FY24Q1
- No launches in Q1FY24
- Bookings should atleast double in FY24 (vs 92.5 cr. in FY23)
- Eldeco Latitude 27: Launched in July 2023 (4.35 lakh sq.ft; potential of 250 cr. pre-sales)
- Eldeco Imperia Phase 2: 250 cr. potential pre-sales
- Have acquired 3 acre of land for Eldeco Trinity, this was a recent deal and they hope to launch in FY24 (can also get shifted to FY25 depending on approval process)
- 75-80% of inventory that was opened was sold in Bareilly project
- Will require 200 cr. for project investments in FY24, will raise 100 cr. debt from Piramal with early repayment option
- In horizontal development projects, ~25% of inventory is blocked by authority, which gets released once they deliver the projects (after receiving OC)
- Horizontal development costs: 2-3 cr./acre land; 2 cr./acre for development; 1 cr./acre for getting registrations & 1 cr./acre in overhead costs
- Approval process in Uttar Pradesh and Haryana is getting elongated which is actually benefitting company right now as their actual launch prices are higher than earlier planned
- Given the city land prices are high, focusing on high rises within the city
Disclosure: Not invested (no transactions in last-30 days)
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