Arvind SmartSpaces Ltd

Arvind SmartSpaces Ltd

₹ 617 1.31%
26 May - close price
About

Arvind Smarspaces Ltd was incorporated as "Arvind Infrastructure Limited" in 2008 in Ahmedabad as a wholly-owned subsidiary of Arvind Limited. The company was incorporated with the objective of doing a real estate/infrastructure development business.
Arvind Smartspaces is the real estate arm of the Lalbhai Group, a $2 billion dollar conglomerate. ASL is currently executing 9 projects through its own land, JVs and Joint Development model. ASL has also successfully executed 9 projects to date. [1]

Key Points

Product Offerings[1]
Horizontal (Plotting, Villas) and Vertical (Luxury, MIG residential housing)
Portfolio -
▪ Delivered 4.9 msf
▪ Ongoing projects of 26.9 msf
▪ Planned projects of 43.5 msf

  • Market Cap 2,831 Cr.
  • Current Price 617
  • High / Low 757 / 487
  • Stock P/E 61.6
  • Book Value 126
  • Dividend Yield 0.97 %
  • ROCE 8.90 %
  • ROE 7.96 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 84.5%
  • Promoter holding has increased by 4.01% over last quarter.

Cons

  • Stock is trading at 4.90 times its book value
  • Company has a low return on equity of 6.14% over last 3 years.
  • Earnings include an other income of Rs.49.4 Cr.
  • Working capital days have increased from -117 days to 98.3 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
32 32 43 12 64 24 13 20 68 20 36 103 80
32 25 28 18 43 23 20 25 64 24 46 75 52
Operating Profit -0 7 15 -7 21 1 -7 -5 4 -4 -10 28 28
OPM % -1% 22% 35% -56% 33% 6% -53% -26% 6% -21% -29% 27% 35%
9 10 10 9 10 9 9 10 9 8 12 11 18
Interest 2 1 1 1 2 2 2 2 4 6 5 6 11
Depreciation 0 0 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 7 15 23 1 28 8 -1 3 8 -3 -4 32 34
Tax % 24% 17% 10% 21% 25% 20% -44% 23% 31% -34% -11% 27% 16%
5 12 21 0 21 6 -0 2 6 -2 -4 23 29
EPS in Rs 1.09 2.69 4.65 0.10 4.72 1.39 -0.09 0.42 1.25 -0.41 -0.82 5.04 6.22
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
61 111 90 128 234 151 94 120 117 151 125 238
38 78 62 91 171 117 73 90 100 114 131 197
Operating Profit 24 33 28 37 63 35 21 31 17 37 -6 41
OPM % 39% 30% 31% 29% 27% 23% 22% 25% 14% 25% -5% 17%
0 4 5 14 16 11 18 27 37 38 38 49
Interest 8 8 12 15 20 18 20 11 6 6 11 28
Depreciation 0 1 1 1 1 1 1 1 1 2 3 4
Profit before tax 16 27 20 35 58 26 18 45 47 67 18 59
Tax % 31% 36% -3% 15% 21% 26% 22% 14% 19% 18% 25% 21%
11 17 21 30 46 19 14 39 38 55 14 46
EPS in Rs 10.93 6.70 7.25 9.34 13.06 5.45 3.93 9.19 8.45 12.16 2.97 10.02
Dividend Payout % 0% 0% 0% 0% 11% 0% 0% 0% 39% 29% 202% 22%
Compounded Sales Growth
10 Years: 8%
5 Years: 20%
3 Years: 27%
TTM: 91%
Compounded Profit Growth
10 Years: 10%
5 Years: 27%
3 Years: 7%
TTM: 501%
Stock Price CAGR
10 Years: 22%
5 Years: 42%
3 Years: 24%
1 Year: -12%
Return on Equity
10 Years: 8%
5 Years: 7%
3 Years: 6%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 10 26 28 32 35 36 36 42 45 45 46 46
Reserves 116 118 167 263 273 287 301 425 484 525 531 532
28 91 93 161 171 165 119 2 53 66 204 575
51 22 43 38 97 71 146 367 399 501 665 888
Total Liabilities 205 256 331 494 577 559 601 836 980 1,137 1,446 2,041
2 8 8 8 8 7 7 8 10 15 20 21
CWIP 0 0 0 0 0 0 0 1 1 0 0 3
Investments 0 61 94 168 227 180 148 222 244 348 463 485
203 187 229 317 342 371 446 605 725 773 963 1,532
Total Assets 205 256 331 494 577 559 601 836 980 1,137 1,446 2,041

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
55 -9 -10 -60 30 -39 84 225 -32 -45 -205 -144
2 -7 -11 -62 -26 69 -1 -70 -157 74 76 -87
25 17 20 122 -3 -29 -66 -36 67 -9 115 298
Net Cash Flow 82 1 -1 0 1 1 17 119 -121 20 -13 68
Free Cash Flow 54 -10 -11 -61 30 -40 83 222 -35 -55 -209 -154
CFO/OP 252% -4% -20% -146% 51% -108% 402% 764% -143% -107% 3,066% -306%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 10 112 113 161 1 2 9 3 6 5 3 12
Inventory Days 900 1,253 2,726 3,967 3,571
Days Payable 208 87 242 396 326
Cash Conversion Cycle 10 804 113 161 1,167 2 2,494 3,574 3,251 5 3 12
Working Capital Days 603 355 615 625 182 136 469 -278 -272 -236 -214 98
ROCE % 17% 18% 12% 13% 17% 9% 8% 12% 10% 11% 3% 9%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Booking Value
INR Cr

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Collections
INR Cr
Operating Cash Flow (OCF)
INR Cr
Total Project Portfolio (Cumulative)
Mn Sq Ft
Units Sold
Nos
Unrecognised Revenue
INR Cr

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

11 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
50.54% 50.54% 50.54% 50.51% 50.38% 50.28% 50.28% 50.27% 49.96% 49.83% 49.83% 53.83%
0.69% 0.85% 0.49% 0.41% 1.81% 2.51% 2.65% 2.01% 1.60% 1.00% 0.83% 0.67%
11.49% 11.62% 11.66% 13.52% 12.33% 12.77% 12.86% 12.65% 13.88% 14.70% 15.82% 8.60%
37.27% 36.99% 37.29% 35.55% 35.46% 34.44% 34.22% 35.06% 34.55% 34.46% 33.53% 36.91%
No. of Shareholders 88,36187,54889,48491,91291,03191,80392,64094,20396,51996,26194,38293,140

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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