Arvind Smartspaces Q3 Review - Strong Business Development To Increase Long-Term Visibility: Yes Securities

Yes Securities Report

Arvind Smartspaces Ltd.'s achieved quarterly presales of Rs 2.8 billion guided by the Rs 1.54 billion bookings in the Forest Trails, Sarjapura (30% of Phase-I) and collected Rs 1.94 billion in Q3 FY24.

Even with substantial deployment towards the land, the company achieved operating cash flow of Rs 890 million and was Rs 380 million net cash positive for the Q3 FY24. Arvind Smartspaces in year-to-date acquired projects with a gross development value of Rs 41.5 billion and expect to close the year with acquiring plus Rs 50 billion.

Arvind Smartspaces reiterated that there is a possibility of surpassing the growth guidance of 25%-30% for FY24 with the kind of launches planned for Q4 FY24.

Entered Surat market by acquiring ~300 acres land parcel under joint development agreements with potential gross development value of Rs 11 billion and acquired ~40 acres land parcel (outright) in west Ahmedabad with Rs 2.5 billion topline potential.

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