Ganesh Housing Corporation Q3 FY24 Results: A Detailed Analysis
A detailed analysis of the Q3 FY24 results of Ganesh Housing Corporation, including an introduction to the company, its financial results, and stock performance
Introduction
Ganesh Housing Corporation Limited, one of the leading real estate developers in Gujarat, was founded in 1965 by Late Shri Govindbhai C Patel. The company has established itself as a symbol of trust in the real estate sector by constructing some of the most iconic landmarks in and around Ahmedabad.
About the Company
Ganesh Housing Corporation is engaged in the business of construction and real estate development in and around Ahmedabad. Since its incorporation as a Public Limited Company in 1991, it has developed and sold over 22 million Sqft of real estate space, with another 35 million Sqft currently under development. The company's commitment to excellence in construction methodology and quality of work has earned it the prestigious ISO 9001:2000 certification, endorsed by KPMG, USA.
Financial Results
The Q3 FY24 results for Ganesh Housing Corporation have shown a significant increase. The revenue for Q3 FY24 was reported at Rs 1,833 million, marking a 172% increase. For the nine months, sales were INR 6,152.34 million compared to INR 4,370.48 million a year ago. The net income was INR 3,479.05 million compared to INR 535.76 million a year ago.
Stock Performance
The stock performance of Ganesh Housing Corporation has seen a positive trend. On January 17, 2024, the company's stock price was INR 513.95, marking a significant increase from the previous close of INR 451.35. The company's stock has outperformed the sector, gaining 7.07% on December 29, 2023.
Conclusion
The Q3 FY24 results of Ganesh Housing Corporation reflect the company's strong financial performance and its commitment to delivering quality real estate developments. The positive trend in the company's stock performance further underscores its robust financial health and promising future prospects.
Disclaimer
This blog post is for informational purposes only and should not be considered as investment advice. Investors are advised to do their own research or consult a financial advisor before making any investment decisions.
Keywords: Ganesh Housing Corporation, Q3 FY24 Results, Financial Results, Stock Performance, Real Estate Developers, Ahmedabad, Gujarat, ISO 9001:2000 certification, KPMG, USA.