Ashiana Housing India claims growth

Volume growth, led by strong contributions from the existing projects, has enabled Ashiana Housing Limited to record a revenue growth of 47% in the first quarter ending June 30, 2010.

The company’s Sales & Other Income grew to `42.85 crore in the current quarter ended June 2010 from `29.23 crore in the quarter ended June 2009. EBITDA during the quarter under review grew 32% at `14.91 crore compared to `11.28 crore recorded in the corresponding quarter of the previous year. Profit after tax in the current quarter grew 32% at `11.71 crore from `8.90 crore in the corresponding quarter last year.

Commenting on the robust performance in the fist quarter Mr. Varun Gupta, Director, Ashiana Housing Ltd Said “With quarter bookings of 3.26 lsf in first quarter, 276% higher than the corresponding quarter last year, Ashiana Housing has started this fiscal year with a notable performance and we are geared up to meet our annual target of 12 lsf bookings.

“In the first quarter we started recognizing revenues from Utsav Lavasa. The construction at the site is on full swing. We have also started construction of Rangoli Gardens at Jaipur” added Mr Gupta.