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Arvind SmartSpaces
Realty firm Arvind SmartSpaces Ltd has reported a five-fold jump in its consolidated net profit to Rs 47.73 crore for the quarter ended December 2024 on higher income. Its net profit stood at Rs 9.39 crore in the year-ago period. Total income jumped to Rs 215.47 crore in the third quarter of the current fiscal against Rs 86.42 crore in the corresponding period of the preceding year, according to a regulatory filing on Wednesday. The company has real estate developments across Ahmedabad, Gandhinagar, Bengaluru and Pune.
Realty firm Arvind SmartSpaces Ltd has entered into a joint development agreement to build a 92-acre township with an estimated revenue potential of Rs 1,500 crore. In a regulatory filing on Friday, the company said it has signed an agreement for a large horizontal, multiuse project in Mumbai Metropolitan Region (MMR), "with a total estimated area of 92-acre and a top-line potential of Rs 1,500 crore." The company has tied up with Sach Developers to build this township, located near Khopoli, Mumbai. The project is signed under a joint development model (70.5 per cent revenue share) enabling low capital intensity and higher returns. Kamal Singal, Managing Director and CEO, Arvind Smartspaces said, "We are happy to announce our entry into the Mumbai real estate market, marking a significant milestone in our growth journey. We are confident of the large opportunity the MMR plotted/villa market presents and look forward to bring our horizontal value proposition there." He said the ent
Realty firm Arvind SmartSpaces Ltd will jointly develop a housing project in Bengaluru with a revenue potential of Rs 600 crore. In a regulatory filing, the company said it "has signed a new residential apartment project in Bengaluru, with a total estimated saleable area of around 4.2 lakh square feet and a top-line potential of around Rs 600 crore." This project is located on ITPL road, near Whitefield, Bengaluru. The project is undertaken on a joint development basis. This would be the company's 12th overall and eighth high-rise project in Bengaluru. "Brand 'Arvind' continues to resonate strongly with homebuyers and landowners alike, as we look to further deepen our presence in the Bangalore market," Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, said. "With this project addition, our cumulative new business development topline potential for the year stands at Rs 1,010 crore," he added. Built on around 120-year-old legacy of the Lalbhai Group and established in
Realty firm Arvind SmartSpaces Ltd on Monday reported 67 per cent increase in net profit to Rs 15.49 crore for the quarter ended March on higher income. Its net profit stood at Rs 9.30 crore in the year-ago period. Total income rose to Rs 120.10 crore in the quarter from Rs 94.37 crore a year ago. During 2023-24 fiscal year, the company's net profit increased to Rs 41.57 crore from Rs 25.60 crore in the preceding year. Total income went up to Rs 350.87 crore from Rs 263.25 crore in 2022-23. On operational front, the company's sale bookings rose 38 per cent to Rs 1,107 crore in 2023-24 from Rs 802 crore in the previous year. "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 per cent year-on-year (YoY)," Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said. He said the company acquired new projects with
Realty firm Arvind SmartSpaces Ltd on Monday said it has sold over 220 units in a residential plotted development project in Bengaluru for more than Rs 160 crore. In a regulatory filing, the company informed that "it has sold out the entire inventory released for sale in the 1st phase of its residential plotted development project, Arvind Orchards in Devanahalli, Bengaluru, within 7 hours of launch." "It consisted of more than 220 units valued at over Rs 160 crore. The project is housed under HDFC Platform 2," the company said. Built on around 120-year old legacy of the Lalbhai Group, and established in 2008, Ahmedabad-based Arvind SmartSpaces is one of the leading real estate firms in the country.
Realty firm Arvind SmartSpaces Ltd on Friday reported a 33 per cent decline in its consolidated net profit at Rs 9.3 crore for the quarter ended March 2023. It had reported a net profit of Rs 13.95 crore in the year-ago period. The total income fell to Rs 94.37 crore in the fourth quarter of the last fiscal from Rs 163.62 crore in the year-ago period, according to a regulatory filing. Net profit rose to Rs 25.60 crore in 2022-23 from Rs 25.05 crore. The total income increased to Rs 263.25 crore last fiscal from Rs 264.42 crore in the preceding fiscal. On the operational performance, the company's sales bookings grew 33 per cent year-on-year to Rs 802 crore from Rs 601 crore.