**NSE/BSE Listed Entity** Bhudevi Infra Projects Limited (formerly known as **Aarv Infratel Limited**) is an Indian infrastructure and real estate development firm. Following a significant change in ownership and management in **May 2022**, the company executed a comprehensive strategic pivot, transitioning from **Telecom Infrastructure** to a diversified **Real Estate and Infrastructure Consultancy** model. --- ### Strategic Reorientation & Corporate Evolution The company has undergone a total structural and operational transformation to align with the Indian real estate upcycle. * **Business Object Amendment:** In **August 2022**, shareholders approved a formal change to the Memorandum of Association, authorizing the company to act as **builders, property developers, engineering contractors, and real estate consultants**. * **Rebranding:** The company officially changed its name to **Bhudevi Infra Projects Limited** in **September 2022** to reflect its new identity. * **Geographic Realignment:** In **August 2023**, the registered office was relocated from **Karnataka** to **Hyderabad, Telangana**. This move was strategic, positioning the company in one of India’s fastest-growing real estate hubs. * **Ownership Structure:** Following the takeover, the **Bhatt family (Promoters)** holds a dominant **74.56%** stake in the company. --- ### Core Business Model & Revenue Recognition Bhudevi Infra operates as a service-oriented construction entity with a focus on high-value residential and commercial projects. * **Operational Segment:** The company operates exclusively in a **single reportable segment**: **Construction Activity**. * **Revenue Recognition (Ind AS 115):** Revenue is recognized **over time** using the **cost-to-cost method** (input method). This ensures that revenue reflects the proportion of contract costs incurred relative to the total estimated costs. * **Performance Obligations:** The company identifies the delivery of the project according to contractual terms as its sole performance obligation. * **Asset Utilization:** Projects are site-specific with no alternative use to the company, protected by an enforceable right to payment for work completed to date. --- ### Project Portfolio & Growth Strategy The company utilizes **Joint Development Agreements (JDA)** to scale its portfolio while managing capital outlay and land acquisition risks. #### Flagship Project: BHUDEVI AURUM | Feature | Details | | :--- | :--- | | **Location** | Hyderabad, Telangana | | **Type** | **Gated Community Residential Apartments** | | **Land Area** | **1.5 Acres** | | **Construction Size** | **~2.80 Lakhs SFT** | | **Partnership** | JDA executed with **Golla Mallesh & Brothers** (March 2025) | #### Future Expansion Verticals: * **Luxury Residential:** Targeting tier-1 developers and high-end branded housing. * **Mixed-Use Developments:** Creating commercial spaces near residential hubs to facilitate "walk-to-work" ecosystems. * **Diversified Infrastructure:** Actively exploring entries into **Logistics, Warehousing, and Facilities Management**. --- ### Financial Performance & Capital Structure The fiscal year **2024-25** was characterized by stable revenue but increased investment in project scaling, leading to higher leverage and compressed short-term margins. #### Comparative Financial Summary (Rs. in Lakhs) | Particulars | FY 2024-25 | FY 2023-24 | | :--- | :--- | :--- | | **Revenue from Operations** | **358.05** | **362.15** | | **Total Revenue** | **358.11** | **368.43** | | **Total Expenses** | **313.48** | **246.74** | | **Profit Before Tax (PBT)** | **44.63** | **121.69** | | **Net Profit (PAT)** | **33.40** | **91.25** | | **Earnings Per Share (EPS)** | - | **Rs. 1.99** | #### Balance Sheet & Solvency Metrics * **Debt Profile:** Total debt surged to **Rs. 672.48 Lakhs** in FY25, up from **Rs. 57.50 Lakhs** in FY24, reflecting capital mobilization for new projects. * **Leverage:** The **Adjusted Net Debt to Equity Ratio** rose to **1.31** (FY25) from **(0.01)** (FY24). * **Equity Base:** Total Equity stands at **Rs. 503.73 Lakhs**, with a **Paid-up Share Capital** of **Rs. 458.92 Lakhs**. * **Contract Balances:** The company reported **Contract Assets** of **Rs. 24.35 Lakhs** in FY25, a shift from **Contract Liabilities** of **Rs. 20.66 Lakhs** in the previous year. * **Dividend Policy:** The Board has **not recommended a dividend** for FY25, opting to retain earnings to strengthen the capital base for upcoming developments. --- ### Risk Management Framework Management maintains a rigorous oversight system to navigate the cyclical and regulated nature of the Indian construction industry. #### Operational & Market Risks * **Input Costs:** Vulnerability to inflationary pressures in **cement, steel, power, and labor**. * **Regulatory Environment:** Potential delays in **project approvals** and changes in government land-use policies. * **Labor Market:** Shortage of **trained technical labor** and rising manpower costs. * **Competition:** Market saturation from competitors' expansion plans and global recessionary trends. #### Financial Risk Mitigation | Risk Category | Management Strategy | | :--- | :--- | | **Credit Risk** | **15-day average credit period**; default defined as **>365 days**. Currently reporting **Zero Loss Allowance** on trade receivables. | | **Liquidity Risk** | Maintenance of **committed credit lines** and marketable securities to meet stressed obligations. | | **Interest Rate Risk** | Minimal exposure; all current debt consists of **fixed-rate Non-convertible borrowings**. | | **Currency Risk** | **No significant exposure**; no major foreign currency receivables or payables. | --- ### Governance & Internal Controls * **Audit Oversight:** Internal audits are conducted on a **quarterly basis** by the Audit Committee to ensure compliance with **Ind AS** and operational efficiency. * **Statutory Auditors:** **M/s. Samudrala K & co LLP**. * **Counterparty Safety:** All cash and deposits are maintained with banks holding **high credit ratings** to minimize default risk. * **Board Responsibility:** The Board of Directors actively sets **risk limits** and monitors the internal control systems, which are deemed commensurate with the company's current size and scale of operations.