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REVENUES
9 Months Ended
Jan. 31, 2021
REVENUES  
REVENUES

(8)           REVENUES

Land sale revenues. Land sale revenues consist of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine months Ended

 

 

January 31,

 

January 31,

 

    

2021

    

2020

    

2021

    

2020

 

 

(in thousands)

 

(in thousands)

Land sale revenues - New Mexico

 

$

5,957

 

$

3,812

 

$

17,970

 

$

11,626

Land sale revenues - corporate

 

 

 —

 

 

665

 

 

 —

 

 

665

 

 

$

5,957

 

$

4,477

 

$

17,970

 

$

12,291

 

Substantially all of the land sale revenues in New Mexico were received from four customers for the nine months ended January 31, 2021 and January 31, 2020 and also for the three months ended January 31, 2021 and January 31, 2020. Corporate land sale revenues resulted from the sale of two undeveloped properties in Palm Coast, Florida during the three and nine months ended January 31, 2020.

Home sale revenues. Home sale revenues are from homes constructed and sold by the Company in the Albuquerque metropolitan area. Home sale revenues were received from six and seven customers during the three months and nine months ended January 31, 2021.

Rental revenues. Rental revenues consist of rent received from tenants at the Company’s warehouse and office buildings in Palm Coast, Florida and at a retail building in the Las Fuentes at Panorama Village subdivision in Rio Rancho, New Mexico. 

Other revenues.  Other revenues consist of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
January 31,

 

Nine months Ended
January 31,

 

 

2021

 

2020

 

2021

 

2020

 

 

(in thousands)

 

(in thousands)

Oil & gas royalties

 

$

46

    

$

499

    

$

82

    

$

499

Private infrastructure reimbursement covenants

 

 

84

 

 

 —

 

 

462

 

 

231

Public improvement district reimbursements

 

 

110

 

 

26

 

 

354

 

 

26

Miscellaneous other revenues

 

 

320

 

 

171

 

 

407

 

 

171

 

 

$

560

 

$

696

 

$

1,305

 

$

927

 

Refer to Note 9 to the consolidated financial statements contained in the 2020 Form 10-K for additional detail about each category of other revenues.

The Company owns certain minerals and mineral rights in and under approximately 55,000 surface acres of land in Sandoval County, New Mexico.  The lease to a third party with respect to such mineral rights expired in September 2020 and no drilling had commenced with respect to such mineral rights. The Company did not record any revenue in the nine months ended 2021 related to this lease.

Miscellaneous other revenues for the three and nine months ended January 31, 2021 primarily consist of payments for impact fee credits and for installation of telecommunications equipment in subdivisions. Miscellaneous other revenues for the three and nine months ended January 31, 2020 primarily consist of forfeited deposits and non-refundable option payments.