Arvind SmartSpaces Ltd
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]
- Market Cap ₹ 2,789 Cr.
- Current Price ₹ 609
- High / Low ₹ 1,025 / 581
- Stock P/E 23.5
- Book Value ₹ 131
- Dividend Yield 0.99 %
- ROCE 19.0 %
- ROE 18.8 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 21.2% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 40.4%
- Company's median sales growth is 32.0% of last 10 years
- Company's working capital requirements have reduced from 236 days to 56.2 days
Cons
- Stock is trading at 4.64 times its book value
- Company has a low return on equity of 11.2% over last 3 years.
- Promoter holding has decreased over last 3 years: -3.86%
* 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.
Peer comparison
Consumer Discretionary Realty Realty Residential, Commercial Projects
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
87 | 115 | 159 | 198 | 262 | 299 | 149 | 257 | 256 | 341 | 713 | 741 | |
62 | 80 | 114 | 137 | 194 | 211 | 109 | 208 | 207 | 229 | 545 | 560 | |
Operating Profit | 25 | 35 | 44 | 61 | 68 | 89 | 41 | 49 | 49 | 112 | 168 | 180 |
OPM % | 29% | 31% | 28% | 31% | 26% | 30% | 27% | 19% | 19% | 33% | 24% | 24% |
0 | 2 | 1 | 4 | 2 | 2 | 2 | 7 | 7 | 9 | 23 | 25 | |
Interest | 8 | 9 | 12 | 15 | 21 | 24 | 27 | 17 | 14 | 41 | 21 | 25 |
Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 4 | 5 | 5 |
Profit before tax | 17 | 27 | 32 | 48 | 48 | 65 | 14 | 38 | 40 | 76 | 165 | 174 |
Tax % | 39% | 38% | 33% | 35% | 35% | 37% | 38% | 34% | 30% | 33% | 28% | |
10 | 17 | 22 | 31 | 31 | 41 | 9 | 25 | 28 | 51 | 119 | 127 | |
EPS in Rs | 10.56 | 6.66 | 7.14 | 9.47 | 8.70 | 11.06 | 2.46 | 5.90 | 5.65 | 9.17 | 24.25 | 26.05 |
Dividend Payout % | 0% | 0% | 0% | 0% | 17% | 0% | 0% | 0% | 58% | 38% | 25% |
Compounded Sales Growth | |
---|---|
10 Years: | 23% |
5 Years: | 19% |
3 Years: | 41% |
TTM: | 112% |
Compounded Profit Growth | |
---|---|
10 Years: | 26% |
5 Years: | 21% |
3 Years: | 61% |
TTM: | 226% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 44% |
3 Years: | 48% |
1 Year: | -16% |
Return on Equity | |
---|---|
10 Years: | 10% |
5 Years: | 9% |
3 Years: | 11% |
Last Year: | 19% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 10 | 26 | 28 | 32 | 35 | 36 | 36 | 42 | 45 | 45 | 46 |
Reserves | 116 | 118 | 166 | 263 | 219 | 253 | 276 | 397 | 421 | 449 | 552 |
31 | 92 | 93 | 161 | 171 | 218 | 189 | 30 | 146 | 110 | 285 | |
105 | 120 | 145 | 140 | 352 | 291 | 425 | 667 | 898 | 1,497 | 1,783 | |
Total Liabilities | 262 | 355 | 433 | 596 | 777 | 798 | 926 | 1,136 | 1,511 | 2,102 | 2,666 |
3 | 10 | 10 | 10 | 10 | 9 | 9 | 43 | 46 | 53 | 58 | |
CWIP | 0 | 0 | 11 | 12 | 14 | 20 | 39 | 13 | 17 | 19 | 25 |
Investments | 0 | 0 | 2 | 2 | 2 | 1 | 1 | 0 | 83 | 103 | 186 |
259 | 345 | 410 | 572 | 752 | 767 | 876 | 1,080 | 1,364 | 1,927 | 2,397 | |
Total Assets | 262 | 355 | 433 | 596 | 777 | 798 | 926 | 1,136 | 1,511 | 2,102 | 2,666 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|
56 | 27 | -19 | -147 | 12 | -16 | 91 | 161 | -101 | 30 | -84 | |
-1 | -1 | 1 | -1 | -0 | -7 | -42 | 29 | -82 | -28 | -109 | |
23 | -20 | 27 | 141 | -11 | 21 | -19 | -74 | 95 | -3 | 186 | |
Net Cash Flow | 78 | 6 | 10 | -7 | 0 | -1 | 30 | 116 | -87 | -1 | -8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 29 | 207 | 93 | 215 | 2 | 1 | 6 | 2 | 4 | 3 | 7 |
Inventory Days | 8,524 | 9,212 | |||||||||
Days Payable | 4,159 | 873 | |||||||||
Cash Conversion Cycle | 4,395 | 207 | 93 | 215 | 8,341 | 1 | 6 | 2 | 4 | 3 | 7 |
Working Capital Days | 416 | 438 | 547 | 730 | 327 | 339 | 894 | 306 | 469 | 182 | 56 |
ROCE % | 18% | 16% | 16% | 15% | 19% | 8% | 10% | 9% | 16% | 19% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Aug - Arvind SmartSpaces to attend Emkay Confluence investor conference on 13 August 2025.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Aug - Arvind SmartSpaces to attend Antique's investor conference on 22 Aug 2025 in Mumbai.
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Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
8 Aug - AGM held on 8 Aug 2025; all resolutions including dividend and MD re-appointment passed.
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Shareholder Meeting / Postal Ballot-Outcome of AGM
8 Aug - 17th AGM held; financials adopted, dividend declared, directors and auditors appointed, MD re-appointed with remuneration.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
5 Aug - Arvind SmartSpaces appoints new CEO, reports 37% revenue growth, plans Rs.3000-4000 Cr launches in FY26.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2010
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Concalls
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Aug 2025Transcript PPT
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Nov 2021TranscriptNotesPPT
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Oct 2020Transcript PPT
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Oct 2019TranscriptPPT
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Nov 2018TranscriptPPT
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May 2018TranscriptPPT
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Oct 2016TranscriptPPT
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May 2016TranscriptPPT
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