Hindustan Housing Company Reports Q3 FY25 Financial Results, Appoints New Chairman

Mumbai, India – January 29, 2025 – The Hindustan Housing Company Limited (BSE: 509650) has announced its unaudited financial results for the third quarter (Q3) and nine-month period ended December 31, 2024, showcasing stable revenue performance despite economic fluctuations. The company also confirmed a significant leadership change, with Mr. Mahendra Gohel appointed as the new Chairman, succeeding Mr. Vinod Nevatia, who will retire on February 4, 2025.

Financial Highlights: Q3 FY25 Performance​

For the quarter ending December 31, 2024, the company reported:

• Revenue from operations: ₹145.35 crore, slightly down by 4.27% YoY (from ₹151.84 crore in Q3 FY24).
• Total income: ₹178.08 crore, reflecting a 1.18% YoY increase compared to ₹175.99 crore in Q3 FY24.
• Employee benefits expense: ₹56.46 crore, down 2.92% YoY from ₹58.16 crore.
• Profit before tax (PBT): ₹69.85 crore, showing a 10.94% YoY increase (from ₹62.96 crore in Q3 FY24).
• Net profit: ₹60.53 crore, marking a 24.89% growth compared to ₹48.46 crore in Q3 FY24.
• Earnings per share (EPS): ₹250.12, up from ₹200.25 in Q3 FY24.

For the nine months ending December 31, 2024, the company recorded:

• Revenue from operations: ₹411.18 crore, down 6.49% YoY from ₹439.64 crore.
• Total revenue: ₹540.75 crore, representing a 5.21% decline from ₹570.42 crore in the previous year’s period.
• Net profit: ₹188.96 crore, marginally up from ₹188.71 crore in the same period last year.

Comprehensive Income and Market Performance​

The Other Comprehensive Income (OCI) for Q3 FY25 reflected a negative adjustment of ₹723.80 crore, primarily due to financial asset valuation fluctuations. However, for the nine months, OCI stood at ₹349.76 crore, indicating a positive growth trend compared to ₹1,086.62 crore in the same period last year.
The company’s total comprehensive quarterly income stood at ₹(663.27) crore, compared to ₹555.76 crore in Q3 FY24.

Leadership Transition: New Chairman Appointed​

The company announced a key leadership change in its Board of Directors:

• Appointment of Mahendra Gohel:
  • Effective February 1, 2025, for a five-year term until January 31, 2030, subject to shareholder approval.
  • Mr. Gohel, a Chartered Accountant with 39 years of experience, specializes in statutory, tax, internal, and management audits across corporate, banking, and public sector companies.
  • He currently serves as a Director at Bajaj Finserv Mutual Fund Trustee Ltd.
• Retirement of Vinod Nevatia:
  • After 10 years of service, Mr. Nevatia will step down as Independent Director and Chairman on February 4, 2025, upon completing his second consecutive term.
  • The Board unanimously elected Mr. Gohel as the new Chairman, effective February 5, 2025.

Outlook and Strategic Developments​

Despite a marginal revenue decline, the company maintained profitability, driven by cost optimization and financial prudence. With a stable EPS of ₹780.83 for the nine months, Hindustan Housing Company remains well-positioned in its sector.
The appointment of Mr. Mahendra Gohel as Chairman is expected to strengthen the company’s financial oversight and governance, reinforcing its long-term strategic vision.

Investor Considerations​

• Positive Factors:
  • Consistent profit growth despite revenue challenges.
  • Leadership transition to an experienced finance expert.
  • Strong focus on corporate governance and compliance.
• Risk Factors:
  • Decline in revenue from operations, which may impact long-term margins.
  • Significant OCI losses affecting comprehensive income.

As Hindustan Housing Company enters a new phase under Mr. Gohel’s leadership, investors will closely watch how the company navigates operational challenges while maintaining profitability and shareholder returns.