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Arvind SmartSpaces Results: Latest Quarterly Results & Analysis

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Arvind SmartSpaces Ltd. 28 Jul 2025 15:28 PM
Result PDF

Q1FY26 Quarterly Result Announced for Arvind SmartSpaces Ltd.

Realty company Arvind SmartSpaces announced Q1FY26 results

  • Bookings were at Rs 175 crore vs Rs 201 crore last year
  • Collections amounted to Rs 191 crore vs Rs 249 crore last year
  • Revenue from Operations grew by 37% YoY to Rs 102 crore vs. Rs 75 crore last year
  • Adj. EBITDA grew by 205% YoY to Rs 24.5 crore vs. Rs 8 crore last year
  • PAT grew by 159% YoY to Rs 12 crore as against Rs 5 crore last year
  • Net Debt (Interest bearing funds) at Rs (50) crore as on June 30, 2025 from Net debt of Rs 27 crore as on Mar 31, 2025. Net Debt (Interest-bearing funds) to Equity ratio stood at (0.08) as on June 30, 2025 as against 0.04 as on Mar 31, 2025
  • Net Operating Cash Flows of Rs 27 crore in Q1FY26

Kamal Singal, Managing Director, Arvind SmartSpaces said, "Our financial performance continues to remain strong, driven by strong execution. In Q1, revenue grew 37% YoY to Rs 102 crore, Adj. EBITDA improved 205% YoY to Rs 24.5 crore, and PAT increased 159% YoY to Rs 12 crore. Further, we continue to generate positive operational cash flows and balance sheet remains strong with Net Debt at Rs (50) crore.

On the business development front, we are actively evaluating several opportunities and are confident of maintaining a healthy addition run rate, in line with the performance seen over the past couple of years. We are on track to conclude the ongoing business plan of adding new projects with a cumulative topline potential of Rs 5,000 crore across Gujarat, Bengaluru and MMR.

We remain positive about the demand scenario we are witnessing in the sector. Relatively lower interest rates, supportive government policies, and rising disposable incomes continue to support homebuyer demand. Over the medium to long term, we believe the sector will witness further consolidation in favour of organised players, driven by stronger execution, rising capital intensity, and improving cash flows. This is an opportunity we are well prepared to capture, backed by our healthy balance sheet, growing brand equity, and disciplined approach to business development. Our strong launch pipeline for the year ahead makes us confident in our ability to deliver strong sales performance this year.”

Result PDF

Result PDF

Realty company Arvind SmartSpaces announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Bookings were at Rs 381 crore vs. Rs 323 crore last year, growth of 18% on a YoY basis
  • Collections remained flat at Rs 215 crore
  • Revenue from Operations grew by 39% YoY; Rs 163 crore vs. Rs 117 crore last year
  • Adj. EBITDA grew by 57% YoY; Rs 44.6 crore vs. Rs 28.5 crore last year
  • PAT grew by 12% YoY; Rs 21.8 crore as against Rs 19.5 crore last year
  • Net Debt (Interest bearing funds) at Rs 27 crore as on Mar 31, 2025 from Net debt of Rs (41) crore as on Mar 31, 2024. Net Debt (Interest-bearing funds) to Equity ratio stood at 0.04 as on Mar 31, 2025 as against (0.10) as on Mar 31, 2024
  • Signed a residential plotted development project in Ahmedabad, with a total estimated area of ~150 acre and a top-line potential of ~Rs 600 crore. This project is located in Sanand-Nalsarovar road, Ahmedabad. The projectis acquired on an outright basis

FY25 Financial Highlights:

  • Bookings grew by 15% YoY; Rs 1,271 crore vs. Rs 1,107 crore last year
  • Collections improved by 7%; Rs 942 crore vs Rs 876 crore last year
  • Revenue from Operations grew by 109% YoY; Rs 713 crore vs. Rs 341 crore last year
  • Adj. EBITDA grew by 130% YoY; Rs 196.2 crore vs. Rs 85.4 crore last year
  • PAT grew by 133% YoY; Rs 119.2 crore as against Rs 51.1 crore last year
  • During the year acquired new projects with a topline potential of Rs 4,450 crore - added projects across Ahmedabad, Bengaluru and Mumbai Metropolitan Region (MMR).

