By Dominick Rodrigues
Mumbai: Karda Constructions Ltd (KCL), one of India’s fastest-growing real estate companies with a predominant focus on the affordable housing segment, reported a whopping 255.03% growth the Quarter ended June 2021.
The company reported Total Revenue of Rs 20.29 crore (14% y-o-y growth), Ebitda at Rs 11.70 crore (106.2% y-o-y growth) and PAT at Rs 6.12 crore, besides Finance Cost reduced by Rs 33.89 lakhs to Rs 3.01 crore.
Noting the company’s successfully completion and delivery of over 31.18 lakh square feet of saleable area, Naresh Karda, Chairman and Managing Director, Karda Constructions Limited, said that the COVID-19 first wave had prepared the company for emerging through the second wave unscathed and profitable in its real estate recovery.
While the company has a strong project pipeline of Rs 1,185 crore with its 70% projects expected to go live by 2025, Karda said that it had diversified revenue streams – civil contracts, joint development, government and private contract, besides holding land reserves of 7 lakh square feet with access to prime location across Nashik district and other territories.
Describing Karda Construction Ltd (KARDA) as a client-focused real estate development company with presence of over 25 years in the local construction industry, he highlighted the various projects along with Budget Housing Project that had improved KARDA’s presence across all Low, Medium and Premium segments.
Highlighting the driver of its growth being its established and strengthened brand “HARI” that had enabled KARDA to attract positive support for future projects, advance booking, revenue share deals and development rights, he said the result witnessed achievement of the company’s best Q1 performance in its history of Sales & Profitability, besides its new launches also aiding in better overall performance.
