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Ashiana Housing Ltd.

BSE: 523716 Sector: Infrastructure
NSE: ASHIANA ISIN Code: INE365D01021
BSE 12:31 | 17 Jan 171.80 0.75
(0.44%)
OPEN

172.60

HIGH

172.60

LOW

169.85

NSE 12:24 | 17 Jan 171.90 0.60
(0.35%)
OPEN

172.00

HIGH

173.90

LOW

169.60

OPEN 172.60
PREVIOUS CLOSE 171.05
VOLUME 1506
52-Week high 209.95
52-Week low 93.10
P/E
Mkt Cap.(Rs cr) 1,758
Buy Price 171.75
Buy Qty 10.00
Sell Price 171.80
Sell Qty 2.00
OPEN 172.60
CLOSE 171.05
VOLUME 1506
52-Week high 209.95
52-Week low 93.10
P/E
Mkt Cap.(Rs cr) 1,758
Buy Price 171.75
Buy Qty 10.00
Sell Price 171.80
Sell Qty 2.00

Ashiana Housing Ltd. (ASHIANA) - Chairman Speech

Company chairman speech

Dear Stakeholders

I hope that you and your families are safe and doing well. The second wave of Covid-19had hit the world including India hard and caught everyone off-guard. The ferocity of thesecond wave was much more severe than the first one and it also led to greater learningand there were some key takeaways for all of us. It is abundantly clear by now thatvaccination is the key to manage this pandemic achieving herd immunity along withadopting covid protocols like social distancing wearing masks and regularly sanitisinghands can only prevent repeated outbreak of the virus. We at Ashiana are encouraging allour employees and their family members to get vaccinated by organising camps and othermeans. In-house Maintenance is the key differentiator for company and one of the criticaltasks was to ensure continuity of operations in all our projects and keeping the residentssafe during this pandemic. We kept on engaging with our customers on a regular basis andensured smooth conduct of all the maintenance activities in the projects by strictlyadhering to the Covid protocols.

The previous year was a difficult year for the sector due to unprecedented impactlockdown had on our operations in the first quarter of the previous year. Despite allthese challenges I am pleased to share that area booked in FY21 was 14.97 lakhssq. ft. and 1131 units were booked during the previous year with a sales value of H534.68 crores. This was primarily due to successful launch of Ph-4 of Ashiana Shubham inChennai and Ph-3 of Ashiana Daksh Ph-5 of Ashiana Umang in Jaipur and complete sale outof Ph-2 of Ashiana Aditya in Jamshedpur.

On the construction front we recorded an EAC (Equivalent Area Constructed) of 11.66lakhs sq. ft. (AHL: 8.76 lakhs sq. ft. and Partnerships: 2.90 lakhs sq. ft.). Ourconstruction has been generally in line with our commitment. We have been previouslyselective and conservative in launch of new phases and had kept our phase size smaller tokeep construction in check and conserve precious working capital. However withimprovement in sales and new launches in future our construction commitments will alsoincrease. We stay committed with our brand promise timely delivery of homes to ourcustomers. Every year we take a central theme in our organisation and the same is drivenwith utmost passion and dedication across all levels. It gives me immense pleasure toshare with you that for the financial year 2021-22 we have taken up execution i.e.construction as our central theme. Its called

‘‘Need for Speed - Construction Mania 2021-22".

Our target for construction in the current year is higher than what we have achievedanually in the last 5 years. This ambition is in line with our robust sales in last 2years which has increased our construction commitments.

Operational Cash Flows significantly improved at positive H 171.65 crores in FY2021vis a vis last year positive at H 34.22 crores due to healthy collections received fromnewly launched as well as existing projects during the previous year.

Owing to the continuing impact of the Covid-19 pandemic the times ahead are uncertainbut the resilience and tenacity of the company and its employees fuels the ambition toreach greater heights. With the second wave peakinginQ1ofFY2022thesector might confrontsimilar challenges as in FY2021. There has been a rise in commodity prices like steel andcement which has increased our construction costs. We are hopeful that the adverse impactdue to increased costs can be off setted by increase in sales prices in our projectsgoing froward. There is a favorable environment of customer affordability coupled withvery low interest rates and stamp duty waiver in few states which augurs well for theindustry. We have a strong financial position and cash flow visibility for giving ahealthy performance in future. We have been able to create a pipeline of projects in ourareas of operations and once successfully launched these projects will create a virtuouscycle of cash flows and profits in the time to come.

The team at Ashiana is truly exceptional and passionate in taking forward the vision ofthe organisation in our endeavour to run business in a transparent customer centric andsustainable manner.

I’d like to take this opportunity to sincerely thank my management team for theexceptional efforts they have made throughout the year to ensure strong performance in anadverse environment. I would also like to thank our joint venture partners valuedcustomers business associates and suppliers for their unwavering support and trust.Finally a big vote of thanks to all our investors for their continued belief in ourcompany.

With best wishes

Vishal Gupta

Managing Director

.