Eldeco Housing & Industries Ltd

- Eldeco Housing & Industries Limited secured substantial funding of around Rs. 160 crores in Q2 FY24 from two lenders, Piramal and ICICI Bank. - Out of this Rs. 160 crores, around Rs. 80 crores has already been allocated and deployed to support development initiatives. - The company currently has enough dry powder (internal cash/funds) for planned land acquisitions in H2 FY24 and does not require immediate fresh debt. - However, the company remains open to taking more debt if attractive land acquisition opportunities arise, as acquisition is opportunistic in nature. - No specific mention of any planned equity fundraising was made in the call.

- Eldeco Housing & Industries Limited has acquired approximately 20.6 acres of land in H1 FY24 as part of ongoing land aggregation, with plans to continue expanding the land portfolio in coming months. - The Company has secured substantial funding of around ₹160 crores from Piramal and ICICI Bank in Q2 FY24, with ₹80 crores already deployed to support development initiatives. - Land acquisition is ongoing, with plans to acquire more land parcels in H2 FY24. - The Company remains open to strategic tie-ups and partnership deals for land acquisition and development, provided the opportunities meet their criteria on location, IRR, approval and aggregation risks. - The funding and capital raised will be utilized to support new project launches like Imperia Phase-2, Eldeco Trinity, and Latitude 27 in Lucknow. - The Company has headroom in its balance sheet and is open to taking additional debt if required for opportunistic land acquisitions.

- Eldeco expects to more than double sales bookings in the current year compared to last year (from ~100 crores in last year to approximately 200-220 crores). - Significant contribution to sales will come from Imperia Phase-2 and Eldeco Trinity, accounting for around 50-60% of bookings. - New projects like Latitude 27 have shown strong booking performance, with around 50% units already allotted and more pre-commitments expected to convert in H2 FY24. - Revenue recognition and reported revenues reflect projects launched 3-4 years ago; upcoming deliveries of Twin Tower and Imperia Phase-1 expected to positively impact reported revenues in Q4 FY24 or Q1 FY25. - Larger project deliveries (Imperia 2, Trinity, Latitude) are expected over the next 3-5 years, supporting top-line growth and revenue recognition. - EBITDA margins are expected to moderate to 25-35% (from historical 35-40%) due to higher land costs on new projects.

- Eldeco expects more than doubling sales bookings in the current year compared to last year (approx. doubling from around ₹100 crore last year). - New project launches such as Imperia Phase-2 and Eldeco Trinity (total inventory ~11 lakh sq ft) are expected to contribute significantly over the next 3-4 years. - Revenue recognition will gradually improve as Twin Tower and Imperia Phase-1 complete by Q4 FY24 or Q1 FY25. - EBITDA margins for new projects are expected to be lower than historical highs of 35-40%, likely in the range of 25-35%. - Plotted horizontal development projects like Imperia Phase-2 may yield higher margins than group housing projects. - Reported revenues may remain muted in FY24 and FY25 due to project delivery timelines but expected to grow as newer projects are delivered starting FY25. - Collections and bookings from new launches (e.g., Latitude 27) indicate robust operating performance and growth potential in the medium term.

- Eldeco aims to more than double its sales bookings this year compared to last year (from around ₹100 crore to roughly ₹200-220 crore). - Approximately 50-60% of this booking value is expected from Imperia Phase-2 and Eldeco Trinity projects. - The inventory being released includes 11 lakh sq.ft from Imperia Phase-2 (6.3 lakh sq.ft) and Trinity. - Recent project launch Latitude 27 has already seen around 50% sales allotment (~40-41 units). - Future deliveries from Twin Tower and Imperia Phase-1 are expected in Q4 FY24 or Q1 FY25, contributing positively to revenue. - Land acquisitions are ongoing with about 20 acres purchased recently, of which around 3.2-3.5 acres are for Eldeco Trinity. - The company also has subsidiaries acquiring land in other cities like Gurugram, Sonipat, Ludhiana, but primary focus remains Lucknow.