The KDS Family Discretionary Trust has acquired a substantial stake in Ganesh Housing Corporation Limited through an off-market transaction. The deal involves the purchase of 31,33,333 equity shares, representing 3.76% of the company's total share capital.

Transaction Details

Company Overview

Ganesh Housing Corporation Limited, a company listed on both the BSE Limited and National Stock Exchange of India Limited, has the following total equity share capital structure:

Key Points

1. Insider Transaction: The seller, Mr. Kunal Dhanpalbhai Shah, also serves as the trustee of the KDS Family Discretionary Trust, the acquiring entity.

2. Regulatory Compliance: The transaction was disclosed in accordance with SEBI regulations for substantial acquisition of shares, ensuring transparency in the market.

3. Impact on Ownership: This acquisition represents a significant change in the ownership structure of Ganesh Housing Corporation Limited, with 3.76% of the company's shares changing hands in a single transaction.

The off-market nature of this transaction and the relationship between the buyer and seller suggest a strategic move within the company's ownership structure. Investors and market watchers may want to monitor any potential changes in the company's direction or governance that could result from this shift in shareholding.

It's important for investors to consider such ownership changes as part of their overall assessment of a company's stock, alongside other factors such as financial performance, market conditions, and industry trends.

Ganesh Housing Corporation Limited , a prominent real estate developer in Ahmedabad, reported a 30% year-on-year decline in quarterly revenue to ₹151.00 crores. Despite the revenue drop, the company showcased resilience with improved EBITDA margins and a robust project pipeline.

Financial Performance

The company's Q1 financial results revealed:

• Revenue: ₹151.00 crores (down 30% YoY)
• EBITDA margin: Improved to 85% from 71% in the previous year
• PAT (Profit After Tax): ₹93.00 crores, compared to ₹114.00 crores in the previous year
• PAT margin: Widened to 61.60% from 51.60% YoY

Project Updates

Malabar Retreat

• Premium residential project
• 43% construction completed
• Sample flats ready for viewing
• Experiencing increased footfall since opening show units

Million Minds SEZ Phase 1

• Ahead of schedule
• 80% of leasable area under active discussions or concluded
• Expected lease income to start from Q3-Q4
• Anticipated rentals around ₹70-75 per square foot

Godhavi Township

• 10 acres sold during Q1 at ₹30,000 per square foot
• Majority of Q1 income derived from this project

One Thaltej

• Commercial project of 1.8 million square feet
• In final approval stages
• Estimated lifetime revenue of ₹2,100.00 crores

Strategic Position

Ganesh Housing maintains a strong financial position with negligible debt and a robust cash position. The company's land bank spans 525 acres, providing ample opportunities for future development.

Management Commentary

B. Ravi, Corporate and Financial Advisor, stated during the earnings call, "Q1, if I may say, it was a quarter of stabilization. While the macro indicators including the repo rate, expectations, cost of capital and urban consumption remained relatively benign, the real estate market in Ahmedabad saw a somewhat cautious sentiment."

He added, "Ahmedabad has cemented its position as Gujarat's real estate powerhouse. The city now accounts for 42% of all real estate investments in the state as per recent reports and leads in both residential and commercial development."

Future Outlook

Despite the muted Q1 performance, the management remains optimistic about the company's prospects. They expect stronger momentum from Q2 onwards, particularly as the festive season approaches. The company continues to focus on timely project execution, revenue diversification, and capital efficiency.

Corporate Developments

In a separate announcement, Ganesh Housing Corporation Limited informed that shareholders have approved changing the company's name to "Ganesh Housing Limited" through a special resolution passed via postal ballot. This change, along with consequent alterations to the Memorandum and Articles of Association, reflects the company's evolving business focus and brand identity.

As Ganesh Housing navigates through market fluctuations, its diverse project portfolio and strong financial position appear to provide a solid foundation for future growth in the dynamic Ahmedabad real estate market.