Ashiana Housing's Quarterly Profit Soars Despite Decline in Sales Bookings

Ashiana Housing reported a fivefold increase in net profit for the third quarter, with earnings reaching Rs 56.65 crore. Despite a drop in sales bookings, total income significantly rose, underscoring the firm's robust performance. The company remains a leader in India's real estate sector.

Ashiana Housing, a prominent real estate firm, has reported a substantial increase in its net profit, highlighting a fivefold jump to Rs 56.65 crore in the third quarter. This impressive growth is attributed to better income performance compared to Rs 10.89 crore recorded during the same period last year.

According to the company's regulatory filing, total income surged to Rs 373.35 crore in the October-December quarter of the current fiscal, up from Rs 139.93 crore a year prior. Despite a challenging market, Ashiana Housing's overall fiscal performance demonstrated resilience, as it posted a net profit of Rs 96.91 crore for the first nine months, overturning a net loss of Rs 2.10 crore from the previous year.

However, the operational front saw a decline in sales bookings, which fell to Rs 397.03 crore in the third quarter from Rs 454.16 crore in the previous year. Yet, the Delhi-based company remains a key player in India's real estate market, balancing profit growth with operational challenges.