Arvind Smartspaces has reported a growth of 293.35 per cent in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 42.60 crore in Q2 FY25 as against Rs 10.83 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 269.28 crore in Q2 FY25, a growth of 257.75 per cent from Rs 75.27 crore it recorded in the similar quarter last year.
Kamal Singal, managing director and CEO of the company said, “Our operations cycle remains strong with operating cash flows of Rs 106 crore during the quarter and Rs 203 crore during the half year. the cumulative new business development topline potential stands at more than Rs 1,010 crore for the current year to date.”The company’s bookings grew by 26% year-on-year to Rs 464 crore as against Rs 369 crore it registered last year. Collections stood at Rs 249 crore in Q2 FY25 as against Rs 263 crore previous fiscal.
Its net debt (Interest bearing funds) decreased to Rs (195) crore as on September 30, 2024 from net debt of Rs (58) crore as on June 30, 2024. Net debt (Interest-bearing funds) to equity ratio stood at (0.37) as on September 30, 2024 as against (0.12) as on June 30, 2024.
The company acquired new high-rise project in ITPL Road, Bengaluru with a top-line potential of Rs 600 crore. The project is spread across 2.9 acre, has a saleable area of 4.2 lakh sq ft and is undertaken on joint development basis.
