Concall Notes - Feb 2024 (Source:Screener Notes)
Financial Performance:
- Total sales for the 9 months at INR16,333 crores, up by 81%
- Collections up by 20%, totaling INR8,478 crores
- Average realization grown by 19% to INR10,143
- Debt equity remains at 0.6
- Unrecognized revenue of INR32,000 crores expected to have gross margins of 30-32%
- Debt outside books on JV projects around INR1,900-2,000 crores
- Other income includes REIT units, interest income, and dividends, with REIT contributing INR90-100 crores
Operational Highlights:
- Sold 16.13 million square foot of area and 8,402 units
- Launched over 30 million square foot of area in the fiscal year
- Completed 12 million square foot, crossing 300 projects totaling 180 million square foot
- Under construction and planning projects equal to 170 million square foot
- Sales already made close to INR32,000 crores of revenue
- Highest-ever launches during the fiscal year
- Prestige City format expanding to various cities
Strategic Initiatives:
- Looking to expand operations to new regions and add new projects
- Evaluating potential equity raise for hospitality portfolio monetization
Stakeholder Value:
- Strong focus on growth and creating value for stakeholders
- Continuing efforts to grow and create value for all stakeholders.
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