Commenting on the Q4 & FY25 performance, Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said, "FY25 has been another landmark year for us, with several key milestones achieved across bookings, collections, and business development. We are happy to report our highest ever annual bookings at Rs 1,271 crore, marking a 15% growth year-on-year. It’s encouraging to see how well our projects are received by homebuyers, especially in newer micro-markets. Projects like Aquacity and The Park have performed exceptionally well, contributing 67% to the total booking value for the year. Bengaluru continues to be a key growth driver, contributing Rs 474 crore, 37% of our annual bookings.

On the business development front, we had another strong year of project additions. We made a grand entry into theMMR region with a 92-acre horizontal project having a topline potential of Rs 1,500 crore. We also added new projects in Ahmedabad and Bengaluru, bringing the total topline potential of projects signed during the year to ~Rs 4,450 crore.

Collections for FY25 increased 7% YoY to Rs 942 crore, our highest ever. This was supported by timely sales, swift registrations, and steady construction and deliveries. Further, the size of our P&L has grown substantially as FY25 PAT increased 133% YoY to Rs 119 crore. Strong collections and profitability resulted in net operating cash flows of Rs 337 crore in FY25.

Our focus on creating long-term value for our shareholders continues. We are happy to inform that the Board of Directors have recommended a final dividend of Rs 6/- per equity share of face value of Rs 10/- each.

The sector is poised in the midst of a long-term upcycle, with structural drivers outweighing short-term fluctuations. Branded developers with strong Balance Sheets and introducing the right product to the right micro market will stand to benefit. We continue to remain optimistic about the demand environment and are well positioned to further deepen our presence in the key markets of Ahmedabad, Bengaluru and MMR. The company is optimistic that its strategic blueprint drawn around accelerated growth and enhanced liquidity will deliver strong outcomesin the coming year. “

Result PDF

Realty company Arvind SmartSpaces announced Q3FY25 results

  • Bookings were at Rs 224 crore vs. Rs 280 crore Q3FY24.
  • Collections improved by 18%; Rs 229 crore vs Rs 194 crore Q3FY24.
  • Revenue from Operations grew by 149% YoY; Rs 210 crore vs. Rs 84 crore Q3FY24.
  • Adj. EBITDA grew by 188% YoY; Rs 60 crore vs. Rs 21 crore Q3FY24.
  • PAT grew by 331% YoY; Rs 50 crore as against Rs 12 crore Q3FY24.
  • Net Debt (Interest bearing funds) decreased to Rs (196) crore as on Dec 31, 2024 from Net debt of Rs (195) crore as on Sept 30, 2024. Net Debt (Interest-bearing funds) to Equity ratio stood at (0.34) as on Dec 31, 2024 as against (0.37) as on Sep 30, 2024.

Kamal Singal, Managing Director and CEO, Arvind SmartSpaces, said: “Our 9M performance, has been best ever in terms of bookings and collections. Our operations cycle remains strong with operating cash flows of Rs 277 crore during the nine months. Further, the size and scale of P&L is catching up with our operational performance, with PAT of Rs 97 crore during 9MFY25.

Recently, we entered MMR with a ~Rs 1,500 crore horizontal multi-asset township project, marking a significant milestone in our growth journey. Entering MMR reinforces our strategy of balanced geographic diversification across Gujarat, Karnataka and Maharashtra. We also added a new industrial park project in Ahmedabad with a top-line potential of ~Rs 1,350 crore. This Joint development project on NH47, Bavla-Bagodara Road is envisaged to be one of the largest industrial parks in Gujarat. Our business development pipeline remains robust with a cumulative topline potential exceeding Rs 3,850 crore for the current year to date.

Demand momentum for branded developers remains robust. Strong growth in collections alongside sales and disciplined project additions has led to an excellent balance sheet for ASL. This positions us well to deepen our market share in our target geographies and create long-term value for all stakeholders.”

