In an interview to CNBC-TV18, Nikhil Chaturvedi, managing director of Prozone says in terms of cash, the company is already in the black.
The company, he says, is launching two residential colonies in the coming quarters.
Below is the edited transcript of his interview to CNBC-TV18’s Ekta Batra and Gautam Broker.
Q: When exactly could you turn into the black with regards to the bottom-line for the company?
A: First of all, in terms of cash, we are already in the black. We have about Rs 11 crore of depreciation. In terms of cash flows, the cost allocated is for expenses incurred in the earlier year, towards construction. As a consequence we are showing negative, but in terms of cash flow, we are positive.
Secondly, we are also launching two residential colonies in the coming quarters. That should also start showing numbers. So, we are at an investment stage, right now, which is now getting converted into phases where we are able to capitalise on all the investments that we have made till now.
Q: There is a buzz on the street that the prominent investors have actually got into Prozone. What are you looking forward to say in the next six months or so? By how much do you think you can make in terms of cash flows for this company in the second half of this year and in FY14?
A: It is a little early to say. But our estimates is that in the two cities, where we are launching colonies, we believe that we should be in the ballpark range of being able to sell about 250 apartments. Our forward guidelines, for 2014, would be better given after this next quarter.