet and the tentative sale value stood at Rs 290 crore. The conversion of EOI into booking will commence in April 2023. As of March 20th, the company has achieved a total booking value of Rs 1,279 crore with a booking area of 25.21 lakh square feet.

Furthermore, the company has received 351 expressions of interest (EOIs) for phase 2 of the 'Ashiana Amarah' project in Gurugram, which consists of 224 units with a tentative sale value of Rs 290 crore. The conversion of EOIs into bookings is expected to commence in April 2023. Phase 1 of the same project, which comprises 224 units, was launched and fully sold out in October 2022.

Ashiana Housing is also considering a co-investment proposal with the International Finance Corporation (IFC) for upcoming middle-income residential projects, including senior living projects. The total cost of the proposed project is Rs 337.5 crore, and IFC has suggested investing Rs 225 crore through Non-Convertible Debentures.

In Q3FY23, the company reported 111 percent YoY growth in total income at Rs 135 crore against Rs 64 crore reported in the same quarter last year. The company also reported a positive net profit at Rs 9 crore compared to a net loss of Rs 4 crore in Q3FY22.