Realty company Arvind SmartSpaces announced Q1FY25 results:
- Bookings grew by 49% YoY; Rs 201 crore vs. Rs 135 crore last year
- Collections increased by 21% YoY at Rs 248 crore vs Rs 204 crore last year
- Revenue from Operations grew by 11% YoY; Rs 75 crore vs. Rs 67 crore last year
- Adj. EBITDA amounted to Rs 8 crore vs. Rs 16 crore last year
- PAT amounted to Rs 5 crore as against Rs 9 crore last year
- Net Debt decreased to Rs (58) crore as on June 30, 2024 from Net debt of Rs (41) crore as on Mar 31, 2024.
- Net Debt to Equity ratio stood at (0.12) as on Jun 30, 2024 as against (0.08) as on Mar 31, 2024
- The cumulative new business development topline potential stands at ~Rs 410 crore in Q1 FY25
- Remainder phase of Forest Trails Sarjapur, Bengaluru to be developed as a high-rise project comprising a saleable area of 3.2 lakh sq ft. Top line potential increased by of ~Rs 205 crore
- Acquired additional 42 acres at Uplands 2.0 & 3.0. This will add Rs 205 crore to the top line
Commenting on the Q1FY25 performance, Kamal Singal, Managing Director and CEO, Arvind SmartSpaces commented, "We have started the year on a healthy note with progress in bookings, collections and business development, setting a positive trajectory for the year ahead. Q1FY25, Bookings improved by 49% YoY to Rs 201 crore and Collections improved by 21% to Rs 248 crore. Our operations cycle remains strong with net operating cash flows of Rs 97 crore during the quarter. During the quarter, we added a combined topline of Rs 410 crore across two of our existing projects namely Forest Trails and Uplands 2.0 & 3.0.
We believe the overall residential markets remain quite healthy given cyclically low inventory levels and healthy affordability. The remainder of the year should witness a strong uptick in our performance with a robust launch and business development pipeline for the upcoming quarters.”