Real estate firm Ashiana Housing Ltd today reported a 32 per cent rise in net profit at Rs 11.71 crore for the quarter ended June 30 against Rs 8.9 crore in the year ago period.
The revenue grew by 47 per cent to Rs 42.85 crore during the first quarter of this fiscal against Rs 29.23 crore in the corresponding period of last fiscal, Ashiana Housing said in a statement.
The company attributed the increase in revenue and net profit to higher sales. It booked 3.26 lakh sq ft of area in the first quarter, 276 per cent more than the year-ago period.
"We are geared up to meet our annual target of 12 lakh sq ft of bookings," Ashiana Housing Director Varun Gupta said.
Ashiana Housing focuses on developing retirement resorts under the brand name 'Utsav'. It has developed resorts for elderly people at Bhiwadi in Haryana and Jaipur in Rajasthan.
The company is building a retirement resort at Lavasa township project, which is being developed by construction major HCC on 12,500 acres of land near Pune.
