Q2FY24 Quarterly Result Announced for Ganesh Housing Corporation Ltd.
Realty company Ganesh Housing Corporation announced Q2FY24 results: 1. Company Overview: - Ganesh Housing Corporation Limited (GHCL) is a leading real estate developer based in Ahmedabad, Gujarat. - The company has a strong track record and is known for its transparency, trust, and high-quality projects. - GHCL has a diverse portfolio of residential and commercial projects, with a focus on providing innovative and sustainable spaces. 2. Financial Performance: - Q2FY24 revenue was Rs 1,641 million, compared to Rs 3,278 million in Q2FY23, representing a decrease due to market conditions. - Q2FY24 EBITDA grew 55% YoY at Rs 1,221 million, and PAT grew 346% YoY to Rs 860 million. - The company has remained debt-free since FY19, with a strong balance sheet and a cash surplus of Rs 773 million. 3. Ongoing Projects and Future Plans: - GHCL is developing Million Minds Phase 1, an IT SEZ project, which is currently underway and expected to be completed by March 2026. - The company has a strong pipeline of residential projects, including Smile City 1 and 2, and a township project with a total sales value of approximately Rs 1,37,500 million. 4. Strategic Partnership with Tishman Speyer: - GHCL has entered into a strategic partnership with Tishman Speyer, a global real estate player, for the marketing of Million Minds Phase 1. - This collaboration will leverage Tishman Speyer's expertise and network to enhance the commercial success of the project. Result PDF19-10-2023