Ashiana Housing Targets Rs 2,000-Crore Pre-Sales In FY26

Ashiana Housing Ltd. has set a pre-sales target of Rs 2,000 crore in the current financial year, according to Varun Gupta, director of the real estate development company.

AHL is hopeful of a significant pre-sales value on the back of new project launches and the healthy gross development value, which is a key indicator for companies in the sector that reflects the expected value of a property upon its completion.

The GDV for all the company's projects, including those under construction, currently stands at around Rs 11,000 crore, Gupta told NDTV Profit. "For FY26, we have a target of Rs 2,000 crore. We are looking at secular price increases across the board," he said.

"Unfortunately, we have less stock to sell in Jaipur, which is one of our key markets. We faced regulatory challenges in onboarding some projects and we have had limited stock because we found the land prices in Jaipur to be very expensive," Gupta said.

The real estate developer is planning four new project launches in the fiscal, including one in Gurugram, two in Jaipur and one in Jamshedpur. These projects will have a combined GDV of Rs 3,000 crore.

"We will not launch everything. So probably, a quarter to a third of it will be launched. Depending on market conditions, probably a quarter of it will be launched this year," he said. 

The company has Rs 2,100 crore in receivables from booked sales, with most expected to be executed within 24 months and some extending to 36 months, as per the December update to investors. Gupta indicated that updated March figures, which are yet to be released, will show an increase in receivables.

Approval risks remain a concern, particularly for a larger project in Jaipur, where regulatory clearance is less certain. In contrast, projects in Jamshedpur and Gurugram are at the advanced stages of approval. A smaller project in Jaipur has already secured the Real Estate Regulatory Authority's approval.

In the last fiscal, the company reported pre-sales of Rs 1,937 crore, falling slightly short of its target of Rs 2,000 crore. Regulatory challenges in obtaining occupancy certificates caused delays in project deliveries. He cited Ashiana Anmol in Gurugram, where the OC was received in April instead of March.

Barring Gurugram, the company did not face any regulatory hurdles and launched all the projects it had planned for FY25, according to Gupta.