Arihant Superstructures Ltd share Price Today

Realty company Arihant Superstructures announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• Revenue for Q4FY24 stands at Rs 1,617 million against Rs 1,192 million in Q3FY24, Up by 35% on QoQ basis
• EBITDA at Rs 362 million in Q4FY24 against Rs 263 million in Q3FY24, Up by 37% on QoQ basis
• Profit After Tax for (PAT) in Q4FY24 at Rs 219 million against Rs 155 million in Q3FY24, Up by 41% on QoQ basis

FY24 Financial Highlights:

• Revenue for FY24 stands at Rs 5,113 million against Rs 3,917 million in FY23, Up by 30% on YoY basis
• EBITDA at Rs 1,144 million in FY24 against Rs 798 million in FY23, Up by 43% on YoY basis
• Profit After Tax for (PAT) for FY24 at Rs 692 million against Rs 426 million in FY23, Up by 62% on YoY basis

Commenting on the Q4FY24 results, Ashok Chhajer, CMD, Arihant Superstructures said, “Our Business Development & Liaison teams have enabled us to acquire & receive approvals for multiple projects in FY24 which would be launched in various phases over the next 24 months:
1. World Villas in Premium housing segment at Chowk having GDV of Rs 9.5 billion
2. Arihant 7 Anaika in Affordable housing segment at Taloja having GDV of Rs 1.85 billion
3. Arihant Adarsh in Affordable housing segment at Taloja having GDV of Rs 2.7 billion
4. Arihant Avanti in Mid-Income housing segment at Shilphata having GDV of Rs 9 billion
5. Arihant Anmol in Affordable housing segment at Badlapur having GDV of Rs 0.50 billion
6. Arihant Aloki in Affordable housing segment in Karjat having GDV of Rs 0.52 billion
7. Arihant Aspire in Mid-Income housing segment at Panvel having GDV of Rs 3.5 billion

These above projects will enhance the GDV of the Company by Rs 27.57 billion to the Ongoing projects having GDV of Rs 60 billion, totaling the GDV of the Company to Rs 88 billion

The Business Development along with new acquisitions shall increase the land bank from 219 acres to 300 acres in FY24-25. The balance Sale value of projects stands at Rs 88 billion & shall increase continuously with new acquisitions

Going forward, the Product Sales mix should support a 30% CAGR across all parameters We expect a Revenue breakup as follows:

• 35% of Total sales in Affordable housing segment
• 35% of Total sales in Mid-Income housing segment
• 30% of Total sales in Premium housing segment

The company continues to focus on brand positioning & skill up gradation of the work force as its top priority.” 

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