I have spoken earlier about Ashiana Housing and I will not repeat it. Suffice it to say that apart from the existing savvy investors in the form of Westbridge Capital/ Jwalamukhi, Prof. Sanjay Bakshi and Ashish Kacholia, Creador Capital and Goldman Sachs have also taken a sizeable position in the Company.
Forbes now has an interesting write up on Ashiana Housing. The report explains the business model of the Company and the plans for the future. It is noted that the management intends to grow at 20-25 percent every year for the next 10 years.
The report also notes that Prof. Sanjay Bakshi, managing partner at ValueQuest Capital LLP, is a long-time personal investor in Ashiana Housing. He points out that Ashiana’s debt-free status is a positive aspect. “You only have to look at some of the large developers’s leveraged balance sheets as well as fundamental and stock market performance to see why Ashiana shines in an area where many have faltered in the last six years” he says.
The report also cites Daljeet S Kohli, head of research, IndiaNivesh Research as being appreciative of the asset light model. “Such a system helps it remain debt free and keeps cash flow positive” Daljeet says.
Rajat Budhiraja, portfolio manager at Banyan Capital Advisors, has also given his take on the prospects of Ashiana Housing.
We must also take note of the latest interview of Ankur Gupta of Ashiana Housing where he gave details of the new residential project ‘Ashiana Anmol’ located at Sohna in Gurgaon. He pointed out that the company expects revenue of Rs 600 crore from this project. The project is spread across 13.37 acres of land with total saleable area of the project is 11.50 lakh square feet. The timeline of the project would be around 4-5 years. Phase I of the project is expected to be completed in about 40 months and realisations will start post that. He also pointed out that in the next year the Company is looking at three more launches in Chennai, Kolkata and in Bhiwadi.