Indian benchmark indices were seen trading eking out modest gains in the first half of the trading session on Thursday with Nifty and Sensex adding 0.12% and 0.10%, respectively. Meanwhile, the talk of the town the Smallcap index is seen relatively outperforming the frontline indices hands down as it has jumped over 1%. One of the stocks which have caught investors’ attention in this segment is Ashiana Housing Ltd.
As the name suggests, the company is primarily engaged in the business activity of Real Estate Development. In 2022, the company has been awarded India’s No.1 Senior Living for the 6th time in a row. The company is rated as India’s Top 10 Realty brand and No. 1 Senior Living Homes brand.
The stock witnessed a thunderous move on Thursday as it jumped nearly 10% and at one point in time, the stock had hit the upper circuit limit of 20% on BSE of Rs 206.80.
So, what’s the key tailwind behind this robust performance of the stock for the day?
The stock had witnessed a nearly 49.3% YoY jump in its sales and other income. EBITDA jumped 39.3% YoY to Rs 14.06 crore in Q4FY23. Net profit for the quarter stood at Rs 10.38 crore up by 17 YoY. For FY23, sales Value for FY23 was at Rs 1313.43 crore vs Rs 573.25 Crores for FY22, a YoY increase of 129%. For the same period, the booking increased by 75% from 14.76 Lakh Sq.ft (FY22) to 25.86 Lakh Sq.ft (FY23). Sales Price improved to Rs 5,080 psf (FY23) vs Rs 3,883 psf (FY22), an increase of 31% YoY, driven by increasing prices across projects and changing mix towards higher priced projects. Total Revenue increased to Rs 425.19 crore (FY23) vs Rs 233.59 crore (FY22), a YoY increase of 82%. EBITDA margins for FY23 stood at 10.77% as against 1.24% in FY22.
The stock has delivered multibagger returns in the last three years as it has skyrocketed approx. 291%. And, in the last one year, it is up by 48.35%.