Kolkata, June 2022: In an endeavour to leave behind the Covid-19 induced economic slowdown and forge ahead, Emami Realty, the leading real estate arm of the diversified business conglomerate, Emami Group plans to monetize its old land banks by launching new projects and expanding running projects. Despite slowdown, Emami Realty, including Joint Ventures, achieved sales of Rs.950 cr, with a growth of 85 % YoY in FY 21-22.
The operating inflows during the year stood at Rs 450 crore including Joint Ventures. The company sold 1.9 m.sft. across projects, pan India.
The Operating debt reduced by Rs 164 crore from Rs 282 crore to Rs 118 crore through internal cash accruals.
Last year the company launched two projects worth nearly Rs 700 crore,
Emami Realty has ambitious plans to become more aggressive by launching new projects, targeting a minimum 15% topline growth . By the end of the current financial year, the company expects to achieve sales of Rs.500 crores.. During the current financial year, the company also plans to launch new projects worth ~ Rs.1000 Crore. .
“We are recognised for the superior quality of our projects and timely deliveries., The reputation thus has been earned over the years by our consistent performance and ability to keep our promise to our customers, which translated into phenomenal results. We are bullish about growth prospects in Kolkata, driven by infrastructure development and policy incentives by the Government of Bengal. Said Dr Nitesh Kumar, MD & CEO – Emami Realty.”
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