Result PDF

Realty company Arvind SmartSpaces announced H1FY25 & Q2FY25 results

  • Highest Ever Quarterly Bookings Value of Rs 464 crore; YoY growth of 26%.
  • Highest Ever Half Yearly Bookings Value Rs 666 crore; YoY growth of 32%.
  • Highest Ever Half Yearly Collections of Rs 497 crore; YoY growth of 6%.
  • Net Operating Cash Flows of Rs 106 crore in Q2FY25.
  • Net Debt remains negative, at Rs (195) crore as on Q2FY25.
  • Signed a new high-rise project at ITPL Road, Bengaluru with a topline potential of ~Rs 600 crore.
  • H1FY25 Revenue increased 144% YoY to Rs 340 crore.
  • H1FY25 PAT increased 137% YoY to Rs 47 crore.
  • Q2FY25 Revenue increased 265% YoY to Rs 266 crore.
  • Q2FY25 PAT increased 293% YoY to Rs 43 crore.

Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said: “We are delighted to share that the Company has recorded the highest ever quarterly bookings. For the first time, we have crossed the Rs 400 crore milestone for quarterly bookings. Our half yearly performance, has also been best ever in terms of bookings and collections. Our operations cycle remains strong with operating cash flows of Rs 106 crore during the quarter and Rs 203 crore during the half year.

We had a new launch Aqua City in Kalyangadh, South Ahmedabad towards the end of quarter, which received a landmark response. Arvind Aqua City has achieved bookings of more than Rs 500 crore at the launch. It is heartening to see all our new launches over the last several quarters in several different micro markets have created bookings milestones.

Recently, we added a high-rise project with a topline potential of Rs 600 crore at ITPL road, Bengaluru. This further strengthens our vertical development portfolio in one of India's largest residential real estate markets. With this acquisition, the cumulative new business development topline potential stands at more than ~Rs 1,010 crore for the current year to date.

The optimism in residential real estate, especially mid income and premium segment remains strong. We are progressing well to end the year on a strong note, driven by a solid pipeline of launches and business development in the upcoming quarters”

Result PDF

Realty company Arvind SmartSpaces announced Q1FY25 results:

  • Bookings grew by 49% YoY; Rs 201 crore vs. Rs 135 crore last year
  • Collections increased by 21% YoY at Rs 248 crore vs Rs 204 crore last year
  • Revenue from Operations grew by 11% YoY; Rs 75 crore vs. Rs 67 crore last year
  • Adj. EBITDA amounted to Rs 8 crore vs. Rs 16 crore last year
  • PAT amounted to Rs 5 crore as against Rs 9 crore last year
  • Net Debt decreased to Rs (58) crore as on June 30, 2024 from Net debt of Rs (41) crore as on Mar 31, 2024.
  • Net Debt to Equity ratio stood at (0.12) as on Jun 30, 2024 as against (0.08) as on Mar 31, 2024
  • The cumulative new business development topline potential stands at ~Rs 410 crore in Q1 FY25
  • Remainder phase of Forest Trails Sarjapur, Bengaluru to be developed as a high-rise project comprising a saleable area of 3.2 lakh sq ft. Top line potential increased by of ~Rs 205 crore
  • Acquired additional 42 acres at Uplands 2.0 & 3.0. This will add Rs 205 crore to the top line

Commenting on the Q1FY25 performance, Kamal Singal, Managing Director and CEO, Arvind SmartSpaces commented, "We have started the year on a healthy note with progress in bookings, collections and business development, setting a positive trajectory for the year ahead. Q1FY25, Bookings improved by 49% YoY to Rs 201 crore and Collections improved by 21% to Rs 248 crore. Our operations cycle remains strong with net operating cash flows of Rs 97 crore during the quarter. During the quarter, we added a combined topline of Rs 410 crore across two of our existing projects namely Forest Trails and Uplands 2.0 & 3.0.

We believe the overall residential markets remain quite healthy given cyclically low inventory levels and healthy affordability. The remainder of the year should witness a strong uptick in our performance with a robust launch and business development pipeline for the upcoming quarters.”

