+
Ashiana Housing Reports 207.18% Surge in Net Profit for Q3 FY24
Real Estate

Ashiana Housing Reports 207.18% Surge in Net Profit for Q3 FY24

Ashiana Housing, a prominent real estate developer, has announced a remarkable surge in its net consolidated profit for the quarter ended December 30, 2023. According to a filing with the Bombay Stock Exchange (BSE), the company reported a staggering growth of 207.18% in its profit after tax (PAT), reaching Rs 278 million in Q3 FY24. This is a significant increase from the Rs 90.5 million registered in the corresponding quarter of the previous fiscal year.

The company's net consolidated total income also witnessed substantial growth, standing at Rs 1.89 billion in Q3 FY24. This represents a growth of 39.86% from the Rs 1.35 billion recorded in the similar quarter last year.

As of December 31, 2023, Ashiana Housing's financial indicators reflected a strong position. The company's net worth stood at Rs 7.52 billion, with a debt-equity ratio of 0.18. The current liability ratio was reported at 0.88, while the total debts to total assets ratio was 0.06. Additionally, the operating margin was noted at 20.58%, demonstrating efficient management of operational expenses, and the net profit margin stood at 14.69%.

This robust financial performance underscores Ashiana Housing's resilience and strategic acumen amidst challenging market conditions. The company's ability to significantly enhance its profitability and total income reflects its successful execution of growth strategies and prudent financial management.

Investors and stakeholders are closely watching Ashiana Housing's trajectory, anticipating further insights into its performance and future outlook as the real estate sector continues to navigate dynamic economic landscapes.

Ashiana Housing, a prominent real estate developer, has announced a remarkable surge in its net consolidated profit for the quarter ended December 30, 2023. According to a filing with the Bombay Stock Exchange (BSE), the company reported a staggering growth of 207.18% in its profit after tax (PAT), reaching Rs 278 million in Q3 FY24. This is a significant increase from the Rs 90.5 million registered in the corresponding quarter of the previous fiscal year.The company's net consolidated total income also witnessed substantial growth, standing at Rs 1.89 billion in Q3 FY24. This represents a growth of 39.86% from the Rs 1.35 billion recorded in the similar quarter last year.As of December 31, 2023, Ashiana Housing's financial indicators reflected a strong position. The company's net worth stood at Rs 7.52 billion, with a debt-equity ratio of 0.18. The current liability ratio was reported at 0.88, while the total debts to total assets ratio was 0.06. Additionally, the operating margin was noted at 20.58%, demonstrating efficient management of operational expenses, and the net profit margin stood at 14.69%.This robust financial performance underscores Ashiana Housing's resilience and strategic acumen amidst challenging market conditions. The company's ability to significantly enhance its profitability and total income reflects its successful execution of growth strategies and prudent financial management.Investors and stakeholders are closely watching Ashiana Housing's trajectory, anticipating further insights into its performance and future outlook as the real estate sector continues to navigate dynamic economic landscapes.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?