ARVSMART

Arvind SmartSpaces share price & financials

Price
₹610.7
Market cap
₹3.0k Cr
Sector
Realty
Calls analysed
7
Latest concall · Q1 FY27 · call held 07 Aug 2026

Arvind SmartSpaces Limited Q1 FY27

Revenue ₹318 cr +212%Adjusted EBITDA ₹150 cr +500%PAT ₹97 cr +708%

What went well

  • Presales of INR432 crores, a 147% YoY growth, indicating strong demand.
  • Collections grew 76% YoY to INR336 crores, reflecting healthy cash flow generation.
  • Adjusted EBITDA significantly increased to INR150 crores from INR25 crores, demonstrating improved profitability.

What to watch

  • Anticipated moderation in real estate price increases after significant appreciation in previous years.
  • Revenue recognition remains sporadic due to its dependence on project approvals.
Read the full call →

What Arvind SmartSpaces Limited does

Arvind SmartSpaces Limited is the real estate development arm of the Ahmedabad-based Lalbhai (Arvind) Group, building horizontal (plots, villas, townships) and vertical (apartments, high-rises) residential projects along with commercial and industrial space. It operates chiefly in Ahmedabad, Bengaluru and Mumbai, taking on projects both on owned land and through joint-development/joint-venture arrangements with landowners in exchange for a revenue or profit share. It earns by developing and selling residential units (luxury, mid-market and affordable) and commercial/industrial space, and also runs a residential-development investment platform set up with HDFC Capital Advisors.

Segments

  • Residential
  • Commercial / Industrial
Total project portfolio (saleable area)
~97.6 million sq ft across completed, ongoing and planned projects (as of March 2026)
Projects across all stages
49 projects — 16 completed, 16 under execution, 17 planned
Operating markets
3 major realty markets: Ahmedabad, Bengaluru and Mumbai (plus adjoining Vadodara)
Completed (delivered) project area
~9.8 million sq ft across 16 completed projects
Portfolio mix by use
Residential ~90% / Commercial & industrial ~10% of the project portfolio
Portfolio mix by format
Horizontal (plots/villas/townships) ~80% / Vertical (apartments/high-rises) ~20%
Founded 2008Headquarters AhmedabadEmployees 434 (March 31, 2025) Company website

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 1 delivered 7 missed 7 open
  • Debt-to-Equity Ratio delivered said Q3 FY26 Promised: Below 1:1 Q1 FY27: Net Debt-to-Equity ratio stood at 0.29, remaining well below the 1:1 limit.
  • FY25 Annual Sales Growth missed said Q3 FY25 Promised: 25-30% growth over previous year Q1 FY27: Promise period concluded in FY25.
  • Long-term EBITDA Margin on track said Q3 FY25 Promised: Around 25% Q1 FY27: Reiterated long-term guidance of 22-25%. Q1 Adj. EBITDA margin was 47%, well above target range.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 211.8%, net profit up 708.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue266 210 163 102 141 −47%166 −21%155 −5%318 +212%
EBITDA66 59 34 21 30 −55%42 −29%59 +74%156 +643%
Net profit43 50 22 12 18 −58%29 −42%44 +100%97 +708%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −4.2% 1Y

₹500₹550₹600₹650₹700Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 4 Nov 2025Q3 FY26 — 11 Feb 2026Q4 FY26 — 21 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹624.5 on 10 Sept 2025 → ₹598.05. High ₹694.85 (24 Aug 2026), low ₹501.35 (9 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+7.9%
7 Aug
Q4 FY26
+2.1%
21 May
Q3 FY26
−3.9%
11 Feb
Q2 FY26
−1.9%
4 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 30.1% a year over 3 years, FY23 to FY26. Operating margin widened to 27.0%.

