Ashiana Housing Ltd

- There is no specific mention of any current or planned new fundraising through debt or equity in the provided transcript. - Varun Gupta mentioned targeting a 15% ROE and managing growth with or without raising capital, implying no immediate need for capital raise. - Discussion around buyback was mentioned, but no firm plans have been finalized. - The company is focusing on business development within existing geographies and replacement stock rather than aggressive expansion requiring additional capital. - No direct indications of upcoming debt or equity fundraising were provided during the call.

- Ashiana Housing is focused on business development within existing geographies, outside senior living, where expansion is planned in a couple more cities (Page 16). - They added about 20 lakh sq. ft. of replacement stock last year through 3 deals (Jaipur, Gurgaon), with active discussions for another 20 lakh sq. ft. across 2 transactions (Page 16). - The company is waiting for market conditions to become more conducive before pursuing more aggressive stock additions (Page 16). - They aim to maintain a 15% Return on Equity (ROE) with a mid-to-low teens growth rate in capital base (Page 16). - No firm plans yet on buyback or capital return strategies; still under contemplation (Page 12). - Some non-core asset disposals are underway to optimize capital: school and certain other non-core assets are intended for transaction (Page 12). - No signs of entering new NCR centers beyond Bhiwadi for senior living; focus remains on selective geographic expansion (Page 12). Overall, the company is pursuing targeted, measured capital investments mainly via replacement stock and senior living expansions.

- Targeting ₹1,500 crores value of area booked in FY '24, up from ₹1,300 crores in the previous year. - Expect sales value realization in the range of ₹5,000 crores to ₹5,500 crores. - Aim to increase the base scale of the company to about 14-15 lakh square feet and ₹700-750 crores sales in poor cycles, with aspirations to double this scale over 5 years. - Projected Revenue growth rate of mid to low teens percentage annually, supported by a target Return on Equity (ROE) of 15%. - Planning incremental addition of 20 lakh square feet in new deals across existing geographies over the next 1-2 years. - Confidence is high in price appreciation particularly in Gurgaon, Jaipur, senior living segment, and Jamshedpur. - Maintaining a 30% gross profit margin with improved operational efficiencies.

- Targeting a base scale increase to about 14-15 lakh sq. ft. and ₹700-750 crores sales in down cycles, aiming to double base scale in 5 years (Page 16). - Expect pre-sales value of ₹1,500 crores for FY24 (Page 10). - Targeting a 15% economic ROE, with double-digit ROE achieved in FY23; aiming to exceed 15% ROE from FY23-24 onwards (Pages 7, 10). - Operating with a 30% gross profit margin, sales & marketing costs at 4%-4.5%, overheads at about 7-7.7%, aiming for 13%-15% PAT margin (Page 11). - Future growth linked to controlled revenue share in JV transactions and managing pricing sustainably (Page 16). - EBITDA margins historically low due to depressed volumes; improving with volume recovery and sales growth (Page 14). - Delivery volumes expected around 26 lakh sq. ft. in FY24, supporting revenue recognition growth (Page 4).

- The company has booked about ₹2,100 crores of stock, which is booked but not yet recognized as revenue. - There is additional inventory amounting to ₹5,500 crores in sales value potential. - In FY '23, around 25 lakh square feet were booked with a value of approximately ₹1,300 crores. - For the coming financial year (FY '24), the company expects to have a sales value around ₹1,500 crores. - Deliveries planned for FY '24 are around 26 lakh square feet. - The company is actively engaged in land deals and has ongoing negotiations, including 2 projects with HSIIDC and 2 in Jaipur, totaling about 20 lakh square feet each, indicating a steady pipeline for replacements. - Overall, the order book and pending orders are robust, with continuity expected in sales and deliveries.