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Ganesh Housing aims to repay debt in next 2-3 years
Jatin Parekh, CFO of Ganesh Housing, in an interview with CNBC-TV18’s Reema Tendulkar and Ekta Batra, spoke about the recent happening in his company and the road ahead.
Jatin Parekh, CFO of Ganesh Housing , in an interview with CNBC-TV18's Reema Tendulkar and Ekta Batra, spoke about the recent happening in his company and the road ahead.
Below is a verbatim transcript. Also watch the accompanying video.
Q: Your net sales have gone up quite substantially in this quarter. Can you take us through the key highlights in terms of your income growth?
A: Most of our schemes were booked, but we were booking the sales depending upon the progress made in the construction. In this quarter, there was a substantial progress in the construction. We were able to book almost Rs 57-58 crore worth of turnover and about Rs 27 crore worth of profit.
Q: Could you tell us about your interest cost which has gone up from Rs 3 crore to Rs 11 crore? What kind of debt is the company sitting on? What is the pressure that you are facing on account of financing charges?
A: As on today, the total debt of the company is around Rs 200 crore, which is less than 0.5% of our networth. The entire debt would be repaid over a period of next two-three years. We don't foresee any problem in repaying the interest or the principle amount.
