Karda Constructions reports strong turnaround in Q3 as construction activities resume post-lockdown Posted On: 2021-01-20 00:26:21 (Time Zone: Arizona, USA) The renowned real estate developer Karda Constructions Limited has reported a strong growth momentum in new bookings (pre-sales) in the third quarter of the current financial year (Q3 FY20-21), indicating a turnaround in India's housing sector. The company reported a healthy 22.34% year-on-year (y-o-y) growth and 17.35% quarter-on-quarter (QoQ) growth in new bookings (pre-sales) in Q3 FY20-21, supported by its strong inventory build-up in ready-to-move-in and nearing-ready properties with the resumption of construction activities post-lockdown. Commenting on the company's performance, Mr. Naresh Karda, Chairman & Managing Director, Karda Constructions Ltd., said, "The pandemic has been an opportunity in disguise for the housing sector and Karda Constructions Ltd. The lockdown created a lot of negativity but people also realised the need and the impending security in owning one's own home. There was also an increase in demand for bigger homes due to the shift to the work-from-home (WFH) culture, which demanded people create separate office spaces in their homes. Since more people are exploring new business opportunities with uncertainty in jobs, this trend also augers well for us as our new launches in the pipeline have a substantial share of commercial space.