• Growth and launches: Arvind Smartspaces is guiding for 35% to 40% growth next year and targeting a 30% cumulative growth rate over a 4–5 year timeframe. The company plans to launch six new projects in FY27 after adding more than ₹3,000 crore GDV of projects in the previous year.
• Capex and leverage: Planned capex for FY27 is ₹600 to ₹700 crore for land acquisition, with roughly half funded via operating cash flows. Additional debt with high-single-digit financing costs will be utilized, while maintaining the net debt-to-equity ratio comfortably below the 1:1 guardrail.
• Land acquisition model: The company avoids land banking, targeting project launches within 9 to 12 months of acquisition to achieve high IRR and return on capital. It targets an asset-light structure, with 60% to 70% of land acquired via joint development formats and roughly 30% through outright purchases.
• Geographic sales mix: Mumbai is expected to expand to about one-third of total sales alongside Bangalore (one-third) and Gujarat (one-third). Mumbai launches scheduled for H2 include a 100-acre horizontal project and two redevelopment projects, including a ₹2,400 crore GDV project in Goregaon.