Ashiana Housing Q1 revenue grows 47%

The company’s sales & other income grew to Rs 42.85 crore in the current quarter ended June 2010 from Rs 29.23 crore in the quarter ended June 2009.

By ET Online | Aug 05, 2010, 11.31 AM IST

New Delhi: Volume growth, led by strong contributions from the existing projects, has enabled Ashiana Housing Ltd to record a revenue growth of 47% in the first quarter ended June 30, 2010. The company’s sales & other income grew to Rs 42.85 crore in the current quarter ended June 2010 from Rs 29.23 crore in the quarter ended June 2009. EBITDA during the quarter under review grew 32% at Rs 14.91 crore compared to Rs 11.28 crore recorded in the corresponding quarter of the previous year. Profit after tax in the current quarter grew 32% at Rs 11.71 crore from Rs 8.90 crore in the corresponding quarter last year.

Commenting on the robust performance of the company, Varun Gupta, director, Ashiana Housing Ltd, said, “With quarter bookings of 3.26 lsf in first quarter, 276% higher than the corresponding quarter last year, Ashiana Housing has started this fiscal year with a notable performance and we are geared up to meet our annual target of 12 lsf bookings. In the first quarter we started recognizing revenues from Utsav Lavasa. The construction at the site is on full swing. We have also started construction of Rangoli Gardens at Jaipur.”

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