Ganesh Housing Corporation Ltd Share Price – NSE  /  BSE

Construction, Small Cap

On a consolidated basis, profit before tax soared 224.7% YoY to Rs 135.61 crore in Q3 December 2023.

Total expenses rose 125.5% to Rs 44.76 crore in Q2 FY24 over Q2 FY23. During the quarter, cost of materials consumed stood at Rs 41.37 crore (up 26.5% YoY) while employee benefits expense was at Rs 5.32 crore (up 17.2% YoY).

The company continues to remain debt free from a peak debt of Rs 648.6 crore in FY19.

The construction of the 1.3 million square feet Million Minds Phase 1 (IT SEZ) is currently in progress and is nearing 30% completion. Initial talks with Tishman Speyer are ongoing for the marketing of Million Minds Phase 1.

Looking ahead, the company is aiming to develop 30 million square feet of infrastructure and special projects such as Million Minds (IT-SEZ) and townships in the coming years, with an estimated total sales value of approximately Rs 14650 crore.

Ganesh Housing Corporation, known for its residential developments in the mid and higher income segments, holds approximately 500 acres of land in strategic locations in Ahmedabad. It is diversifying its portfolio with expansions into commercial, retail, and township developments.

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Net profit of Ganesh Housing Corporation rose 375.91% to Rs 100.56 crore in the quarter ended December 2023 as against Rs 21.13 crore during the previous quarter ended December 2022. Sales rose 171.40% to Rs 181.43 crore in the quarter ended December 2023 as against Rs 66.85 crore during the previous quarter ended December 2022.

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Ganesh Housing Corporation will hold a meeting of the Board of Directors of the Company on 17 January 2024.

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Net profit of Ganesh Housing Corporation rose 344.73% to Rs 86.01 crore in the quarter ended September 2023 as against Rs 19.34 crore during the previous quarter ended September 2022. Sales declined 50.15% to Rs 163.35 crore in the quarter ended September 2023 as against Rs 327.68 crore during the previous quarter ended September 2022.

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