Result PDF

Realty company Arvind SmartSpaces announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Bookings grew by 32% YoY; Rs 323 crore vs. Rs 244 crore last year
  • Collections increased by 14% YoY at Rs 215 crore vs Rs 188 crore last year
  • Revenue from Operations grew by 27% YoY; Rs 117 crore vs. Rs 93 crore last year
  • Adj. EBITDA grew by 38% YoY; Rs 28.6 crore vs. Rs 20.7 crore last year
  • PAT grew by 67% YoY; Rs 15.5 crore as against Rs 9.3 crore last year
  • Net Debt (Interest bearing funds) decreased to Rs (41) crore as on Mar 31, 2024 from Net debt of Rs (30) crore as on Mar 31, 2023. Net Debt (Interest-bearing funds) to Equity ratio stood at (0.10) as on Mar 31, 2024 as against (0.07) as on Mar 31, 2023
  • Arvind Orchards, Bengaluru launched during Q1 witnessed bookings of Rs 163 crore - booked entire released inventory for sale within 7 houRs
  • Towards end of Q4 Launched Rhythm of Life, Laxmanpura achieving sales of over Rs 70 crore, which is ~75% of the launched inventory

FY24 Financial Highlights:

  • Bookings grew by 38% YoY; Rs 1,107 crore vs. Rs 802 crore last year
  • Collections improved by 46%; Rs 876 crore vs Rs 600 crore last year
  • Revenue from Operations grew by 33% YoY; Rs 341 crore vs. Rs 256 crore last year
  • Adj. EBITDA grew by 57% YoY; Rs 85.5 crore vs. Rs 54.5 crore last year
  • PAT grew by 62% YoY; Rs 41.6 crore as against Rs 25.6 crore last year
  • During the year acquired new projects with a topline potential of Rs 4,150 crore - added four new projects in Ahmedabad, and one each in Bengaluru and Surat

Commenting on the Q4 & FY24 performance, Kamal Singal, MD and CEO, Arvind SmartSpaces said, “We are pleased to share that FY24 has been a landmark year of the Company with milestones achieved across bookings, collections, and business development. The company has recorded the highest-ever annual bookings of Rs 1,107 crore, a growth of 38% YoY. Brand Arvind continues to be received strongly by homebuyers across newer micro markets. Our new launches including Uplands 2.0 & 3.0, Forest Trails, Arvind Orchards, and Rhythm Of Life, contributed ~70% of our booking value for FY24. Our Bangalore presence remains strong with bookings of Rs 420 crore contributing 38% to the total annual bookings.

FY24 marked an orbital change in our Business Development efforts and we acquired new projects with an expected topline of ~Rs 4,150 crore as against Rs 930 crore in FY23. We have added four new projects in Ahmedabad, and one each in Bengaluru and Surat. We look forward to sustaining this momentum in the coming year as well.

FY24 Collections at Rs 876 crore, a growth of 46% YoY were the highest ever in the Company’s history, a result of efficient execution of the virtuous process of sales, registrations, construction, and deliveries. Strong collections and profitability resulted in net operating cash flows of Rs 458 crore in FY24. Despite increased investments in Business Development activities, our Net Debt remained negative at Rs (41) crore, on account of significant internal accruals.

As a company, the focus always remains on shareholder value creation. We are happy to inform that the Board of Directors has recommended a final dividend of Rs 2.5/- per equity share and a special dividend of Rs 1/- per equity share, totalling to a dividend of Rs 3.5/- per equity share of face value of Rs 10/- each.

With an all-time low inventory overhang and a decade-high average pricing growth, demand optimism in the residential markets is likely to continue in the medium term. We are set to further deepen our presence in Gujarat, Bengaluru, and Maharashtra.”

