1,130 per cent jump in net profit: This multibagger real estate company reports stellar quarterly results (Q1FY24)!

The stock is up by 56 per cent in just 1 year and gave multibagger returns of over 250 per cent in 3 years.

Ganesh Housing Corporation Limited (earlier known as Ganesh Housing Finance Corporation Limited) is a part of the Ganesh Group founded in 1991, has announced its Quarterly Results ended June 30, 2023. Here are the details:

Consolidated Financial Performance Comparison - Q1FY24 vs Q1FY23

1. Revenue from Operations grew by 536.08 per cent from Rs 42.52 crore in Q1FY23 to Rs 270.45 crore in Q1FY24.
2. EBITDA skyrocketed by 764.70 per cent from Rs 25.09 crore in Q1FY23 to Rs 216.95 crore in Q1FY24. 
3. PAT skyrocketed by 1,130.34 per cent from Rs 13.11 crore in Q1FY23 to Rs 161.34 crore in Q1FY24.

Consolidated Financial Performance Comparison - FY23 vs FY22

1. Revenue from operations recorded a healthy growth of 60.67 per cent from Rs 383.61 crore in FY22 to Rs 616.35 crore in FY23.
2. EBITDA increased by 89.14 per cent from Rs 135.49 crore in FY22 to Rs 256.26 crore in FY23.
3. PAT increased by 41.70 per cent from Rs 70.63 crore in FY22 to Rs 100.08 crore in FY23.

GHCL has one of the largest developable land banks in the city, with more than 50 million sq. ft. of space, containing a possible development area of 100 million sq. ft. GHCL specializes in the residential sector, with a focus on the mid and higher-income segment of the market. It has entered the commercial, retail, and township formats of the industry.

On Thursday, shares of GHCL plunged 0.57 per cent to of Rs 470 per share from its previous closing of Rs 472.70. The shares of the company have a PE of 16.40x whereas the sectoral PE is 37.90x. The stock is up by 5 per cent in just 1 year and gave multibagger returns of over 250 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.