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Arvind SmartSpaces Ltd

ARVSMART·NSE
₹634.05+7.79%Wed, 23 Sept '26
Industry:Realty - Construction & Contracting
Indices:

Arvind SmartSpaces Ltd

ARVSMART
NSE
₹634.05
+7.79%
|Wed, 23 Sept '26
SOICxStockScans Reports
Industry
Realty - Construction & Contracting
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Financials
Documents
Shareholdings
Corporate Actions
Segments
Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Peer Comparison
Financials
Documents
Shareholdings
Corporate Actions
Segments
Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Peer Comparison
6M
Price
Charts
Documents

Quick Ratios

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Mkt Cap
Market Capitalization
₹2,911Cr
Close
Close Price
₹634.05
Industry
Industry
Realty - Construction & Contracting
PE
Price To Earnings
15.54
PS
Price To Sales
3.73
Revenue
Revenue
₹780Cr
Rev Gr TTM
Revenue Growth TTM
5.31%
PAT Gr TTM
PAT Growth TTM
49.28%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
738411774266210163102141166155318
Growth YoY
Revenue Growth YoY%
44.460.226.611.4265.5149.339.036.6-47.1-20.8-4.7212.1
Expenses
ExpensesCr
396486652001511308011112596161
Operating Profit
Operating ProfitCr
342031966593421304259156
OPM
OPM%
46.623.626.712.324.828.320.621.121.025.038.249.2
Other Income
Other IncomeCr
3233451154484
Interest Expense
Interest ExpenseCr
193435588651222
Depreciation
DepreciationCr
111111121225
PBT
PBTCr
161828764583617253954134
Tax
TaxCr
57932181457101037
PAT
PATCr
11122054350221218294497
Growth YoY
PAT Growth YoY%
121.5130.286.2-49.2293.4330.811.5158.9-57.6-41.8103.0714.3
NPM
NPM%
14.913.816.66.216.023.913.311.812.917.628.430.7
EPS
EPS₹
1.92.13.40.68.910.54.22.43.16.39.621.8
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
738411774266210163102141166155318
Growth YoY
Revenue Growth YoY%
44.460.226.611.4265.5149.339.036.6-47.1-20.8-4.7212.1
Expenses
ExpensesCr
396486652001511308011112596161
Operating Profit
Operating ProfitCr
342031966593421304259156
OPM
OPM%
46.623.626.712.324.828.320.621.121.025.038.249.2
Other Income
Other IncomeCr
3233451154484
Interest Expense
Interest ExpenseCr
193435588651222
Depreciation
DepreciationCr
111111121225
PBT
PBTCr
161828764583617253954134
Tax
TaxCr
57932181457101037
PAT
PATCr
11122054350221218294497
Growth YoY
PAT Growth YoY%
121.5130.286.2-49.2293.4330.811.5158.9-57.6-41.8103.0714.3
NPM
NPM%
14.913.816.66.216.023.913.311.812.917.628.430.7
EPS
EPS₹
1.92.13.40.68.910.54.22.43.16.39.621.8

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
115159198262299149257256341713564780
Growth
Revenue Growth%
31.838.225.032.214.3-50.272.1-0.433.3109.1-20.95.3
Expenses
ExpensesCr
80115137194211109208207230545412493
Operating Profit
Operating ProfitCr
3544616889414949111168152287
OPM
OPM%
30.427.830.825.929.627.219.119.132.723.626.936.8
Other Income
Other IncomeCr
2142227710232020
Interest Expense
Interest ExpenseCr
81215212427171441213145
Depreciation
DepreciationCr
1111112355610
PBT
PBTCr
273248486515384076165135252
Tax
TaxCr
10111717245131225463264
PAT
PATCr
17223131419252851119103189
Growth
PAT Growth%
65.628.645.2-0.831.9-78.0174.312.383.6133.3-13.249.3
NPM
NPM%
14.713.715.911.913.76.09.610.915.016.718.324.2
EPS
EPS₹
6.77.810.08.911.12.56.55.89.224.321.040.8
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
115159198262299149257256341713564780
Growth
Revenue Growth%
31.838.225.032.214.3-50.272.1-0.433.3109.1-20.95.3
Expenses
ExpensesCr
80115137194211109208207230545412493
Operating Profit
Operating ProfitCr
3544616889414949111168152287
OPM
OPM%
30.427.830.825.929.627.219.119.132.723.626.936.8
Other Income
Other IncomeCr
2142227710232020
Interest Expense
Interest ExpenseCr
81215212427171441213145
Depreciation
DepreciationCr
1111112355610
PBT
PBTCr
273248486515384076165135252
Tax
TaxCr
10111717245131225463264
PAT
PATCr
17223131419252851119103189
Growth
PAT Growth%
65.628.645.2-0.831.9-78.0174.312.383.6133.3-13.249.3
NPM
NPM%
14.713.715.911.913.76.09.610.915.016.718.324.2
EPS
EPS₹
6.77.810.08.911.12.56.55.89.224.321.040.8