Result PDF

Realty company Arvind SmartSpaces announced Q1FY24 results:

  • Added two new horizontal multi-asset township projects in Ahmedabad spread over ~704 acres with a top-line potential of ~Rs 2,300 crore
    • Signed Joint Development project of ~500 acres in South Ahmedabad with a revenue potential of ~Rs 1,450 crore
    • Signed another Joint Development project of ~204 acres in South Ahmedabad with a revenue potential of ~Rs 850 crore
  • Executed an agreement under the Development Management (DM) model to develop 16 acre township at Moti Bhoyan with a potential of Rs 116 crore
  • Bookings grew by 14%YoY; Rs 135 crore vs. Rs 118 crore in Q1FY23
  • Collections increased by 54% YoY, Rs 204 crore vs Rs 133 crore in Q1FY23
  • Revenue from Operations, grew 11%; Rs 67 crore vs. Rs 60 crore in Q1FY23
  • Adj EBITDA improved 19%; Rs 16 crore vs. Rs 14 crore in Q1FY23
  • PAT increased 11% to Rs 8 crore as against Rs 7 crore in Q1FY23
  • Net Debt (Interest bearing funds) decreased to Rs (87) crore as on June 30, 2023 from Net debt of Rs (30) crore as on March 31, 2023. Net Debt (Interest-bearing funds) to Equity ratio stood at (0.18) as on Jun 30, 2023 as against (0.07) as on Mar 31, 2023.

Commenting on the Q1FY24 performance, Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said, “We started the year on an exciting note with traction in business development, bookings and collections. Q1FY24 was the third successive quarter with best ever collections, Q1FY24 crossed the Rs 200 crore milestone. Bookings remained healthy, driven by robust sustenance sales across our markets. Our operations cycle remains strong with operating cash flows of Rs 111 crore during the quarter.

Our business development program has picked up intensity with addition of ~Rs 2,400 crore of potential topline in the last month. We have added two projects in South Ahmedabad with ~704 acres and combined estimated revenue of Rs 2,300 crore. Both the projects are signed under the joint development model enabling low capital intensity and higher returns. We have also signed a DM project, which results in a topline addition of Rs 116 crore.

While the industry demand supply remains healthy, consolidation and corporatization continue to improve prospects of branded players. We have the balance sheet, brand, geographical presence, product mix, capital allocation strategies and operational excellence to thrive and continue to grow profitably. We look forward to scale up strongly during the remainder of the year with newerlaunches and project additions across Ahmedabad, Bangalore, Pune and MMR.”

 

 

Result PDF

Realty company Arvind SmartSpaces announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Bookings grew by 63% YoY; Rs 244 crore vs Rs 150 crore in Q4FY22
    • Collections increased by 17% YoY, Rs 188 crore vs Rs 160 crore in Q4FY22
    • Revenue from Operations stood at Rs 93 crore vs Rs 161 crore in Q4FY22
    • EBITDA stood at Rs 20 crore vs Rs 22 crore in Q4FY22
    • PAT amounted to Rs 9 crore as against Rs 14 crore in Q4FY22
    • Arvind Greatlands Phase 2 launched on March 26, 2023 received a remarkable response. Witnessed bookings of Rs 100 crore (the entire launched inventory) within 7 hours.
    • Added ~7 acres to the Doddaballapur Road, project. The size of the project has increased to 41 acres with a topline of ~Rs 388 crore. This project is under HDFC Platform 2. This is ASL’s 9th project in Bangalore. There is a potential opportunity to increase the size of the project significantly by 1.7X subject to technical due diligence.
    • Added ~2 acres to the Sarjapura project. The size of the project has increased to 19 acres with a topline of ~Rs 670 crore.
  • FY23:
    • Bookings grew by 33% YoY; Rs 802 crore vs. Rs 601 crore in FY22
    • Collections increased by 1% YoY, Rs 600 crore vs Rs 595 crore in FY22
    • Revenue from Operations stood at Rs 256 crore vs. Rs 257 crore in FY22
    • EBITDA amounted to Rs 49 crore vs. Rs 49 crore in FY22
    • PAT grew by 2% YoY, Rs 26 crore as against Rs 25 crore in FY22
    • Net Interest-bearing funds as on Mar 31, 2023 is Rs -30 crore (vs Mar 31, 2022 Rs -107 crore) increased by Rs 77 crore during the year due to increased business development. Net Debt (Interest-bearing funds) to Equity ratio at (0.07) as on Mar 31, 2023 vs (0.26) on Mar 31, 2022.
    • Acquired new projects with an expected topline of ~Rs 930 crore during the year
      • Added 60 acres with a topline of Rs 600 crore in Bangalore - Doddaballapur Road, North Bangalore and Sarjapura
      • Added 125 acres with a topline of Rs 330 crore in Ahmedabad – Fruits of Life and South Ahmedabad
    • Launched three projects successfully during FY23 including Arvind Greatlands, Fruits of Life and Forreste 5 which contributed 56% of booking value for FY23

