The results are out (Link here) .
There is decent progress in terms of margins. From the concall, the mgmt mentioned that they are looking to expand into Bangalore and Chennai and many developers are interested. Need to see how this scales.
Still, the shareholder equity is reducing at about 15% CAGR. From 720Cr in 2020, it is now 540 Cr in 2023.
Also, when I was digging through cashflows, I saw this entry “Payment to shareholders on reduction of Equity Share Capital”. Not sure if they did buyback of shares…
Disc: Tracking and waiting for cashflow to come in
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