Ashiana Housing's sales bookings jump 2-fold to 1,313 cr in FY23 on higher volumes, better price realisation

Realty firm Ashiana Housing has clocked a more than two-fold jump in its sales bookings to ₹1,313.43 crore in the last fiscal on strong housing demand.

Sales bookings of Delhi-based Ashiana Housing, which specialises in senior living, stood at ₹573.25 crore in the 2021-22 fiscal.

According to an investor's presentation, sales bookings in volume terms rose 75 per cent to 25.86 lakh square feet during 2022-23 from 14.76 lakh square feet in the preceding fiscal.

Sales price improved by 31 per cent to ₹5,080 per square foot in FY23 from ₹3,883 per square foot in the previous fiscal, driven by "increasing prices across projects and changing mix towards higher priced projects".

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The company constructed nearly 17 million square feet area in the last fiscal.

During 2022-23, Ashiana Housing launched five new projects and eight new phases in existing projects, totalling 29.46 lakh square feet of area.

Recently, Ashiana Housing announced an investment of ₹275 crore to develop a housing project in Pune for senior citizens.

The project spread over 11.93 acres will be developed in four phases.

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On financial performance, Ashiana Housing's sales and other income rose to ₹425.19 crore last fiscal from ₹233.59 crore in FY22.

Its net profit stood at ₹27.88 crore in the 2022-23 fiscal against a net loss of ₹7.04 crore.

Ashiana Housing is one of the leading real estate developers in the country. It has a presence in Gurugram, Jaipur, Bjiwadi, Jodhpur, Chennai, Pune and Jamshedpur property markets. It is listed on stock exchanges.

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