Guardians Real Estate Advisory Revenue Jumps More Than Twofold
Property brokerage firm Guardians Real Estate Advisory revenue has jumped more than twofold at Rs 65.35 crore during April-December period of this fiscal, helped by better sales in Mumbai market on stamp duty reduction by the Maharashtra government.
The company had posted a revenue of Rs 26.57 crore in the year-ago period. The Mumbai-based firm expects revenue to reach around Rs 115 crore in 2020-21 as against Rs 40 crore in the last fiscal year.The company has achieved highest ever year-on-year revenue growth of 146 per cent, at Rs 65.35 crore for the first three quarters of the ongoing fiscal year. The company has facilitated sales of 2,113 homes and 117 offices with a cumulative value of Rs 3,687 crore during the first nine months of 2020-21 fiscal year. It hopes to sell properties worth Rs 6,000 crore during 2020-21 from Rs 2,378 crore in the last fiscal.
For the current quarter, the company has a pipeline of 11 residential and 2 commercial projects with a cumulative sales value of Rs 3,150 crore and it is targeting to sell a minimum of 75-80 per cent of inventory at these projects. While ready-to-move-in luxury homes were doing well in the period between June-September, the demand grew drastically across all residential segments in Q3. In 2021, the company expects the affordable housing segment to bounce back to the pre-Covid-19 levels.