Karda Constructions Ltd. announces excellent results

Nashik (Maharashtra) [India], June 2 (ANI/NewsVoir): Karda Constructions Ltd.'s best ever quarter for PAT stood at INR 12.65 crore in Q4 FY21 representing QoQ growth of 240%.

Karda Constructions Ltd.'s best ever growth in corresponding quarter for PAT stood 607% i.e. From INR 1.79 Crores in Q4 FY 20 to INR 12.65 in Q4 FY 21

Total Revenue of INR 128.45 crore for FY21, highest ever in a financial year by Karda Constructions Ltd.

Karda Constructions Ltd. has reported an impressive jump of 111% in PAT on YoY basis. i.e. From INR 9.55 Crores (FY 20) to INR 20.18 Crores (FY 21)

BSE & NSE listed Karda Constructions Ltd. (KCL) (BSE:541161; NSE: KARDA), a leading real estate developer, announced its financial results for the quarter and year ended March 31, 2021.

The Company has reported a jump of 240% in its net profit for the 4th Quarter (Q4) of the current financial year (FY 20-21) on QoQ basis on the back of strong recovery in the real estate sector post the ease in lockdown measures. The company's net profit increased to INR 12.65 crores in Q4 FY 21 from INR 3.74 Crores in Q3 FY 21 showing a significant growth of 240%.

For the year ended 31st March 2021, The Total Revenue of the company has increased to INR 128.46 Crores in FY 21 from INR 118.33 Crores in FY 20 showing a growth of 8.50%. Net Profit saw a huge improvement in FY21, and stood at INR 20.18 crore (FY21) as compared to INR 9.55 crore (FY20), an increase of 111%. EPS also grew to INR 3.28 (FY21) from INR 1.55 (FY20).

The company's business activity falls within two business segment - Development of Real Estate Properties and Civil Contracting Business. The company has witnessed growth in both the segments in QoQ and YoY basis.

Commenting on performance of Q4 FY 20-21, Naresh Karda Chairman and Managing Director, Karda Constructions Ltd, said, "During the FY 20-21, the Real estate segment has been impacted like all other segments of the economy by the 2nd wave of COVID-19. We expect the sector will continue the robust recovery, once this crisis abates. In Q4, we are happy & pleased to have delivered our best ever Quarterly performance in terms of Revenue and PAT. We have successfully achieved a PAT of INR 12.65 Crores in Q4. During the financial year, the Government of Maharashtra has also been instrumental in the growth in the real estate segment by providing relief in stamp duty."

Financial Overview (Standalone)

Q4 FY21 performance overview compared with Q4 FY20

Total Revenue stood at INR 47.72 crore as compared to INR 28.25 crore

Net Profit stood at INR 12.65 crore as compared to INR 1.79 crore

EPS stood at INR 2.06 as compared to INR 0.29

FY2021 performance overview compared with FY2020

Total Revenue stood at INR 128.46 crore as compared to INR 118.33 crore

Net Profit stood at INR 20.18 crore as compared to INR 9.55 crore

EPS stood at INR 3.28 as compared to INR 1.55

Karda Constructions Ltd. is a First-Generation Construction Company in Maharashtra and Western India with a disciplined and professional approach. The Company is founded and promoted by Naresh Karda in year 2007. The promoter has an experience of more than 25 years in the construction industry.

The company has established brand name as "Hari" for all its project. The Company has received an Award for the "Iconic Budget Home" by Times Realty Icons Award 2019, Navi Mumbai & Thane. The Company also received an Award for the "The Most Preferred Real Estate Company", of Nashik at the event "My Maharashtra Awards-2019".

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