Robust festive demand spurts Q3 sales: Ansal Properties

Ansal Properties , which is having a good run on the bourses, has seen a spurt in its Q3 sales on the back of festive demand. The realty company is planning to focus more on residential projects in the near term. "Costs & risks have gone up in the residential segment. We will see activities increasing if the prices remain stable," said  COO Dinesh Gupta on CNBC-TV18.

The company says it plans to focus on high growth markets like NCR and other North Indian states. It plans to accelerate cash flow by selling assets from the finished stock sales. Moreover, the management is in talks for asset sales to reduce debt and will continue to seek PE participation to increase execution. 

Also Read: Real estate year-end review and the outlook for 2014

Though there had been no real launches in Q3, the company has sold 2.5-3 million sq ft in the quarter and is looking to sell 3.5 -4 million sq ft in the next quarter. The average price realisation for the first three quarters stood at Rs 1,275/sq ft and it expects to end FY14 with price realisation Of Rs 1,250/sq ft.

The comapny's Q2 revenues were up at Rs 444 crore as against Rs 329 crore the previous year of the corresponding quarter. EBITDA stood at Rs 78 crore against Rs 28 crore and profit after tax was at 32 crore against Rs 1.5 crore the previous year corresponding quarter. The profits surged due to profits booked from bulk sale of one of slow moving projects in Greater Noida.

 Transcript to follow

Ansal Propertie stock price

On December 27, 2013, at 14:15 hrs Ansal Properties & Infrastructure was quoting at Rs 22.15, up Rs 0.30, or 1.37 percent. The 52-week high of the share was Rs 42.50 and the 52-week low was Rs 12.20.

The company's trailing 12-month (TTM) EPS was at Rs 2.33 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.51. The latest book value of the company is Rs 105.50 per share. At current value, the price-to-book value of the company is 0.21.

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