Arvind SmartSpaces Q3 Profit Surges 331%, Revenue Jumps 149%

31 Jan 2025 , 12:22 PM

Arvind SmartSpaces Ltd. reported the highest net profit of ₹50 crore for the Q3 FY25 with YoY growth at 331%over ₹12 crore registered for the same quarter last fiscal.

Revenue from operations touched its peak at ₹210 crore which was up 149% YoY versus ₹84 crore in Q3 FY24 which was achieved from effective project execution. Adjusted EBITDA increased by 188% YoY to ₹60 crore compared to ₹21 crore in the previous year, showing a good improvement in profitability.

Bookings declined to ₹224 crore from ₹280 crore last year while collections increased by 18% YoY at ₹229 crore from ₹194 crore. The net debt increased to ₹196 crore at December 31, 2024, compared to ₹195 crore at September 2024 but the net debt-to-equity ratio has come down to 0.34 from 0.37 thereby showing improvement in financial health.

Arvind SmartSpaces ventured into the Mumbai Metropolitan Region (MMR) with a ₹1,500 crore township project spread over 92 acres on the outskirts of Khopoli, in a joint development model that will give it a 70.5% share of revenue.

The company signed a deal to set up a mega industrial park in Ahmedabad, covering 440 acres of top-line potential of ₹1,350 crore, which would be one of the largest industrial parks in Gujarat. MD & CEO Kamal Singal said that the company had a good 9M FY25 performance with record booking and collections, operating cash flows of ₹277 crore, and PAT of ₹97 crore for the nine months.