Q3FY24
- 2lsf booking (79.14cr) = 3957/sq.feet
- 44cr from Imperia 2 (3500sf?)
- 25cr from Latitude 27 (5100sf)
- Twin tower + Imperia 1= 8cr (4600-4700sf)
- Total booking area: 3,22,831 sq ft (135.24cr)= realisation (2387/sq. feet)
- Delivered= 56.6k sq feet (q); 1.53lsf (9m)
- Applying for CC : Eldeco Imperia, E. Twin Towers
- Imperia 1: total saleable area:3lsf
- New Launches
- E. Trinity (high end)
- E. Imperia Phase II (received 101 bookings in pre-launch for 1,28,450sf ; avg realisation was 3500sf
- New land parcels
- 3 new pieces; hope to conclude land assembly and aggregation in 6m
- Total land acquisition in 9m= 63acres
Other highlights
- Lucknow developing swiftly; however Slow approvals; unable to meet demand; hence hardly any inventory in market
- If they open 100 bookings demand is for 200 bookings
- At present increased land prices are not leading to margin pressure as able to pass on to end users, however cognisant that this might start hurting margins later when unable to pass the increase in land prices
- D/E is 0.3
- If money is needed they can manage if required apart from debt can also raise funds in a SPV format from PE funds or AIF’s who are keen to invest
- avg time to get CC can be 1-3months after filing.
- hope to launch 2 other projects by end of next year from the new aggregated land however unable to commit.
- no new cities or areas being considered as find good demand in Lucknow for next few years.
[Discl: invested]
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