During the quarter, company received booking for 2.65 lakh sq ft area translating into sales booking of Rs 108 crore.
“With the easing of COVID-19 induced lockdown, the company witnessed a strong demand for residential properties. We registered strong booking in our on-going projects with improved realisation and registration of properties in completed projects,” said Pankaj Bajaj, Chairman and Managing Director of the company.
“Our newly launched villas in project ‘Eldeco Imperia’ witnessed strong demand where we booked more than 50% available villas within a few days of launch. We expect this demand environment to sustain time,” he added.
Company is witnessing strong demand with improved realisation for its projects. During the quarter, 2.65 lakh sq ft area was booked with realisation of Rs 4,075 per sq ft. The Q2FY22 sales value surpassed annual sales value of the last three years.
“Five of our projects are nearing completion which gives us strong visibility of revenues in the near term while our pipeline of projects is also strong with five projects in planning and approval stage. However, there has been high-cost inflation this year. We will have no choice but to pass on these cost increases to the customers,” Bajaj added.
The board has recommended stock split in the ratio of 1:5 to improve liquidity of the stock.
