Ashiana Housing (523716) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 saw a sharp decline in area booked to 4.43 lakh sq ft and value booked to ₹235.32 crore, mainly due to lack of inventory in key projects and high base in the previous quarter.

• Revenue for Q1 FY25 was ₹128.51 crore, nearly flat year-over-year but down from ₹296.96 crore in Q4 FY24; consolidated total income was ₹12,851 lakhs.

• Net loss for Q1 FY25 was ₹5.45 crore (₹545 lakhs), compared to profits in prior quarters, impacted by lower margin projects, one-off staff incentives, and delayed delivery interest.

• New launches included Ashiana Ekansh (Jaipur, premium homes) and Ashiana Advik (Bhiwari, senior living); handover commenced in Chennai and completion certificate received for Ashiana Utsav Lavasa Phase 4.

• Earnings per share for Q1 FY25 were -₹0.51, versus ₹1.72 in Q4 FY24 and ₹1.09 in Q1 FY24.

Financial highlights

• Q1 FY25 revenue: ₹128.51 crore vs ₹129.29 crore in Q1 FY24 and ₹296.96 crore in Q4 FY24.

• Q1 FY25 net loss: ₹5.45 crore vs profit of ₹10.87 crore in Q1 FY24 and ₹17.38 crore in Q4 FY24.

• Pre-tax operating cash flow: ₹74.92 crore in Q1 FY25 vs ₹83.15 crore in Q1 FY24 and ₹92.20 crore in Q4 FY24.

• EBITDA margin for Q1 FY25 was -0.27%; net profit margin was -4.24%.

• FY24 sales and other income reached ₹966.52 crore, with PAT at ₹83.40 crore and EBITDA margin at 12.34%.

Outlook and guidance

• Losses are expected in Q2 FY25 due to low deliveries, but H2 FY25 is anticipated to be profitable with higher deliveries.

• Full-year FY25 guidance for ₹2,000 crore in pre-sales is maintained.

• Revenue of ₹3,227.68 crore is already locked in over the next three years from ongoing projects.

• Launches planned for Ashiana Amara Phase 4, Ashiana Malhar Phase 3, and ONE44 Phase 2 in the current quarter; Ashiana Swarang and Ekansh Phase 4 in the next.

• The Board recommended a dividend of ₹1.5 per equity share, subject to shareholder approval.