Ganesh Housing Corporation slipped 5.69% to Rs 948.30 after the company's consolidated net profit declined 29.5% to Rs 113.83 crore on 20.82% fall in net sales to Rs 214.13 crore in Q1 FY25 over Q1FY24.
Profit before tax (PBT) climbed 28.98% YoY to Rs 152.72 crore in Q1 June 2024.Total expenses rose 20.39% to Rs 67.90 crore in Q1 FY25 over Q1 FY24. During the quarter, cost of materials consumed stood at Rs 28.02 crore (up 120.62% YoY) while employee benefits expense was at Rs 4.79 crore (up 10.62% YoY).
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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