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 ₹ 2,779 Cr.
- Current Price ₹ 606
- High / Low ₹ 757 / 487
- Stock P/E 37.9
- Book Value ₹ 130
- Dividend Yield 0.99 %
- ROCE 19.0 %
- ROE 18.8 %
- Face Value ₹ 10.0
Pros
- 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%
- Promoter holding has increased by 4.01% over last quarter.
- Company's median sales growth is 32.1% of last 10 years
- Company's working capital requirements have reduced from 236 days to 56.2 days
Cons
- Stock is trading at 4.65 times its book value
- Company has a low return on equity of 11.2% over last 3 years.
* 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
Part of BSE Allcap BSE Consumer Discretionary
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 | 572 | |
| 62 | 80 | 114 | 137 | 194 | 211 | 109 | 208 | 207 | 229 | 545 | 446 | |
| Operating Profit | 25 | 35 | 44 | 61 | 68 | 89 | 41 | 49 | 49 | 112 | 168 | 126 |
| OPM % | 29% | 31% | 28% | 31% | 26% | 30% | 27% | 19% | 19% | 33% | 24% | 22% |
| 0 | 2 | 1 | 4 | 2 | 2 | 2 | 7 | 7 | 9 | 23 | 23 | |
| Interest | 8 | 9 | 12 | 15 | 21 | 24 | 27 | 17 | 14 | 41 | 21 | 27 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 4 | 5 | 6 |
| Profit before tax | 17 | 27 | 32 | 48 | 48 | 65 | 14 | 38 | 40 | 76 | 165 | 116 |
| Tax % | 39% | 38% | 33% | 35% | 35% | 37% | 38% | 34% | 30% | 33% | 28% | |
| 10 | 17 | 22 | 31 | 31 | 41 | 9 | 25 | 28 | 51 | 119 | 81 | |
| 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 | 16.00 |
| 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: | -14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 25% |
| 5 Years: | 21% |
| 3 Years: | 60% |
| TTM: | -31% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 45% |
| 3 Years: | 25% |
| 1 Year: | -14% |
| 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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 26 | 28 | 32 | 35 | 36 | 36 | 42 | 45 | 45 | 46 | 46 |
| Reserves | 116 | 118 | 166 | 263 | 219 | 253 | 276 | 397 | 421 | 449 | 552 | 552 |
| 31 | 92 | 93 | 161 | 171 | 218 | 189 | 30 | 146 | 110 | 285 | 170 | |
| 105 | 120 | 145 | 140 | 352 | 291 | 425 | 667 | 898 | 1,497 | 1,783 | 1,941 | |
| Total Liabilities | 262 | 355 | 433 | 596 | 777 | 798 | 926 | 1,136 | 1,511 | 2,102 | 2,666 | 2,709 |
| 3 | 10 | 10 | 10 | 10 | 9 | 9 | 43 | 46 | 53 | 58 | 59 | |
| CWIP | 0 | 0 | 11 | 12 | 14 | 20 | 39 | 13 | 17 | 19 | 25 | 31 |
| Investments | 0 | 0 | 2 | 2 | 2 | 1 | 1 | 0 | 83 | 103 | 186 | 163 |
| 259 | 345 | 410 | 572 | 752 | 767 | 876 | 1,080 | 1,364 | 1,927 | 2,397 | 2,457 | |
| Total Assets | 262 | 355 | 433 | 596 | 777 | 798 | 926 | 1,136 | 1,511 | 2,102 | 2,666 | 2,709 |
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 |
| Free Cash Flow | 54 | 25 | -24 | -150 | 9 | -22 | 80 | 151 | -111 | 15 | -99 |
| CFO/OP | 252% | 99% | -17% | -217% | 36% | -3% | 224% | 359% | -132% | 41% | -19% |
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% |
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 | |
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| Booking Value INR Cr |
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Extracted by Screener AI
Documents
Announcements
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Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
13 Apr - Arvind SmartSpaces confirms it is not a Large Corporate for FY 2026-27; outstanding borrowings were Rs. 458.70 crore.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
10 Apr - Arvind SmartSpaces to hold one-to-one virtual investor meeting with FSSA on 14 April 2026.
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Announcement under Regulation 30 (LODR)-Acquisition
7 Apr - Arvind SmartSpaces signs Mumbai project with ~Rs.2,400 Cr potential; subsidiary acquires 49% ONRPL, sells 13% ASPL stake.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Apr - Submitted Regulation 74(5) certificate for quarter ended 31 March 2026.
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Closure of Trading Window
30 Mar - Trading window closed from 1 April 2026 until 48 hours after audited FY2026 results announcement.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2016
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Financial Year 2010
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Concalls
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Feb 2026Transcript PPT
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Nov 2021TranscriptAI SummaryPPT
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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