+
Arvind SmartSpaces Ltd's Q4 Net Profit Soars by 67%
Real Estate

Arvind SmartSpaces Ltd's Q4 Net Profit Soars by 67%

Realty firm Arvind SmartSpaces Ltd announced a significant surge in its net profit, marking a 67 per cent increase to Rs 15.49 crore for the quarter ended March, driven by a substantial rise in income. Compared to Rs 9.30 crore in the corresponding period last year, the company witnessed notable growth in profitability.

The company's total income also experienced an upward trajectory, reaching Rs 120.10 crore in the quarter, up from Rs 94.37 crore recorded in the same quarter a year ago.

Throughout the fiscal year 2023-24, Arvind SmartSpaces Ltd witnessed a remarkable growth in net profit, soaring to Rs 41.57 crore from Rs 25.60 crore in the preceding year. Similarly, total income saw a significant surge, rising to Rs 350.87 crore from Rs 263.25 crore in the fiscal year 2022-23.

In terms of operational performance, the company's sale bookings demonstrated a robust increase of 38 per cent, reaching Rs 1,107 crore in fiscal year 2023-24 compared to Rs 802 crore in the previous year.

Commenting on the financial results, Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, expressed his satisfaction with the company's performance. Singal highlighted, FY24 has been a landmark year for the company with milestones achieved across bookings, collections, and business development. He emphasized that the company achieved its highest ever annual bookings of Rs 1,107 crore, reflecting a significant 38 per cent year-on-year growth.

Singal further elaborated on the company's strategic expansion, stating, We have acquired new projects with an expected topline of Rs 4,150 crore as against Rs 930 crore in FY23. He noted the addition of four new projects in Ahmedabad and one each in Bengaluru and Surat, expressing optimism about sustaining this momentum in the upcoming year.

Arvind SmartSpaces Ltd's strong financial performance underscores its robust position in the real estate sector and its strategic initiatives for future growth and expansion.

Realty firm Arvind SmartSpaces Ltd announced a significant surge in its net profit, marking a 67 per cent increase to Rs 15.49 crore for the quarter ended March, driven by a substantial rise in income. Compared to Rs 9.30 crore in the corresponding period last year, the company witnessed notable growth in profitability. The company's total income also experienced an upward trajectory, reaching Rs 120.10 crore in the quarter, up from Rs 94.37 crore recorded in the same quarter a year ago. Throughout the fiscal year 2023-24, Arvind SmartSpaces Ltd witnessed a remarkable growth in net profit, soaring to Rs 41.57 crore from Rs 25.60 crore in the preceding year. Similarly, total income saw a significant surge, rising to Rs 350.87 crore from Rs 263.25 crore in the fiscal year 2022-23. In terms of operational performance, the company's sale bookings demonstrated a robust increase of 38 per cent, reaching Rs 1,107 crore in fiscal year 2023-24 compared to Rs 802 crore in the previous year. Commenting on the financial results, Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, expressed his satisfaction with the company's performance. Singal highlighted, FY24 has been a landmark year for the company with milestones achieved across bookings, collections, and business development. He emphasized that the company achieved its highest ever annual bookings of Rs 1,107 crore, reflecting a significant 38 per cent year-on-year growth. Singal further elaborated on the company's strategic expansion, stating, We have acquired new projects with an expected topline of Rs 4,150 crore as against Rs 930 crore in FY23. He noted the addition of four new projects in Ahmedabad and one each in Bengaluru and Surat, expressing optimism about sustaining this momentum in the upcoming year. Arvind SmartSpaces Ltd's strong financial performance underscores its robust position in the real estate sector and its strategic initiatives for future growth and expansion.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?