NEW DELHI: Eldeco Housing & Industries has reported a dip of 21.54 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 11.69 crore in Q4 FY24 as against Rs 14.90 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 51.56 crore in Q4 FY24, a growth of 22.79 per cent from Rs 41.99 crore it recorded in the similar quarter last year.
Pankaj Bajaj, chairman & managing director of the company said, “The fiscal year 2024 was a significant year for us on two counts- One, we received our highest ever bookings in terms of sales value and Two, we were finally able to break the logjam of fresh land bank acquisition and add to our project pipeline.”
The board of directors considered and recommended a final dividend for the financial year 2023-2024, at the rate of 400% i.e. Rs. 8 per equity share of face value of Rs. 2 each.
Tha board also approved increase in the remuneration payable to Bajaj for a period of three years commencing from July 1, 2024 to June 30, 2027.
Total area booked surged by 803% year-on-year to 4,59,582 sq ft in Q4 FY24, collections stood at Rs 38.3 crores in Q4 FY24; surged by 62% year-on-year. During FY24, the company purchased about 65 acres of land.
“The other highlight was our fresh land acquisition of about 60.9 acres spread over three locations in Lucknow. We hope to be able to launch at least 2 of these projects within the FY 24-25,” said Bajaj.