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
2628323536364245454646
Reserves
ReservesCr
118159215219253262365421449552603
Current Liabilities
Current LiabilitiesCr
1591551624304184096278691,3771,6212,187
Non Current Liabilities
Non Current LiabilitiesCr
456712082751673214699242511
Total Liabilities
Total LiabilitiesCr
3564335967777989261,1361,5112,1022,6713,594
Current Assets
Current AssetsCr
2914085666737028109961,3451,7131,9732,642
Non Current Assets
Non Current AssetsCr
65253010596116140166389698952
Total Assets
Total AssetsCr
3564335967777989261,1361,5112,1022,6713,594
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
2628323536364245454646
Reserves
ReservesCr
118159215219253262365421449552603
Current Liabilities
Current LiabilitiesCr
1591551624304184096278691,3771,6212,187
Non Current Liabilities
Non Current LiabilitiesCr
456712082751673214699242511
Total Liabilities
Total LiabilitiesCr
3564335967777989261,1361,5112,1022,6713,594
Current Assets
Current AssetsCr
2914085666737028109961,3451,7131,9732,642
Non Current Assets
Non Current AssetsCr
65253010596116140166389698952
Total Assets
Total AssetsCr
3564335967777989261,1361,5112,1022,6713,594

Cash Flow

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
-15-19-14712-1691161-10131-84-170
Investing Cash Flow
Investing Cash FlowCr
-11-10-7-4229-82-28-109-6
Financing Cash Flow
Financing Cash FlowCr
2127141-1121-19-7495-3185248
Net Cash Flow
Net Cash FlowCr
610-70-130116-87-1-871
Free Cash Flow
Free Cash FlowCr
-17-24-1509-2280151-11115-99-217
CFO To PAT
CFO To PAT%
-87.0-88.3-467.337.6-38.21,007.9648.3-363.159.7-70.5-164.8
CFO To EBITDA
CFO To EBITDA%
-42.0-43.4-241.017.2-17.7224.1327.0-206.527.4-49.9-112.2
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
-15-19-14712-1691161-10131-84-170
Investing Cash Flow
Investing Cash FlowCr
-11-10-7-4229-82-28-109-6
Financing Cash Flow
Financing Cash FlowCr
2127141-1121-19-7495-3185248
Net Cash Flow
Net Cash FlowCr
610-70-130116-87-1-871
Free Cash Flow
Free Cash FlowCr
-17-24-1509-2280151-11115-99-217
CFO To PAT
CFO To PAT%
-87.0-88.3-467.337.6-38.21,007.9648.3-363.159.7-70.5-164.8
CFO To EBITDA
CFO To EBITDA%
-42.0-43.4-241.017.2-17.7224.1327.0-206.527.4-49.9-112.2

