Arvind Smartspaces (ASL) has repored a dip of 14.53 per cent in its net profit during the quarter ended December 31, 2022. Its profit after tax (PAT) stood at Rs 5.06 crore in Q3 FY23 as against Rs 5.92 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s consolidated total income stood at Rs 55.22 crore in Q3 FY23, a growth of 22.90 per cent from Rs 44.93 crore it recorded in the similar quarter last year.
Kamal Singal, managing director and CEO of the company said, “We have achieved significant operational milestonesin Q3 FY23. It has been our best ever quarter in terms of both booking value and collections. Despite increased investments in Business Development activities our net debt decreased further to Rs (34) crore on account of significant increase in internal accruals.”
“The real estate sector continues to showcase buoyancy with all parameters including sales, launches and prices appreciating across the top cities in CY22. In the coming quarters, we look forward to build on our business development intensity in our core markets of Bengaluru, Ahmedabad, Pune and MMR to create long term value for all our stakeholders,” added Singal.
During the said quarter, sales bookings grew by 58% year-on-year from Rs. 158 crore to Rs 250 crore while collections increased by 8% year-on-year at Rs. 167 crore as against Rs. 154 crore in Q3 FY22, the company said in the regulatory filing.
