Ashiana Housing Ltd., a prominent real estate developer, has reported its highest-ever pre-sales of ₹1,313.43 crores in the fiscal year 2023, marking a significant milestone in the company's growth trajectory. The robust performance underscores the company's strong market position and effective execution of its expansion strategy.

Key Highlights

• Record Pre-Sales: Ashiana Housing achieved pre-sales of ₹1,313.43 crores in FY23.
• Area Booked: The company saw a 75% increase in area booked, reaching 25.86 lakh square feet.
• New Project Launches: Five greenfield projects totaling 29.46 lakh square feet were launched.
• Sales Price Improvement: Average sales price improved by 31% year-on-year to ₹5,080 per square foot.
• Revenue Growth: Total revenue increased to ₹425.19 crores, up from ₹233.59 crores in FY22.

Operational Achievements

Ashiana Housing demonstrated strong operational performance across various metrics. The company successfully launched five greenfield projects, including Ashiana Amarah Phase 2 in Gurugram, which saw all 224 units sold at launch. This impressive sell-out reflects the strong demand for Ashiana's offerings and the company's ability to deliver products that resonate with buyers.

Financial Performance

The company's financial results show a substantial improvement, with total revenue reaching ₹425.19 crores in FY23, compared to ₹233.59 crores in the previous fiscal year. This 82% year-on-year increase in revenue highlights the company's ability to capitalize on market opportunities and execute its growth strategies effectively.

Expansion and Land Acquisition

Ashiana Housing continues to focus on strategic expansion. The company delivered 10.51 lakh square feet of residential space and acquired new land parcels in Jaipur and Manesar. These new acquisitions have a potential saleable area of 21 lakh square feet, providing a strong pipeline for future growth.

Future Outlook

Looking ahead, Ashiana Housing has set ambitious targets for the coming fiscal year:

• Pre-Sales Target: The company aims to achieve ₹1,500 crores in pre-sales for FY24.
• Profitability Goals: Management is targeting 30% gross margins.
• Return on Equity: The company aims for a 15% ROE.

Strategic Focus

Gurgaon emerged as a key market for Ashiana Housing, contributing 40% of the value booked. The company plans to continue its focus on this region, alongside its successful senior living projects. This dual strategy of geographic concentration and segment specialization is expected to drive growth in the coming years.

Conclusion

Ashiana Housing's record-breaking performance in FY23 and its ambitious targets for FY24 demonstrate the company's strong market position and growth potential. With a clear strategy focusing on key markets like Gurgaon and specialized segments such as senior living, Ashiana Housing appears well-positioned to capitalize on the growing demand in India's real estate sector.

Ashiana Housing , a prominent real estate developer, has made a significant move in the senior living segment by acquiring 22.71 acres of land in Chennai. The company has secured this land on a perpetual lease from Mahindra World City Developers Ltd, with plans to develop a comprehensive senior living project featuring both villas and apartments.

Strategic Expansion in Chennai

The newly acquired land is strategically located adjacent to Ashiana Housing's existing 'Ashiana Vatsalya' project, enhancing the company's presence in the Chennai market. With a saleable area of approximately 15 lakh square feet, the project boasts a substantial sales potential of Rs 1,200 crore.

Project Details and Market Potential

Company Performance and Expansion Plans

Ashiana Housing has been experiencing robust growth, as evidenced by its recent financial performance:

The company currently operates nine ongoing projects across various cities including Bhiwadi, Chennai, Jaipur, Pune, and Lavasa. In line with its growth strategy, Ashiana Housing has plans to expand its footprint into new markets, specifically targeting Bengaluru and Mumbai.

Market Position and Future Outlook

This latest land acquisition in Chennai underscores Ashiana Housing's commitment to strengthening its position in the senior living segment. The company's focus on this niche market, coupled with its expansion plans and strong sales performance, indicates a positive outlook for its future growth.

As the demand for specialized senior living facilities continues to rise in India, Ashiana Housing's strategic investments and project developments position it well to capitalize on this growing market segment.

With its diverse portfolio of ongoing projects and plans for geographical expansion, Ashiana Housing appears poised for continued growth in the real estate sector, particularly in the senior living niche.