Arihant Superstructures registers record Q2FY22 earnings, PAT at Rs11.6cr up by 180% yoy; Stock ends higher

The company sold a total of 508 units during Q2FY22. Total Income at Rs88.15cr in Q2FY22; up 36.8% yoy.

Oct 26, 2021 03:10 IST India Infoline News Service

Arihant Group
Arihant Superstructures Limited (ASL) a real estate company with a predominant focus on the affordable and mid-income housing segments in the, MMR, mainly Navi Mumbai and the Jodhpur region, announced its results for the quarter ended September 30, 2021.

The company sold total 508 units sold during Q2FY22. Total Income at Rs88.15cr in Q2FY22; 36.8% yoy growth from Rs64.4cr in Q2FY21. EBITDA at Rs20.2cr in Q2FY22, 53.5% yoy growth from Rs13.1cr in Q2FY21. Profit After Tax (PAT) at Rs11.6cr in Q2FY22, 180.4% yoy growth from Rs4.1cr in Q2FY21.

Arihant Superstructures Ltd ended at Rs175 per piece up by Rs9.45 or 5.71% from its previous closing of Rs165.55 per piece on the BSE.

Key Performance Highlights for the Q2FY22:
  • Finance Cost reduced by 32.46% (Rs2.48cr) from Rs7.64cr in Q2FY21 to Rs5.16cr in Q2FY22.
  • EBITDA Margins expanded by 249 bps to 22.9%
  • Total Sales area 4.00 lakh sqft worth Rs208.3cr
  • Total Collections for the quarter is 110.2cr, up by 17.3% qoq
Key Performance Highlights for the H1FY22:
  • Finance Cost reduced by 32.39% (Rs5.04cr) from Rs15.55cr in H1FY21 to Rs10.51cr in H1FY22
  • EBITDA Margins expanded by 115.3 bps to 20.6%
  • Total Sales area 6.25 lakh sqft worth Rs334.8cr
  • Total Collections for the H1FY22 is 204.1cr
“After years of consolidation, the Real Estate sector has witnessed a recovery in home buyer demand, especially Affordable Housing. When the first lot of demand was witnessed post Covid first wave, it was said to be ‘pent up’ demand. Post that when the central government and state governments gave sops, the increased demand was attributed to these sops and low home loan rates. Now even after some of the sops have been withdrawn, we continue to see increasing demand which points to the fact that we are in a sustainable long term up-cycle. We at Arihant, have been preparing for this phase, and look forward with a lot of confidence,” Ashok Chhajer, Chairman and Managing Director, Arihant Superstructures Limited, said.

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