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Eldeco Housing and Industries Q1 profit jumps to Rs 10 crore

Realty firm Eldeco Housing and Industries Ltd on Tuesday reported more than two-fold jump in consolidated net profit at Rs 10.08 crore for the quarter ended June. Its net profit stood at Rs 4.65 crore in the year-ago period. Total income rose to Rs 30.07 crore in the April-June quarter of this fiscal from Rs […]

Realty firm Eldeco Housing and Industries Ltd on Tuesday reported more than two-fold jump in consolidated net profit at Rs 10.08 crore for the quarter ended June. Its net profit stood at Rs 4.65 crore in the year-ago period. Total income rose to Rs 30.07 crore in the April-June quarter of this fiscal from Rs 16.46 crore in the corresponding period of the previous year.

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Eldeco Housing and Industries Ltd Chairman & Managing Director Pankaj Bajaj said: “This is traditionally the slowest quarter of the year, but we are happy with our performance. The key takeaway was that real estate demand, especially that for quality housing, is quite strong and resilient.” “We passed on the rise in the input prices to our customers. Home loan rates also increased. But we find that the customer is not sensitive to such movements as long as they are within a brand,” he said.

Eldeco Housing and Industries Ltd, which is part of Eldeco Group, is engaged in the promotion, construction, development and sale of townships, residential and commercial properties. The company was founded in 1985 and is based in Lucknow. 

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