Eldeco Housing & Industries' net profit declines 29.64% in Q2 FY25

14 Nov 2024 CW Team

Eldeco Housing & Industries has reported a 29.64% drop in net consolidated profit for the quarter ending September 30, 2024. Profit after tax for Q2 FY25 stood at Rs 45.1 million, down from Rs 64.1 million in the same period last year, according to a BSE filing. Despite this, the company’s net consolidated total income saw a substantial increase of 95.07%, reaching Rs 363.8 million compared to Rs 186.5 million in the previous year’s corresponding quarter.

Chairman and Managing Director Pankaj Bajaj explained, "Our operational margins appear reduced this quarter due to the specific project mix for revenue recognition. During this period, we also acquired an additional 3.84 acres of land, expanding our total land aggregation for new township projects to 65 acres. We plan to seek approvals for about 45 acres soon, with potential revenue exceeding Rs 6 billion. We anticipate launching this project early next year."

The company reported an average price realisation of Rs 6,581 per square foot for the area booked in Q2 FY25, while booking value surged 316% to reach Rs 1.03 billion. Collections for the quarter stood at Rs 519 million.

(ET)

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..