Ratios

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
2152465844622403448701,2773,1593,2152,2982,911
Price To Earnings
Price To Earnings
12.512.219.415.16.139.334.749.976.029.123.815.5
Price To Sales
Price To Sales
1.91.63.01.80.82.33.45.09.34.54.13.7
Price To Book
Price To Book
1.51.32.01.80.81.22.12.76.45.43.54.5
EV To EBITDA
EV To EBITDA
7.56.511.17.94.412.315.227.828.820.517.810.8
Profitability Ratios
Profitability Ratios
GPM
GPM%
52.657.858.750.151.562.250.649.972.254.064.864.8
OPM
OPM%
30.427.830.825.929.627.219.119.132.723.626.936.8
NPM
NPM%
14.713.715.911.913.76.09.610.915.016.718.324.2
ROCE
ROCE%
18.418.118.420.620.18.512.48.819.321.113.513.5
ROE
ROE%
11.711.512.712.314.23.06.16.010.319.915.915.9
ROA
ROA%
4.75.05.34.05.21.02.21.82.44.52.92.9
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
2152465844622403448701,2773,1593,2152,2982,911
Price To Earnings
Price To Earnings
12.512.219.415.16.139.334.749.976.029.123.815.5
Price To Sales
Price To Sales
1.91.63.01.80.82.33.45.09.34.54.13.7
Price To Book
Price To Book
1.51.32.01.80.81.22.12.76.45.43.54.5
EV To EBITDA
EV To EBITDA
7.56.511.17.94.412.315.227.828.820.517.810.8
Profitability Ratios
Profitability Ratios
GPM
GPM%
52.657.858.750.151.562.250.649.972.254.064.864.8
OPM
OPM%
30.427.830.825.929.627.219.119.132.723.626.936.8
NPM
NPM%
14.713.715.911.913.76.09.610.915.016.718.324.2
ROCE
ROCE%
18.418.118.420.620.18.512.48.819.321.113.513.5
ROE
ROE%
11.711.512.712.314.23.06.16.010.319.915.915.9
ROA
ROA%
4.75.05.34.05.21.02.21.82.44.52.92.9
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
- **Arvind SmartSpaces is a branded Indian homebuilder that designs and sells apartments, villas and plots, born inside a 120-year-old textile-to-telecom conglomerate and spun out as a standalone listed company in 2015. It brings a manufacturer’s discipline to real estate, treating land as raw material to be turned quickly rather than hoarded, and it funds construction largely with customer advances so it can grow without piling on debt. That same recurring approach - an asset-light, design-led model that chases end-user demand in a handful of cities - now supports a portfolio exceeding 106 million square feet across three states.** # Business segments A single residential engine, supplemented by a small commercial and industrial sideline - both built on the same asset-light, advance-funded model. ## 1. Residential development: where the brand meets the buyer **The company makes money by selling branded homes - mostly mid-market plots and apartments - in Ahmedabad, Bengaluru and Mumbai, with construction funded by customer advances rather than debt.** - **Land treated as raw material, not a bet** - it acquires land through joint development agreements (JDAs) with landowners for 78% of its portfolio by volume, which means the land is ready to build on and the upfront cash outlay is low, shortening the time to market to 6-9 months. - **Customer advances fund the build** - buyers pay in stages as construction progresses, creating a negative working capital cycle that largely removes the need for external borrowings and keeps the balance sheet light. - **Clubhouses go up first** - in plotted developments, the company builds the world-class club house before selling the plots, which creates buyer traction and helps it command progressively better prices as the project gains visibility. - **A 20-25% price premium in its home market** - in Ahmedabad’s horizontal developments, it charges roughly a fifth more than competitors in the same micro-market because of the Arvind brand, the design quality and the early delivery track record; in Bengaluru’s vertical projects, its pricing sits in the top bracket alongside the best-known national players. - **Referrals do the heavy lifting** - 22% of bookings in FY25 came from existing customers recommending the company to friends and family, which keeps marketing costs low - the cost of acquired sales is under 1.75% for most new launches. ## 2. Commercial and industrial development: a smaller sideline on the same chassis **A compact portfolio of commercial complexes, retail spaces and industrial parks that runs on the same sale-of-units model as the residential business, contributing 7% of the total pipeline by value.** - **Industrial parks sold as units** - the company signed a \~440-acre industrial park project on NH47 near Ahmedabad with a top-line potential of roughly INR 1,350 crores, structured as a JDA where it keeps a 70.5% revenue share and provides shared infrastructure like a common effluent treatment plant and logistics zones. # Group structure and partners **The company is majority-owned by its listed parent Arvind Limited and has built a series of platforms with HDFC Capital that supply patient money without diluting operating control.** - **Projects live in separate legal vehicles** - each development sits inside its own Special Purpose Vehicle or LLP, with economic stakes varying by structure: 100% for owned-land projects, roughly 65-70.5% for JDs, about 50-77% for joint ventures, and around 10% for development management deals where the company acts as a fee-earning builder. - **HDFC Capital as a platform partner** - a INR 900 crore residential platform was set up with HDFC Capital’s HCARE-3 fund, where HDFC put in INR 600 crores through convertible debentures and the company invested INR 300 crores, targeting a combined revenue potential of INR 4,000-5,000 crores across multiple projects. - **Capital returned from project cash flows** - the first platform with HDFC was wound up within two and a half years and the first project under the second platform was exited in November 2023, in both cases repaying HDFC’s investment in full from the cash the projects themselves generated.

