Eldeco Housing & Industries Ltd Sales rose 114% YoY in FY24

Eldeco Housing & Industries Ltd Sales rose 114% YoY in FY24

Eldeco Housing and Industries Ltd. (EHIL) saw a substantial 114% rise in sales bookings during the first nine months of FY24, owing to the success of Eldeco Imperia Phase 2. The company’s strong market presence and growing demand for high-quality residential properties in Lucknow have contributed to this growth. Over 100 units of Eldeco Imperia Phase 2 were pre-sold before it even opened. This led to sales bookings of 1,28,450 square feet during the quarter. This achievement highlights the effectiveness of EHIL’s marketing and sales strategies and its ability to identify and capitalize on emerging real estate trends.

Driving Factors Behind Sales Boost

The company has also acquired over 63 acres of land to strengthen its pipeline of upcoming projects. With this purchase and strong sales, the company is set up to continue growing and expanding in Lucknow’s rapidly growing real estate market.

Collections went up by 16% to Rs 31.6 crore in Q3 FY24, which is also a good sign for the company’s finances. This financial stability enhances EHIL’s ability to deliver on its commitments to customers and stakeholders. It is clear that EHIL’s focus on delivering quality projects and customer satisfaction is paying off as the company continues to make progress in the real estate market. A lot of sales and smart land purchases show that the company is growing, and they also show that homebuyers and other stakeholders trust the company.

Building Trust as a Reliable Developer

Since the pre-launch of Eldeco Imperia Phase 2 went well and the company bought more than 63 acres of land, the future looks bright. The company’s impressive sales bookings of 3.2 lakh sq ft during 9MFY24, coupled with a 16% increase in collections, paint a picture of a company that is not just growing but thriving. As EHIL expands its portfolio and establishes its presence in the market, its reputation as a reliable and trusted developer grows stronger.

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