Year endingFY23FY24FY25FY26
Revenue₹256 Cr₹341 Cr₹713 Cr₹564 Cr
Operating profit₹49 Cr₹111 Cr₹168 Cr₹152 Cr
Operating margin19.1%32.6%23.6%27.0%
Interest₹14 Cr₹41 Cr₹21 Cr₹31 Cr
Depreciation₹4 Cr₹4 Cr₹4 Cr₹7 Cr
Net profit₹27 Cr₹52 Cr₹120 Cr₹103 Cr
Net margin10.5%15.2%16.8%18.3%
Cash from operations₹-101 Cr₹30 Cr₹-84 Cr₹-170 Cr
Free cash flow₹-111 Cr₹15 Cr₹-99 Cr₹-217 Cr
ROCE9.0%16.0%19.0%12.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹36 Cr₹42 Cr₹45 Cr₹45 Cr₹46 Cr₹46 Cr
Reserves₹276 Cr₹397 Cr₹421 Cr₹449 Cr₹552 Cr₹603 Cr
Borrowings₹189 Cr₹30 Cr₹146 Cr₹110 Cr₹170 Cr₹583 Cr
Other liabilities₹425 Cr₹667 Cr₹898 Cr₹1.5k Cr₹1.9k Cr₹2.4k Cr
Total liabilities₹926 Cr₹1.1k Cr₹1.5k Cr₹2.1k Cr₹2.7k Cr₹3.6k Cr
Fixed assets₹9 Cr₹43 Cr₹46 Cr₹53 Cr₹59 Cr₹60 Cr
Capital work in progress₹39 Cr₹13 Cr₹17 Cr₹19 Cr₹31 Cr₹62 Cr
Investments₹1 Cr₹0 Cr₹83 Cr₹103 Cr₹163 Cr₹121 Cr
Other assets₹876 Cr₹1.1k Cr₹1.4k Cr₹1.9k Cr₹2.5k Cr₹3.3k Cr
Total assets₹926 Cr₹1.1k Cr₹1.5k Cr₹2.1k Cr₹2.7k Cr₹3.6k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs trimmed −4.89 pp while promoters added +3.87 pp. The shareholder count shrank 4% to 92,477.

Promoters
53.8%
FIIs
0.7%
DIIs
9.0%
Public
36.5%

Since Jun 2025

  • DIIs −4.89 pp
  • Promoters +3.87 pp
  • Public +1.95 pp

How it drifted, 12 quarters

Over this window promoters went from 50.5% to 53.8% — +3.3 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 50.5%, FIIs 0.8%, DIIs 11.6%, Public 37.0%.Dec '23: Promoters 50.5%, FIIs 0.5%, DIIs 11.7%, Public 37.3%.Mar '24: Promoters 50.5%, FIIs 0.4%, DIIs 13.5%, Public 35.5%.Jun '24: Promoters 50.4%, FIIs 1.8%, DIIs 12.3%, Public 35.5%.Sep '24: Promoters 50.3%, FIIs 2.5%, DIIs 12.8%, Public 34.4%.Dec '24: Promoters 50.3%, FIIs 2.6%, DIIs 12.9%, Public 34.2%.Mar '25: Promoters 50.3%, FIIs 2.0%, DIIs 12.7%, Public 35.1%.Jun '25: Promoters 50.0%, FIIs 1.6%, DIIs 13.9%, Public 34.5%.Sep '25: Promoters 49.8%, FIIs 1.0%, DIIs 14.7%, Public 34.5%.Dec '25: Promoters 49.8%, FIIs 0.8%, DIIs 15.8%, Public 33.5%.Mar '26: Promoters 53.8%, FIIs 0.7%, DIIs 8.6%, Public 36.9%.Jun '26: Promoters 53.8%, FIIs 0.7%, DIIs 9.0%, Public 36.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Arvind SmartSpaces Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Aura Securities Private Limited 44.80%unchanged
Bandhan Small Cap Fund Mutual fund6.31%+0.70 pp
Ketan Ratilal Patel 5.70%unchanged
Aura Business Ventures LLP 3.49%unchanged
Kausalya Realserve LLP 3.12%unchanged
Aura Merchandise Private Limited 2.67%unchanged
Pirojsha Adi Godrej 1.90%unchanged
Aml Employee Welfare Trust 1.38%unchanged
Aagam Holdings Private Limited 1.37%unchanged
Shah Aadarsh Utkarsh 1.05%unchanged
ICICI Prudential Equity Opportunities Fund Mutual fund1.01%unchanged
ASL ESOP Trust 1.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Arvind SmartSpaces Limited

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