Eldeco Housing’s net income surges by 23.72 percent in Q4 FY23

16 May 2023 CW Team

Eldeco Housing's net consolidated total income for the fourth quarter of FY23 was Rs 419.9 million, up 23.72 percent from Rs 339.4 million for the same period the previous year.

In the three months that ended on March 31, 2023, Eldeco Housing & Industries' net consolidated profit fell by 2.62 percent. According to a BSE filing by the company, its profit after tax increased to Rs 149 million in Q4 FY23 from Rs 145.2 million in the prior year's similar quarter.

The company's net consolidated total income for the fourth quarter of FY23 increased by 23.72 percent to Rs 419.9 million from Rs 339.4 million in the same quarter of FY22.

Pankaj Bajaj, chairman and managing director of the company, stated, “Eldeco has not had a particularly great year in terms of fresh sales in FY23. The sales were down due to the absence of new launches. The land assembly and approval process took longer than anticipated. We expect these issues to be resolved in the first or second quarter of the current fiscal year. We plan to raise debt against existing and new projects this year. We feel that the time is right to invest at this stage of the real estate cycle.”

The final dividend for the fiscal year 2022-2023 has been recommended by the board of directors at a rate of 400%, or Rs 8 per equity share with a face value of Rs 2.

The board also approved the purchase of 18,061 equity shares, or 100% of Surya Season Foods (the firm is engaged in the real estate business), at a price of Rs 1,068.79 per share, converting it into a wholly owned subsidiary of the company. According to a BSE statement by the firm, Surya Season Foods has a net value of Rs. 1.92 crore as of March 31, 2022.

“The industry size, which had been flat for nearly 10 years, is looking set to double in the next three to four years. The underlying reasons for rising incomes, positive demographics, and rapid urbanisation remain intact. The customer, particularly in smaller towns, is also showing a certain insensitivity to interest rate movements, probably due to low mortgage levels overall,” said Bajaj.

Between April 2022 and March 2023, the business added 20.91 acres to its land bank. In Q4 FY23, the company reported collections of Rs 23.6 crore and sales bookings of Rs 248 million.

Eldeco Housing's net consolidated total income for the fourth quarter of FY23 was Rs 419.9 million, up 23.72 percent from Rs 339.4 million for the same period the previous year. In the three months that ended on March 31, 2023, Eldeco Housing & Industries' net consolidated profit fell by 2.62 percent. According to a BSE filing by the company, its profit after tax increased to Rs 149 million in Q4 FY23 from Rs 145.2 million in the prior year's similar quarter. The company's net consolidated total income for the fourth quarter of FY23 increased by 23.72 percent to Rs 419.9 million from Rs 339.4 million in the same quarter of FY22. Pankaj Bajaj, chairman and managing director of the company, stated, “Eldeco has not had a particularly great year in terms of fresh sales in FY23. The sales were down due to the absence of new launches. The land assembly and approval process took longer than anticipated. We expect these issues to be resolved in the first or second quarter of the current fiscal year. We plan to raise debt against existing and new projects this year. We feel that the time is right to invest at this stage of the real estate cycle.” The final dividend for the fiscal year 2022-2023 has been recommended by the board of directors at a rate of 400%, or Rs 8 per equity share with a face value of Rs 2. The board also approved the purchase of 18,061 equity shares, or 100% of Surya Season Foods (the firm is engaged in the real estate business), at a price of Rs 1,068.79 per share, converting it into a wholly owned subsidiary of the company. According to a BSE statement by the firm, Surya Season Foods has a net value of Rs. 1.92 crore as of March 31, 2022. “The industry size, which had been flat for nearly 10 years, is looking set to double in the next three to four years. The underlying reasons for rising incomes, positive demographics, and rapid urbanisation remain intact. The customer, particularly in smaller towns, is also showing a certain insensitivity to interest rate movements, probably due to low mortgage levels overall,” said Bajaj. Between April 2022 and March 2023, the business added 20.91 acres to its land bank. In Q4 FY23, the company reported collections of Rs 23.6 crore and sales bookings of Rs 248 million. See also: DLF’s fourth-quarter net profit increases by 40%Mindspace REIT's NOI up 9.2%, posts net loss of Rs 339 mn in Q4 FY23

Resources

29 May 2026

KBL Launches Smart Skid Mounted Fire Pump Set

Kirloskar Brothers (KBL) has launched its Smart Skid Mounted Fire Pump Set, an integrated fire protection solution designed to improve operational efficiency, remote monitoring and installation flexibility. The system was inaugurated by Ms Madhuritai Misal, Hon. Minister of State for Urban Development, Government of Maharashtra.The Smart Skid Mounted Fire Pump Set is a factory-tested, pre-packaged solution that combines FM/UL-certified motor and engine pump sets with IoT-enabled remote monitoring. Designed to deliver a flow rate of 170 m³/hr at a head of 100 metres, the system aims to provide..

Real Estate

29 May 2026

Senior Living Shifts Beyond Retirement Housing

Senior living in India is increasingly being positioned as a lifestyle-driven housing segment rather than conventional retirement accommodation. Across projects in Bengaluru, Pune and the NCR, developers are focusing on wellness ecosystems, assisted independence and active ageing, reflecting changing perceptions of later life among urban affluent buyers.The shift is being driven by financially secure seniors seeking socially engaged and professionally managed communities instead of ageing in large family homes. Developers are also moving away from standalone retirement campuses, particularly i..

Products

29 May 2026

Antica Ceramica Launches Heritage-Inspired Terracotta Tiles

Antica Ceramica has launched a new terracotta tile collection inspired by India’s architectural heritage and designed for contemporary interiors and exteriors. The range combines handcrafted aesthetics with modern functionality, bringing warmth, texture and cultural character to residential and hospitality spaces.Drawing inspiration from traditional courtyards, verandahs and heritage homes, the collection features terracotta tones, handcrafted motifs and customisable patterns aimed at transforming flooring and surfaces into design elements. The launch reflects growing demand for natural mate..