Realty conglomerate Arvind Smartspaces hits 86% profit in Q4of FY2024

Arvind SmartSpaces Ltd, a real estate company, announced on Monday  that its net profit for the fourth quarter ending on March 31, 2024, surged by 85.7% year-on-year to Rs.19.5 crore.

During the corresponding quarter, Arvind SmartSpaces disclosed a net profit of Rs.10.5 crore, according to a regulatory filing. The company's revenue from operations surged by 26.6% to Rs.117.4 crore from Rs 92.7 crore in the corresponding period of the previous fiscal year.

Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, exclaimed,"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 Rs.1,107 crore, a growth of 38 per cent year-on-year (YoY)."

He also added that,In the fiscal year of 2023, the company obtained fresh ventures, projecting a total revenue of Rs.4,150 crore, a significant increase from the previous year's Rs.930 crore.

He further quoted, "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." 

Arvind SmartSpaces, successfully retained the quality of their craft and the joy it brings to your life is a matter of pride for them. They believe in first delivering impeccable quality, and therefore, delivering pure joy to their valued customers. Having already established themselves in the states of Gujarat and Karnataka, they have ambitious plans to further expand their footprint in strategic cities across India.

The market hours concluded before the results were released. Arvind Smartspaces Ltd's shares closed at Rs.665.80 on the BSE, marking a decrease of Rs.7.45 or 1.11%.