Arvind SmartSpaces Limited (ARVSMART)

Realty · Realty · NSE · Updated 13 August 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹665.55 ↑ 11.73% (1Y)

🎯 Key Takeaways

Arvind SmartSpaces is transitioning from a fragmented, low-scale developer to a high-growth, institutional-grade real estate platform with visible execution momentum. The company has demonstrated consistent top-line expansion, improved profitability, and strategic project additions, signaling a clear shift toward scalable development and disciplined capital allocation.
Revenue declined 20.9% QoQ to ₹210 in Q3FY25.
⚠️ 1) Execution risk in large joint development projects could impact timelines and profitability if delays occur. 2) Rising input costs or regulatory hu

Market Cap

₹2,705

P/E Ratio

25.1

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Arvind SmartSpaces is transitioning from a fragmented, low-scale developer to a high-growth, institutional-grade real estate platform with visible execution momentum. The company has demonstrated consistent top-line expansion, improved profitability, and strategic project additions, signaling a clear shift toward scalable development and disciplined capital allocation.

📰 What's Happening

In Q1 FY27, the company reported record results with revenue surging to ₹318 crores from ₹102 crores YoY, driven by a 147% jump in bookings to ₹432 crores. PAT rose sharply to ₹97 crores from ₹12 crores, while Adjusted EBITDA increased to ₹152 crores from ₹25 crores. Management highlighted two new joint development projects with a combined revenue potential of ₹2,580 crores and upgraded its credit rating to AA- (Stable). The board approved these results and appointed Walker Chandiok & Co LLP as the new statutory auditor following the resignation of S R B C & Co LLP.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	93	67	73	84	117	74	266	210
Operating Profit	22	29	36	22	34	12	70	65
OPM %	21.9%	39.4%	46.6%	23.7%	26.7%	12.3%	24.8%	28.3%
Net Profit	10	9	11	12	20	5	43	50
EPS	₹2.05	₹1.77	₹1.91	₹2.07	₹3.42	₹0.64	₹8.95	₹10.49

Revenue has shown a clear upward trajectory over the past four quarters, rising from ₹67 crores in Q1FY24 to ₹210 crores in Q3FY25, with operating margins expanding from 12.3% to 28.3% and net profit growing from ₹5 crores to ₹50 crores. This growth has been accompanied by improved capital efficiency, as seen in the decline in net debt to equity and rising EBITDA margins. The sharp improvement in profitability and scale is directly linked to management’s focus on high-margin joint developments and project execution.

🔮 Management Outlook & What's Next

Management expects to add ₹4,000–5,000 crores of new projects during FY27 and projects 35%-40% growth in bookings for the full fiscal year, indicating confidence in sustained momentum. This guidance is underpinned by the addition of two new joint development projects with significant revenue visibility. The company also emphasized strengthening its balance sheet, reflected in the credit rating upgrade to AA- (Stable), which supports future financing needs.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Realty

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
DLF Limited	1.40 L Cr	35.0	—	—	—
Lodha Developers Limited	84,910	33.5	—	—	—
The Phoenix Mills Limited	62,175	46.0	—	—	—
Oberoi Realty Limited	58,802	22.8	—	—	—
Prestige Estates Projects Limited	57,813	71.4	—	—	—
Godrej Properties Limited	51,630	32.1	—	—	—
Anant Raj Limited	17,569	30.5	10.5%	9.6%	0.10
Brigade Enterprises Limited	16,836	25.1	—	—	—
Sobha Limited	14,942	227.9	—	—	—
Aditya Birla Real Estate Limited	14,430	-62.6	-4.3%	-2.8%	1.52

🔗 Peer Stock Analyses

DLF LODHA PHOENIXLTD OBEROIRLTY PRESTIGE

⚠️ Risk Factors

1) Execution risk in large joint development projects could impact timelines and profitability if delays occur. 2) Rising input costs or regulatory hurdles in key markets may pressure margins despite current optimism. 3) The company’s growth trajectory depends on continued access to capital and favorable market conditions in the real estate sector, which remains cyclical.

📋 Recent Filings

🧠 Analyst's Read

Arvind SmartSpaces is executing a clear turnaround and scaling strategy, supported by strong quarterly results, strategic project additions, and improved financial metrics. The next key watchpoint is the successful execution of new joint developments and whether booking growth sustains above 35% for FY27. Investors should monitor project progress updates and any changes in capital allocation strategy at the upcoming AGM.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-13.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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