Commenting on the Q4 & FY23 performance, Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said, “We are delighted to inform that the company has recorded the highest ever annual bookings of Rs 802 crore, a growth of 33% over FY22. For the first time, number of units sold crossed 1,100 units milestone annually. Brand Arvind continues to resonate strongly with homebuyers across Ahmedabad and Bangalore markets. This is evident from the stellar performance of our new launches including Fruits of Life, Forreste V and Greatlands, which contributed 56% of our booking value for FY23. From a quarterly perspective, we had the strongest ever Q4 bookings at Rs 244 crore, second consecutive quarter with Sales Value of over Rs 200 crore.

Our Bangalore presence has strengthened further, reporting our highest ever sales value at Rs 463 crore in FY23, up 228% YoY, contributing 58% to the total annual bookings. Both the phases of Greatlands have received overwhelming response from customers. Bangalore region is shaping up well, and we expect it to get stronger in the coming years with increased launches and business development activities.

Both FY23 and Q4 Collections were the highest ever in the company’s history, a result of efficient execution of the virtuous process of focus on sales, registrations, construction and deliveries. Strong collections and profitability resulted in operating cash flows of more than Rs 200 crore. Despite increased investments in Business Development activities our Net Debt remained negative at Rs (30) crore, on account of significant internal accruals.

As a company, the focus always remains on shareholder value croreeation. We are happy to share the Board of Directors recommended a final dividend of Rs 1.65/- per equity share and one-time special dividend of Rs 1.65/- per equity share, totalling to a dividend of Rs 3.30/- per equity share of face value of Rs 10/- each.

The momentum in the Indian housing market continued with rise in residential sales, decline in inventory levels and appreciation in capital values across major cities. Going forward, we are set to expand our portfolio of projects with several launches lined up across a range of micro markets in Ahmedabad and Bengaluru. Our investment program of Rs 1,000 crore is very much on track and we look forward towards its deployment in business development activities in the coming quarters. FY24 is expected to be year of new launches, project additions and bigger milestones for ASL, we are set to scale up faster while maintaining our financial discipline.”

 

 

Result PDF

Realty firm Arvind SmartSpaces announced Q3FY23 results:

  • 9MFY23:
    • Bookings grew by 24%YoY; Rs 558 crore vs Rs 451 crore last year
    • Collections stood at Rs 412 crore vs Rs 434 crore last year
    • Revenue from operations grew by 71% YoY; Rs 163 crore vs Rs 96 crore last year
    • EBITDA grew by 6% YoY; Rs 29 crore vs Rs 27 crore last year
    • PAT grew by 47% YoY; Rs 16 crore as against Rs 11 crore last year
  • Q3FY23:
    • Bookings grew by 58% YoY; Rs 250 crore vs. Rs 158 crore last year
    • Collections increased by 8% YoY at Rs 167 crore vs Rs 154 crore last year
    • Revenue from operations grew by 23% YoY; Rs 53 crore vs Rs 43 crore last year
    • EBITDA stood at Rs 9 crore vs Rs 12 crore last year
    • PAT stood at Rs 4 crore as against Rs 6 crore last year
    • Net interest-bearing funds as of Q3FY23 is Rs -34 crore (vs Q2FY23 Rs -11 crore) decreased by Rs 23 crore during Q3 primarily due to higher internal accruals. Net debt (interest-bearing funds) to equity ratio at (0.08) as of Q3FY23 vs (0.03) in Q2FY23.
    • Added ~7 acres to the Doddaballapur Road, project. The size of the project has increased to 34 acres with a topline of ~Rs 315 crore. This project is under HDFC Platform 2. This is ASL’s 9th project in Bangalore. There is a potential opportunity to increase the size of the project significantly by 2X subject to technical due diligence.
    • Commenced a large aggregation in South Ahmedabad of which 84 acres have been completed to date with an estimated topline of Rs 150 crore. This would be wholly owned by Arvind SmartSpaces. There is potential to increase the size by 2-3X subject to technical due diligence.
    • Launched one project during Q2FY23 - Arvind Greatlands launched on November 26, 2022, received a phenomenal response. Witnessed bookings of Rs 191 crores (the entire launched inventory) within 10 hours collections of Rs 20 crore from Greatlands during Q3FY23

