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Ashiana Housing reported a consolidated net profit of INR 13.11 crore for the June quarter, with consolidated income from operations at INR 107 crore. The company also approved a proposal to raise up to INR 5 crore through the issue of non-convertible debentures and bonds on a private placement basis. The results come as the developer continues to operate across residential and senior living segments. Ashiana Housing has delivered more than 28 million square feet across five states and has about 7.3 million square feet under development, according to its investor information.
Real estate developer Ashiana Housing reported a consolidated net profit of INR 13.11 crore for the June quarter, according to company figures reported by Reuters. Consolidated income from operations stood at INR 107 crore during the quarter.
The company also approved the issue of non-convertible debentures (NCDs) and bonds on a private placement basis for up to INR 5 crore. The proposed fund-raising is part of the company's financing arrangements and was approved alongside the quarterly results.
Ashiana Housing has operations across residential housing, senior living, care homes and retail. The company was established in 1979 and later expanded into senior living, becoming one of the early developers to introduce retirement housing projects in India. Its investor information states that it has delivered more than 28 million square feet across nine major sites in five states, while around 7.3 million square feet is currently under development.
The company's portfolio includes comfort homes and senior living projects, along with care homes and retail developments. Ashiana has also maintained in-house construction and property maintenance capabilities across its projects.
The latest quarterly performance comes amid continued financial activity by listed real estate companies, with developers using a mix of project collections, internal accruals and debt instruments to fund construction and ongoing development. Ashiana's approval to raise funds through privately placed NCDs and bonds provides an additional financing route as it continues to develop its existing project pipeline.
Source Reuters
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