Documents — Arvind SmartSpaces Ltd

  • Q1 FY2027 Earnings Call Transcript (Jun 2026, PDF): https://www.stockscans.in/document/x04ozjbd441n98jtczhfm1gl.pdf
  • Q4 FY2026 Earnings Call Transcript (Mar 2026, PDF): https://www.stockscans.in/document/w4rcn411qw97h8fklk9me337.pdf
  • Q3 FY2026 Earnings Call Transcript (Dec 2025, PDF): https://www.stockscans.in/document/i8rnyoi3mdk0v2wzi8st5kc6.pdf
  • Q2 FY2026 Earnings Call Transcript (Sep 2025, PDF): https://www.stockscans.in/document/jxqt0dn2xt1oq0kvljqnlnql.pdf
  • Q1 FY2026 Earnings Call Transcript (Jun 2025, PDF): https://www.stockscans.in/document/oko9qdgiwaw3c95nzrcufi0p.pdf
  • Q4 FY2025 Earnings Call Transcript (Mar 2025, PDF): https://www.stockscans.in/document/63x9vs2l11c8wphwe6s44ymb.pdf
  • Q3 FY2025 Earnings Call Transcript (Dec 2024, PDF): https://www.stockscans.in/document/zpht97tgr2bvgqbni7ca5miv.pdf
  • Q2 FY2025 Earnings Call Transcript (Sep 2024, PDF): https://www.stockscans.in/document/1zptxqi3rpzvjjm81fisjijk.pdf
  • Q1 FY2027 Quarterly Result (Jun 2026, PDF): https://www.stockscans.in/document/rj2oohezv5znoay9y5vw2jld.pdf
  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/i445df1c5305tzxwibjkq3yp.pdf
  • Q3 FY2026 Quarterly Result (Dec 2025, PDF): https://www.stockscans.in/document/n60qe5blwzumya1xwb2ac9be.pdf
  • Q1 FY2026 Quarterly Result (Jun 2025, PDF): https://www.stockscans.in/document/cooeiid9p5a33vvieb3hzaqz.pdf
  • Q4 FY2025 Quarterly Result (Mar 2025, PDF): https://www.stockscans.in/document/tpi9yl0pgy0izhcpfvx47ahb.pdf
  • Q2 FY2025 Quarterly Result (Sep 2024, PDF): https://www.stockscans.in/document/vqowoya73j2gffe607hras2a.pdf
  • Q1 FY2025 Quarterly Result (Jun 2024, PDF): https://www.stockscans.in/document/5615gyv2fqly8v62r6kk8iv0.pdf
  • Q4 FY2024 Quarterly Result (Mar 2024, PDF): https://www.stockscans.in/document/rm981ieup3k2dncgkelw0afl.pdf
  • Q1 FY2027 Investor Presentation (Jun 2026, PDF): https://www.stockscans.in/document/x79cc0d3zm0awiylwx64nle9.pdf
  • Q4 FY2026 Investor Presentation (Mar 2026, PDF): https://www.stockscans.in/document/jdefaqx1bo9tj9fze24bgiih.pdf
  • Q3 FY2026 Investor Presentation (Dec 2025, PDF): https://www.stockscans.in/document/t2euxzu6cwz6s69lhytr3mpn.pdf
  • Q2 FY2026 Investor Presentation (Sep 2025, PDF): https://www.stockscans.in/document/mev6pp0n2fnsm3cleltia41n.pdf
  • Q1 FY2026 Investor Presentation (Jun 2025, PDF): https://www.stockscans.in/document/s2eibdxdfktpx99x7357x37b.pdf
  • Q4 FY2025 Investor Presentation (Mar 2025, PDF): https://www.stockscans.in/document/kcf7ne8t24hezv2yqgzeaihz.pdf
  • Q3 FY2025 Investor Presentation (Dec 2024, PDF): https://www.stockscans.in/document/6qnvj67vh9wo5egd2kphnmwl.pdf
  • Q2 FY2025 Investor Presentation (Sep 2024, PDF): https://www.stockscans.in/document/2kn9qqnp78o46e8jb7v8dg3d.pdf
  • FY2026 Annual Report (PDF): https://www.stockscans.in/document/azaaakc59jg2eymwhm5efqh8.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/yvhck2sl3z4ex95h7hcakijf.pdf
  • FY2024 Annual Report (PDF): https://www.stockscans.in/document/oazq9r5xbyfls4i946qqh0pq.pdf
  • FY2023 Annual Report (PDF): https://www.stockscans.in/document/sfsgz03vsi8vdy6enfqflgu9.pdf
  • FY2022 Annual Report (PDF): https://www.stockscans.in/document/jak5l8g41rqh1q4upgbped1k.pdf
  • FY2021 Annual Report (PDF): https://www.stockscans.in/document/jl90o0angtpluxqw8ikp4efy.pdf
  • FY2020 Annual Report (PDF): https://www.stockscans.in/document/f0od4zcgp4jlpxu5xsrnba0u.pdf

