Eastern Housing Plot Sales Increased by 7%

Industry: Housing, Real Estate, Stock Market
Company: Eastern Housing Limited
Company Intelligence Tag: Business Insights

Eastern Housing Limited experienced a notable 7% rise in plot sales, generating Tk94.80 crore in the first half of FY 2023–24, compared to Tk88.96 crore in the same period FY 2022–23. However, flat sales witnessed a significant decline, dropping over 25% to Tk9.34 crore during Q1 FY24. The company reported a total revenue of Tk104 crore and a net profit of Tk30 crore, showing a slight increase from the corresponding period in 2023.

Despite the positive financial results, Eastern Housing faced a net operating cash crisis, primarily due to challenges in plot sales collections linked to registration procedures. As the sole listed firm in the real estate sector, the company’s stock marked a 1.76% increase, closing at Tk98.20 on the Dhaka Stock Exchange.

 

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