Ashiana Housing Ltd
Ashiana Housing Limited
Update for Quarter Ending June 30th 2012
1
Utsav Bhiwadi
Agenda
Highlights and Overview Ongoing Project Details Financial Summary Future Projects Future Outlook
2
Highlights (Q1 FY13)
Acquired a land parcel measuring 1.03 acres in Bhiwadi. Target product – Group Housing. Disposed Tanawada Land at Jodhpur measuring 10.92 Acres. Customers started moving into Rangoli Gardens. Phase-1 handed over 4 months ahead of schedule. Prices increased in most projects leading to increased average realizations per sq. ft.
3
Overview (Q1 FY13)
As disclosed earlier, revenue recognition and profits accounted will be weak for FY12-13 & FY 13-14 as the company will transition to contract completion method of accounting from percentage of completion method. The operating and cash flow figures will provide a better gauge of performance going forward. *Pre-tax operating cash flows from ongoing projects of the company remained buoyant at Rs 2,775 lakhs for Q1FY13 .
* Pre-tax operating cash flows from ongoing projects is not a statutory statement but a modified calculation as per the company. The company will report this number every quarter going forward and a detailed statement annually. The Annual Report for 2011-12 contains the detailed statement of FY12 for reference.
4
Overview (Q1 FY13)
Area Bookings witnessed decline of 22% YoY and 40% QoQ due to:
Non-availability of saleable inventory. Steps already taken to get the same through both fresh acquisitions and approvals on existing land parcels. Some sluggishness observed in market also effected sales. However, Q2 is expected to perform better than Q1.
Area Constructed witnessed increase of 3% YoY and decline of 41% QoQ due to:
Non-availability of buildable inventory Quarterly fluctuations (Q1 as a % of total constructed area in an year is generally weak on a trend)
5
Ongoing Projects
Project Name Location Type Saleable Area (lsf) Area Launched (lsf) Area Booked
Update for Quarter Ending June 30th 2012
1
Utsav Bhiwadi
Agenda
Highlights and Overview Ongoing Project Details Financial Summary Future Projects Future Outlook
2
Highlights (Q1 FY13)
Acquired a land parcel measuring 1.03 acres in Bhiwadi. Target product – Group Housing. Disposed Tanawada Land at Jodhpur measuring 10.92 Acres. Customers started moving into Rangoli Gardens. Phase-1 handed over 4 months ahead of schedule. Prices increased in most projects leading to increased average realizations per sq. ft.
3
Overview (Q1 FY13)
As disclosed earlier, revenue recognition and profits accounted will be weak for FY12-13 & FY 13-14 as the company will transition to contract completion method of accounting from percentage of completion method. The operating and cash flow figures will provide a better gauge of performance going forward. *Pre-tax operating cash flows from ongoing projects of the company remained buoyant at Rs 2,775 lakhs for Q1FY13 .
* Pre-tax operating cash flows from ongoing projects is not a statutory statement but a modified calculation as per the company. The company will report this number every quarter going forward and a detailed statement annually. The Annual Report for 2011-12 contains the detailed statement of FY12 for reference.
4
Overview (Q1 FY13)
Area Bookings witnessed decline of 22% YoY and 40% QoQ due to:
Non-availability of saleable inventory. Steps already taken to get the same through both fresh acquisitions and approvals on existing land parcels. Some sluggishness observed in market also effected sales. However, Q2 is expected to perform better than Q1.
Area Constructed witnessed increase of 3% YoY and decline of 41% QoQ due to:
Non-availability of buildable inventory Quarterly fluctuations (Q1 as a % of total constructed area in an year is generally weak on a trend)
5
Ongoing Projects
Project Name Location Type Saleable Area (lsf) Area Launched (lsf) Area Booked