Ashiana Housing Crosses Of Rs 1,100 Crore Annual Booking Target In 2022-2023

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Ashiana Housing exceeds its annual booking value target of Rs 1,100 crore. The company has exceeded its annual booking value of Rs 1,100 crore for the financial year 2022-2023. The total booking value for financial year 2023 was Rs 1,278.84 crore, with 25.21 lakh square feet of booking area.

In addition, a total of 351 expressions of interest (EOIs) were received in phase 2 of the ‘Ashiana Amarah’ project in Gurugram (Haryana), which comprises of 224 units with a saleable area of 3.77 lakh square feet with a tentative sale value of Rs 290 crore.

The process of converting EOI into bookings will begin in April 2023. The company had a total booking value of Rs 1,279 crore as of 20th March 2023, with a total booking area of 25.21 lakh square feet. The Phase 1 of the same project, consisting of 224 units, was launched and completed in October last year.

In addition, Ashiana Housing is considering a co-investment proposal with the International Finance Corporation (IFC) for upcoming middle-income residential projects, including senior living projects. The proposed project has a total cost of Rs 337.5 crore, and IFC has proposed investing Rs 225 crore through Non-Convertible Debentures.

In quarter 3 financial year 2023, the company reported a 111 percent Year on Year increase in total income to Rs 135 crore, compared to Rs 64 crore in the same quarter last year. In addition, the company reported a net profit of Rs 9 crore, compared to a net loss of Rs 4 crore in Quarter 3 Financial Year 2022.

Source- Moneycontrol

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