Any current/future capex/capital investment/strategic investment?

Eldeco Housing has been actively acquiring land, especially in Lucknow, over the past few years, with definitive agreements and title takeovers completed in FY'24. They completed 3 major land acquisitions totaling about 60 acres, adding approximately INR 1,000 crores to their gross developable value over the next 3-4 years. There are 5-6 more land acquisition deals in the pipeline; the company will proceed only with those meeting due diligence, feasibility, and financial criteria. New launches like Trinity and Latitude 27 are planned, with approvals in progress. The company is cautious about c

Future growth expectations in sales/revenue/volumes?

The company aims to surpass the historic sales figures of FY'24, which recorded the highest-ever area booked (7.8 lakh sq ft) and booking value (INR 388 crores). With 3 new land acquisitions in Lucknow (~60 acres) and the upcoming launch of the luxury project Eldeco Trinity in FY'25, they expect increased sales. Approvals for new projects will influence revenue growth; the target is to launch at least two of the three new acquisitions in FY'25. Conservative guidance provided; expecting topping or exceeding FY'24 booking numbers but cautious on exact revenue targets. The market demand in Luckno

Future growth expectations in earnings/operating earnings/profits/EPS?

The company aims to surpass its historic sales figures set in FY'24, targeting higher booking numbers in FY'25 and FY'26 with new project launches including Eldeco Trinity and other land acquisitions in Lucknow. There is optimism about maintaining or improving EBITDA and PAT margins, with margins historically higher than industry averages; a sustainable margin around 30% is expected. Average realization per square foot is expected to maintain at around INR 5,500+, possibly increasing annually depending on product mix and market conditions. Revenue projection is cautiously optimistic; FY'24 rev

Current/ Expected Orderbook/ Pending Orders?

Eldeco Housing & Industries Limited has successfully acquired fresh land parcels in Lucknow after a period of constrained supply. Recently acquired 3 different locations in Lucknow, adding approximately INR 1,000 crores to their gross developable value over the next 3-4 years. Additional 5-6 deals are still in the pipeline, though not all may be finalized. The company is cautious about project selection, focusing on due diligence and financial feasibility before acquisition. No explicit numerical orderbook or pending order figures are provided, but the increase in developable land indicates a

Eldeco HousingQ4 FY24Realty

Eldeco Housing Q4 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹782P/E: 20.8Market Cap: ₹753 CrSector: Realty

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 2

The company aims to surpass the historic sales figures of FY'24, which recorded the highest-ever area booked (7.8 lakh sq ft) and booking value (INR 388 crores).
With 3 new land acquisitions in Lucknow (~60 acres) and the upcoming launch of the luxury project Eldeco Trinity in FY'25, they expect increased sales.
Approvals for new projects will influence revenue growth; the target is to launch at least two of the three new acquisitions in FY'25.
Conservative guidance provided; expecting topping or exceeding FY'24 booking numbers but cautious on exact revenue targets.
The market demand in Lucknow is strong and currently supply-constrained, indicating room for growth if more inventory is launched.
Revenue and bookings are expected to grow, supported by a strong pipeline and increased realizations (~INR 5,500 per sq ft as new normal).

Margin guidance

Category 3

The company aims to surpass its historic sales figures set in FY'24, targeting higher booking numbers in FY'25 and FY'26 with new project launches including Eldeco Trinity and other land acquisitions in Lucknow.
There is optimism about maintaining or improving EBITDA and PAT margins, with margins historically higher than industry averages; a sustainable margin around 30% is expected.
Average realization per square foot is expected to maintain at around INR 5,500+, possibly increasing annually depending on product mix and market conditions.
Revenue projection is cautiously optimistic; FY'24 revenue stood at INR 112.7 crores, with an aspirational goal to exceed this in the current fiscal year through timely approvals and launches.
The company remains conservative in guidance, focusing on achieving steady growth rather than aggressive forecasts.

See what Eldeco Housing management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

- Eldeco Housing & Industries Limited has taken loans for the first time recently in FY24 to fund new land acquisitions. - The company has been historically self-funded with minimal external capital raised since its IPO in 1985. - For FY25, there is no explicit mention of plans for additional debt or equity fundraising in the provided transcript. - The management emphasizes a conservative approach and prefers not to raise capital unless necessary. - They focus primarily on executing the current strong project pipeline in Lucknow without changing capital structure just for the sake of it. - Any future capital raising event, including bonuses or other forms, will be communicated when considered by the Board. In summary, while debt has been taken recently for land acquisition, there are no announced plans for further fundraising through debt or equity at this time.

Order book

Yes

Eldeco Housing & Industries Limited has successfully acquired fresh land parcels in Lucknow after a period of constrained supply.
Recently acquired 3 different locations in Lucknow, adding approximately INR 1,000 crores to their gross developable value over the next 3-4 years.
Additional 5-6 deals are still in the pipeline, though not all may be finalized.
The company is cautious about project selection, focusing on due diligence and financial feasibility before acquisition.
No explicit numerical orderbook or pending order figures are provided, but the increase in developable land indicates a strong potential project pipeline.
The company aims to surpass previous booking records, with a focus on launching 2 to 3 of the new acquisitions within FY'25.
With these acquisitions and existing projects like Trinity and Latitude 27, Eldeco expects growth in bookings and revenues moving forward.

See what Eldeco Housing management said on order book — free account, 30 seconds.

Capex plans

Yes

Eldeco Housing has been actively acquiring land, especially in Lucknow, over the past few years, with definitive agreements and title takeovers completed in FY'24.
They completed 3 major land acquisitions totaling about 60 acres, adding approximately INR 1,000 crores to their gross developable value over the next 3-4 years.
There are 5-6 more land acquisition deals in the pipeline; the company will proceed only with those meeting due diligence, feasibility, and financial criteria.
New launches like Trinity and Latitude 27 are planned, with approvals in progress.
The company is cautious about capital deployment, prioritizing feasibility and compliance.
Current loans have been taken primarily for land acquisition, marking a strategic shift from previous self-funding.
No immediate plans for capital investments outside of Lucknow; focus remains on deepening presence in Lucknow unless pipeline constraints necessitate expansion.

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