Jamshri Realty Reports Rs 426.37 Crore Net Loss for FY2023, Shows Signs of Recovery

Jamshri Realty Limited , a company focusing on property development and hospitality services, has reported its financial results for the fiscal year ending March 31, 2023. Despite ongoing challenges, the company shows signs of improvement in its financial performance.

Financial Highlights

Item	FY2023	FY2022
Net Loss	426.37	585.78
Total Income	551.92	381.28
Revenue from Operations	389.21	300.76
Total Expenses	958.53	833.35
Basic EPS (Continuing Operations)	-572.85	-785.10

All figures in Rs crore, except EPS

Performance Analysis

Jamshri Realty Limited demonstrated a mixed financial performance for the fiscal year 2023. While the company continued to report a substantial net loss, there are indications of improvement compared to the previous year.

The company's total income saw a significant increase of 44.8%, rising from Rs 381.28 crore in FY2022 to Rs 551.92 crore in FY2023. This growth was primarily driven by a 29.4% increase in revenue from operations, which reached Rs 389.21 crore.

Despite the growth in revenue, Jamshri Realty reported a net loss of Rs 426.37 crore for FY2023. However, this represents an improvement from the Rs 585.78 crore loss reported in the previous year, indicating some progress in the company's financial health.

Operational Focus

Jamshri Realty has shifted its focus from manufacturing to property development. The company is now primarily engaged in developing space for various purposes, with over 90% of its space currently under development. This strategic shift aligns with the company's two main operating segments: Property & Related Services and Hospitality Services.

Financial Position

The company's financial position remains challenging, with equity turning negative at Rs 55.47 crore as of March 31, 2023. This negative equity position underscores the ongoing financial pressures faced by Jamshri Realty.

Earnings Per Share

The basic earnings per share from continuing operations showed an improvement, moving from -Rs 785.10 in FY2022 to -Rs 572.85 in FY2023. While still negative, this change reflects the reduced net loss for the year.

Conclusion

Jamshri Realty Limited's financial results for FY2023 present a picture of a company in transition. While still facing significant challenges, as evidenced by the continued net loss and negative equity position, the company has shown some signs of improvement. The increased revenue and reduced net loss suggest that the company's focus on property development and hospitality services may be starting to yield results. However, the road to profitability remains challenging, and stakeholders will be closely watching the company's performance in the coming years.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.82%	-0.71%	+9.19%	+4.84%	-39.69%	+388.10%

Jamshri Realty Limited , a prominent player in the real estate and hospitality sectors, has announced significant changes to its leadership team along with its financial results for the first quarter.

Leadership Changes

The company's Board of Directors, in a meeting held on August 12, made two key appointments:

Re-appointment of Joint Managing Director: Rajesh Damani has been re-appointed as Joint Managing Director for a one-year term, effective from October 1. This decision is subject to shareholder approval at the upcoming Annual General Meeting (AGM). Damani brings 37 years of experience across various industries, including textile, engineering, IT, IT infrastructure, and retail.
New Independent Director: Ankoor Sharad Kulkarni has been appointed as an Additional Independent Director with immediate effect. Kulkarni's appointment adds over 30 years of expertise in finance, business planning, analytics, information technology, strategic marketing, and risk management to the board.

Q1 Financial Highlights

For the quarter ended June 30, Jamshri Realty reported:

Particulars (₹ in lakhs)	Q1	Q4	Q1	FY (Full Year)
Revenue from Operations	183.78	168.42	167.27	703.12
Other Income	45.85	40.23	93.28	202.33
Total Income	229.63	208.65	260.55	905.46
Total Expenses	214.81	250.33	254.78	1,042.38
Profit/(Loss) before Tax	14.82	(41.68)	5.76	(104.50)
Net Profit/(Loss) for the period	9.00	(46.44)	0.95	(123.80)

The company's performance showed improvement in Q1 compared to the previous quarter and the same quarter last year. Total income increased to ₹229.63 lakhs, up from ₹208.65 lakhs in Q4 and ₹260.55 lakhs in Q1 of the previous year. Notably, the company turned profitable with a net profit of ₹9.00 lakhs, compared to losses in the previous periods.

Segment Performance

Jamshri Realty operates in two main segments:

Property & Related Services: This segment generated revenue of ₹124.11 lakhs in Q1, showing growth from both the previous quarter (₹192.97 lakhs) and the same quarter last year (₹122.52 lakhs).
Hospitality Services: Revenue from this segment stood at ₹92.38 lakhs, an improvement from ₹80.82 lakhs in Q4 and ₹73.80 lakhs in Q1 of the previous year.

Other Developments

The Board of Directors also approved a proposal to avail a loan convertible into equity shares, subject to shareholder approval at the upcoming AGM.

Jamshri Realty continues to focus on its core businesses while strengthening its leadership team. The company's improved financial performance in Q1, along with strategic appointments, positions it for potential growth in the coming quarters.