FY22Q2 concall
- Purchased land in Chennai (senior living; Mahindra World city) and Gurgaon (Ashiana Amarah)
- Will close another land transaction for senior living in Chennai in Q3FY22
- Pune: 1 senior living + 1 regular housing project
- Undertook price increases in all projects except normal housing in Bhiwadi. In Bhiwadi, undertook price increases in senior living projects. Expect to have price increases higher than cost increases going forward
- For next 18-24 months, have enough projects to maintain annual sales of 2mn sq.ft run rate
- Need higher number of projects in Jaipur to fulfill growth, land prices have increased significantly
- Approval generally takes 12-15 months from land transactions
- Launched Phase II of Ashiana Anmol (2.8 lakh sq.ft)
- FY22 sales will be lower than 2 mn sq.ft
Disclosure: Invested (position size here)