BSE listed, Real Estate Giant, Karda Constructions Ltd., with Presence across all segments - Low, Medium and Premium, has achieved a turnover of Rs. 114.12 cr in FY20 as compared to a turnover of Rs. 105.30 cr in FY19, thereby achieving growth in turnover by 8.37% over the last Fiscal Year. The company has successfully delivered over 1 mn sq. ft. Carpet Area.
Naresh Karda, CMD
Karda Constructions Limited posted good income, sales volume and collections during FY20 despite challenges thrown by COVID-19 during last fortnight of the fourth quarter.
"Despite lockdown, disrupted demand outlook and complete washout of economic activities in the real estate sector, the company announced recently, that we were able to achieve 80% of sales turnover during Q4 FY20 as compared to Q4 FY19. Also, we have achieved turnover of Rs. 114.12 cr in FY20 as compared to a turnover of Rs. 105.30 cr in FY19, thereby achieved growth in turnover by 8.37% over the last Fiscal Year," said Mr. Naresh Karda, CMD.
"Demand has remained consistent where we operate in spite of uncertainties of the Pandemic. We continue to enjoy sufficient liquidity from banks/Fl to meet our obligations. With our continuous focus on efficient cash flow management, we were able to improve our Debt Equity Ratio to 0.96 for FY20 as compared to 1.36 for FY19 by reducing our net debt and average interest cost of borrowing," company said in its filing for exchanges.
The pandemic has opened a new era of selling real estate. Priorities of people have also changed, and they now have realized the importance of owning a home, especially the ones that can guarantee safety and security.
Hari Sanskruti Project
The company said that its focus would be on improvising the processes, adaptable approach in business, use of technology & online and digital platforms and cost optimization for better performance and for reaching out to the millennial that constitute the larger part of buyers.