Commenting on the Q3 & 9M FY23 performance, Mr. Kamal Singal, Managing Director and CEO, Arvind SmartSpaces commented, “We have achieved significant operational milestones in Q3 FY23. It has been our best-ever quarter in terms of both booking value and collections. This highlights a strong operations cycle of new sales, construction and delivery. Our robust sales machinery and brand equity is getting increasing recognition across Ahmedabad and Bengaluru with launches continuing to perform well in newer micro markets.

We have put in concerted efforts to strengthen our Bangalore operations and are happy with the way our Bangalore story is shaping up. During the quarter, we launched Arvind Greatlands at Devanahalli, Bangalore which received a phenomenal response with almost the entire launched inventory sold within 10 hours. We added a new residential plotted development in South Ahmedabad, which is our 16th project in the region. Despite increased investments in Business Development activities, our net debt decreased further to Rs (34) crore on account of a significant increase in internal accruals

The real estate sector continues to showcase buoyancy with all parameters including sales, launches and prices appreciating across the top cities in CY22. We have built a strong and sustainable foundation of the company with a meaningful focus on design and execution, an efficient sales engine, rising brand salience and a healthy balance sheet. We remain committed to our growth initiatives and are geared up to capitalize on the consolidation and corporatisation of the industry. In the coming quarters, we look forward to building on our business development intensity in our core markets of Bengaluru, Ahmedabad, Pune and MMR to create long-term value for all our stakeholders.”

 

Result PDF

Realty company Arvind SmartSpaces announced Q2FY23 results:

  • Q2FY23 Bookings grew 3% YoY to Rs. 189 crore
  • Successfully launched Fruits of Life, Ahmedabad with launched inventory sold within 36 hours Acquired 2 additional new projects measuring 27 acres and 18 acres each in Bangalore with a cumulative potential topline of ~Rs. 400 crore
  • Q2FY23 Revenue increased 96% YoY to Rs. 50 crore
  • Q2FY23 PAT increased 79% YoY to Rs. 4.8 crore

Commenting on the Q2 & H1 FY23 performance, Mr. Kamal Singal, Managing Director and CEO, of Arvind SmartSpaces commented, “Q2FY23 has been an eventful quarter for the Company with traction across business development, launches and bookings. Bookings performance remained healthy despite a seasonally muted quarter, with momentum across sustenance as well as new launches.

During the quarter, two projects were launched in Ahmedabad, the first being Fruits of Life which witnessed an overwhelming response with the entire launched inventory of Rs. 90 crore sold within 36 hours. The acquisition to launch cycle in this project is noteworthy, just around three months. The second project was Forrester 5, which was launched towards the end of the quarter and witnessed healthy traction with higher price realizations.

We are happy to share the acquisition of our 9th and 10th projects in Bengaluru. Bengaluru is our second home market where Arvind group has significant operations and human capital. Over the years, Arvind SmartSpaces has leveraged the Group’s brand equity in Bengaluru and has built a meaningful presence.

We are excited about the progress of our partnership with HDFC. Within a short span of two months, we have already added two projects to our portfolio through this platform. The 27 acres project is the second acquisition under the newly created HDFC Platform II.

The real estate sector prospects remain strong with cohesive improvement in demand, supply and prices across markets. The housing cycle has remained positive, especially for organized players with an established track record of design and execution. We look forward to leveraging our brand and strong balance sheet to further expand the portfolio of projects in our focus markets of Bengaluru, Ahmedabad, Pune and MMR in line with our growth aspirations. The remainder of the year should witness an improvement in our performance across parameters and we expect to end the year on a strong note.”

Result PDF

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