Ashiana Housing extends gain to 2nd day, jumps 8% on strong Q3 business update

Over the past 3 months, shares of Ashiana Housing has surged over 25 percent

Shares of Ashiana Housing extended gains to second straight day, rising up to 8.5 percent to Rs 395 apiece on January 8 after it showcased a strong December quarter (Q3FY25) business update. With this, the stock of this realty player has surged over 9 percent in two days.

Over the past 3 months, shares of Ashiana Housing has surged over 25 percent, beating benchmark Nifty 50's 4 percent decline. Earlier, Ashiana Housing had hit fresh 52-week high of Rs 468 apiece on June 20, 2024.

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In its Q3FY25 update, Ashiana Housing reported a 161 percent year-on-year (YoY) increase in the value of area sold, reaching Rs 454.31 crore compared to Rs 173.88 crore in the same period last year. However, on a sequential basis, the value of area sold declined by 32 percent.

The company's area booked saw a 101 percent YoY growth, totaling 6.75 lakh square feet, up from 3.35 lakh square feet a year ago. Ashiana Housing recorded 451 units booked in Q3FY25, compared to 482 units in Q2FY25 and 252 units in Q3FY24.

Additionally, the sale value rose by 45 percent YoY, primarily driven by the launch of Amarah Phase 4 in Gurugram, where 3.49 lakh sq ft out of 4.79 lakh sq ft was sold in the first nine months of FY25, generating a sale value of Rs 503.81 crore. The total sale value for the area booked stood at Rs 1,362.17 crore in 9MFY25, up from Rs 935.68 crore in 9MFY24.

Ashiana Housing is an Indian real estate developer, primarily focused on creating residential projects. The company specialises in building homes that cater to a wide range of needs, offering options from budget-friendly to luxurious living spaces.

Additionally, Ashiana Housing serves the mid-segment market by providing affordable housing solutions for families seeking quality living at accessible prices.

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