THE GUARDIANS REAL ESTATE ADVISORY’S REVENUE JUMPS TWO FOLD TO RS.65.35 CRORES, TARGETS OVER RS.100 CRORE BY END OF FISCAL!
Leading, non-broking,real estate consulting firm, The Guardians Real Estate Advisory which solely focuses on the mandated broking business has posted its highest ever revenue growth of 146%, Y-o-Y, at Rs.65.35 crores for the first three quarters of FY21. The Mumbai based firm has reported sales of 2113 homes and 117 offices with a cumulative value of Rs.3687 crores across it’s mandated projects, in the same duration. A 114% growth in sales Y-o-Y, The Guardians Real Estate Advisory also witnessed a 29.5% growth in sales and a 118% growth in its revenue Q-o-Q.
The residential team of the firm booked sales of Rs.3511 crores between Apr-Dec 2020. The residential arm had previously locked revenue of Rs.19.66 crores and sales of Rs.1378 crores for the corresponding nine months of FY19-20.
Speaking on the occasion Mr. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory said, “We have successfully transformed ourselves from being an entity that was primarily known for its work in the mid-income housing segment to an unrivalled player in the luxury home segment, too. Over the past 9 months, 48% of our sales and corresponding income has come from homes that cost upwards of Rs.2 crores. The temporary reduction in stamp duty charges in the MMR has helped us improve our turnaround time. At a luxury residential project with a minimum buy-in price of Rs.3 crores, called BeauMonte, developed by Sheth Creators and located in the SoBo-Central region of Mumbai, we have been able to lock sales worth Rs.328 crores within a fortnight.”
For the last quarter of FY21, The Guardians Real Estate Advisory has a pipeline of 11 residential and 2 commercial projects with a cumulative sales value of Rs.3150 crores. The firm intends to sell a minimum of 75-80% of inventory at these projects, as has more or less been the unrivalled and unchanged performance of the entity since it began operations in the year 2016. The firm has since its inception, followed a low cost remuneration structure with increased focus on incentives linked to sales. It is this approach that helped the firm break even from the very first year. With a sales forecast of Rs.2362-2520 crores for Q4, the firm is on its way to report an unprecedented growth of 154% Y-o-Y for Fiscal year 20-21.
Mr. Agarwal added, “Our commitment to sell 80% of all inventory that is opened-for-sale in the market, for a given project, differentiates us in the marketplace. It is this commitment and commensurate performance that has helped us retain 99% of our clientele.”
The commercial arm of the company has separately bagged projects worth Rs.1176 crores, which it intends to launch over the next 12 months. The commercial arm has managed sales of Rs. 175 crores over the past three quarters with receivable income of Rs.3.8 crores. The same in the corresponding period for FY20 was Rs. 342 crores and Rs.7.54 crores respectively.
The firm has successfully closed upwards of 80% sales at some of the luxury and mid-income projects it launched post the lockdown. This includes Sunteck Signia High, Sheth BeauMonte, Auris Serenity by Sheth-Transcon, 34 PARK ESTATE being developed by Chandak Group, Dynamix Avanya and Paradigm Antalya.
“While ready-to-move-in luxury homes were doing well in the period between Jun-Sep, the demand grew drastically across all residential segments in Q3. The same included the under-construction luxury homes segment too as a result of the reduction in stamp duty charges announced by the state government of Maharashtra, reversal of salary-cuts by organisations and reduction in lending rates by commercial banks. In the year 2021, we foresee the affordable housing segment bouncing back to the pre-Covid levels once the local train service is resumed in the Mumbai Metropolitan Region. This segment should cover-up for all the volumes that will be lost in the luxury residential segment going forward.” he added.
The firm plans to expand into regions like Pune and Bengaluru by the end of FY 22. The Guardians Real Estate Advisory that started with a team of just 6 people four years back currently employs 487 professionals in the MMR and consults many luxury projects across the length and breadth of the region. Its clientele includes the likes of The Wadhwa Group, Sunteck, Kanakia, Sheth Creators, Chandak Group, Avighna, MICL, etc. The advisory is known to offer end-to-end services to its clients, from product planning to final customer registrations.