Arvind SmartSpaces Q4 profit surges 67% to Rs 15 crore

The company has recorded the highest ever annual bookings of Rs 1,107 crore, a growth of 38 per cent year-on-year YoY, Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said.He said the company acquired new projects with an expected topline of Rs 4,150 crore as against Rs 930 crore in FY23.We have added four new projects in Ahmedabad, and one each in Bengaluru and Surat.

Realty firm Arvind SmartSpaces Ltd on Monday reported 67 per cent increase in net profit to Rs 15.49 crore for the quarter ended March on higher income.

Its net profit stood at Rs 9.30 crore in the year-ago period.

Total income rose to Rs 120.10 crore in the quarter from Rs 94.37 crore a year ago.

During 2023-24 fiscal year, the company's net profit increased to Rs 41.57 crore from Rs 25.60 crore in the preceding year.

Total income went up to Rs 350.87 crore from Rs 263.25 crore in 2022-23.

On operational front, the company's sale bookings rose 38 per cent to Rs 1,107 crore in 2023-24 from Rs 802 crore in the previous year.

''FY24 has been a landmark year of the company with milestones achieved across bookings, collections and business development. The company has recorded the highest ever annual bookings of Rs 1,107 crore, a growth of 38 per cent year-on-year (YoY),'' Kamal Singal, Managing Director and CEO, Arvind SmartSpaces said.

He said the company acquired new projects with an expected topline of Rs 4,150 crore as against Rs 930 crore in FY23.

''We have added four new projects in Ahmedabad, and one each in Bengaluru and Surat. We look forward to sustaining this momentum in the coming year as well,'' Singal said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)