Ashiana Housing gains on recording multi-fold jump in Q3 PAT

Ashiana Housing rallied 3.67% to Rs 302.55 after the company reported consolidated net profit of Rs 27.80 crore in Q3 FY24, steeply higher than Rs 9.05 crore posted in Q3 FY23.

Net sales jumped 44.24% year on year (YoY) to Rs 184.12 crore in the quarter ended 31 December 2023.

During the quarter, profit before tax surged to Rs 34.60 crore from Rs 12.69 crore in corresponding quarter previous year.

On the margins front, the realtors operating margin improved to 20.58% in Q3 FY24 from 13.05% posted in Q3 FY23.

Net profit margin grew to 14.69% in the third quarter as compared to 6.69% recorded in the corresponding quarter previous year.

On nine-month basis, the companys consolidated net profit zoomed to Rs 66.02 crore in 9M FY24 from Rs 17.5 crore in 9M FY23. Net sales soared to Rs 647.38 crore in 9M FY24 as against Rs 291.08 crore posted in the corresponding period previous year.

Ashiana Housing is engaged in real estate activities with own or leased property. The company's projects include comfort homes, senior living and kid centric homes.

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