Arvind SmartSpaces Q4 net profit zooms 86% in year of record bookings

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Realty firm Arvind SmartSpaces Ltd on Monday (May 6) reported an 85.7% year-on-year (YoY) jump in net profit at ₹19.5 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Arvind SmartSpaces posted a net profit of ₹10.5 crore, the company said in a regulatory filing. The company’s revenue from operations increased 26.6% to ₹117.4 crore against ₹92.7 crore in the corresponding period of the preceding fiscal.

“FY24 has been a landmark year for the company with milestones achieved across bookings, collections and business development. The company has recorded the highest ever annual bookings of ₹1,107 crore, a growth of 38 per cent year-on-year (YoY),” Kamal Singal, Managing Director and CEO of Arvind SmartSpaces said.

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He said the company acquired new projects with an expected topline of ₹4,150 crore against ₹930 crore in FY23. “We have added four new projects in Ahmedabad, and one each in Bengaluru and Surat. We look forward to sustaining this momentum in the coming year as well,” Singal said.

The results came after the close of the market hours. Shares of Arvind Smartspaces Ltd ended at ₹665.80, down by ₹7.45, or 1.11%, on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow