Ganesh Housing Corporation Limited — PPTs, 14-05-2025: Investor Presentation

1. Financial Highlights:

Revenue for Q4 declined 7% YoY to INR 2591 Mn, while FY revenue grew 11% YoY to INR 9935 Mn. EBITDA surged 47% in Q4 to INR 2243 Mn and rose 29% for the full year to INR 8130 Mn. EBITDA margins expanded sharply to 86.6% in the quarter from 54.4% a year ago, signaling improved operational efficiency. PAT grew 46% in Q4 to INR 1649 Mn and 30% for FY to INR 5981 Mn, with PAT margins increasing to 63.6%. The company remains net debt-free for around 3 years, reflecting a strong balance sheet and healthy cash flow generation.

2. Strategic Initiatives & Growth Drivers:

Focus on expanding commercial presence with "One Thaltej," a 1.8 msf commercial project in the pipeline. Million Minds Phase 1 IT SEZ (~1.3 msf) is targeted for completion by March 2026, fully funded through internal accruals, with expected annual rentals of ~INR 72 Cr. Residential projects like Malabar Retreat are progressing steadily, supporting a development pipeline of ~33 msf with planned sales exceeding INR 16,000 Cr.

3. Business Developments:

Ahead-of-schedule completion of Malabar Exotica and Malabar County 3 leveraged innovative precast construction, boosting delivery credibility. A strategic partnership with Tishman Speyer on the IT SEZ underscores global execution capabilities and brand strength. Development of Lalita Govind Udyan, an 8-acre premium green space near flagship projects, highlights focus on quality living environments.

4. Market Position & Competitive Advantage:

A top Ahmedabad-focused developer with ~500 acres prime land, Ganesh Housing benefits from deep local expertise, transparency, and strong execution. With 23 msf delivered and 11+ quarters net debt-free, its integrated township, IT SEZ, and commercial focus provide scale and diversification edge in Gujarat’s dynamic real estate sector.

5. Investor Implications:

Robust margin expansion, zero debt, and solid cash flow support positive growth outlook. Strategic emphasis on commercial and IT SEZ developments aligns with Ahmedabad’s rising real estate demand. Execution of large-scale projects and timely land bank monetization are key to watch. Proven delivery track record and technology adoption mitigate execution risks, fostering sustainable value for shareholders.