Arvind Smartspaces Share Price Hits Record High As Axis Securities Initiates 'Buy'

Shares of Arvind Smartspaces Ltd. advanced over 19% to hit an all time high as Axis Securities Ltd. initiated coverage on the company with a 'buy' rating. The brokerage set a target price of Rs 1,085 per share, valuing the company at eight times the enterprise value to Ebitda ratio for fiscal 2026 and reflecting a potential upside of 43% from the current market price.

That is the second-highest price target so far, among the analysts tracked by Bloomberg.

Key investment highlights include ASL's robust project pipeline of 47.97 million square feet, with 72% following an asset-light model. The company's unsold inventory represents around 69% of its total portfolio, indicating strong launch visibility and booking potential for the upcoming year, according to the report.

ASL is positioned to achieve 30-35% growth guidance in business development, and is expected to have faster project turnaround with focus on JV projects and horizontal developments, the brokerage said. It predicts a potential cash visibility of Rs 1,000 crore for the company.

Arvind Smartspaces is strategically expanding into new markets, including Pune, Mumbai and Surat, to further de-risk its portfolio, Axis said. ASL's low leverage, combined with strong cash flows and strategic partnerships, positions the company for sustainable growth in the coming years, claimed the report.

Shares of the company rose as much as 19.28%, its highest level since listing. They pared gains to trade 18.95% higher at Rs 897.50 apiece, as of 02:27 p.m. This compares to a 0.16% advance in the NSE Nifty 50.

The stock has risen 109.53% year-to-date. Total traded volume so far in the day stood at 38 times its 30-day average. The relative strength index was at 75.8.

Five analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 15.8%.