Second successive quarter with highest ever quarterly value sales booking for Eldeco in Q3 FY22

New Delhi, February 11, 2022: Eldeco Housing and Industries Ltd. (EHIL) (B.S.E.: 523329), a leading Lucknow-based real estate player, announced its results for the third quarter of financial year 2021-22.

Management Comments: 

Commenting on the results, Mr. Pankaj Bajaj, Chairman & Managing Director  said, “We continue to register strong bookings and improved realizations in our projects. We have clocked bookings worth Rs. 108 crore this quarter, making this our second successive quarter with highest ever sales value. Our cash collections have also grown this quarter, an indication of the fact that these are healthy bookings. The market response to the launch of villas in our Eldeco Imperia project was tremendous and we booked more than 90% inventory in this quarter.”

He also added- “in response to the strong demand environment we are sourcing new projects which we hope to bring to the market in the next financial year. There are inflationary pressures on the cost side but to some extent we are able to pass on the increased costs to the market”.

Operational Highlights:

§  Company is witnessing strong demand with improved realization for its projects. During the quarter, 2.56 Lakh Sq. Ft. area was booked with realization of Rs. 4,230 per Sq. Ft as compared to a realization of Rs. 4,075 per Sq. Ft in Q2FY22.

§  Booking Value recorded at Rs. 108 crores, saw 28.6% Y-o-Y growth in Q3FY22.

§  Collections recorded at Rs. 56.4 crores in Q3FY22, grew 73.5% Y-o-Y and 48.9% Q-o-Q growth in Q3FY22.

§  The Company launched additional number of Villas in Eldeco Imperia project this quarter, which received very good response last quarter. 93% of available Villas were already booked till 31^st December 2021.

Corporate Comm India (CCI Newswire)