Concall Transcript Summaries — Arvind SmartSpaces Ltd

  • Q1 FY2027 Concall Transcript Summary (Jun 2026): https://www.stockscans.in/company/NSE%3AARVSMART/transcript-notes/202606/x04ozjbd441n98jtczhfm1gl.pdf
  • Q4 FY2026 Concall Transcript Summary (Mar 2026): https://www.stockscans.in/company/NSE%3AARVSMART/transcript-notes/202603/w4rcn411qw97h8fklk9me337.pdf
  • Q3 FY2026 Concall Transcript Summary (Dec 2025): https://www.stockscans.in/company/NSE%3AARVSMART/transcript-notes/202512/i8rnyoi3mdk0v2wzi8st5kc6.pdf
  • Q2 FY2026 Concall Transcript Summary (Sep 2025): https://www.stockscans.in/company/NSE%3AARVSMART/transcript-notes/202509/jxqt0dn2xt1oq0kvljqnlnql.pdf
  • Q1 FY2026 Concall Transcript Summary (Jun 2025): https://www.stockscans.in/company/NSE%3AARVSMART/transcript-notes/202506/oko9qdgiwaw3c95nzrcufi0p.pdf
  • Q4 FY2025 Concall Transcript Summary (Mar 2025): https://www.stockscans.in/company/NSE%3AARVSMART/transcript-notes/202503/63x9vs2l11c8wphwe6s44ymb.pdf
  • Q3 FY2025 Concall Transcript Summary (Dec 2024): https://www.stockscans.in/company/NSE%3AARVSMART/transcript-notes/202412/zpht97tgr2bvgqbni7ca5miv.pdf
  • Q2 FY2025 Concall Transcript Summary (Sep 2024): https://www.stockscans.in/company/NSE%3AARVSMART/transcript-notes/202409/1zptxqi3rpzvjjm81fisjijk.pdf

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