Arkade Developers Ltd.
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ABOUT
AI Sector View
AI GENERATEDRealty
Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.
PROS
- Company has a healthy return on capital (ROCE) of 34.2%
- Company has a good return on equity (ROE) track record: 3 Years ROE 34.0%
- Company has consistently been profitable over the last 5 years
- Company comfortably covers its interest (121.6x coverage)
- Attractively priced for its growth - PEG of 0.4
- Company maintains a comfortable, low leverage position
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Recent results are weak - TTM profit is down 103.5% versus prior year
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.65x)
- Equity base is being diluted - shares outstanding up 9183.2%
- Working capital days have increased from 183 to 490 days
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLF | 674.55 | 37.56 | 166972.15 | 1.19 | 793.90 | -89.59 | 1280.34 | -52.87 | 6.81 | 49.68 |
| LODHA | 1194.45 | 28.93 | 119352.22 | 0.36 | 1373.10 | 103.39 | 4996.70 | 43.10 | 16.89 | 38.51 |
| OBEROIRLTY | 1880.00 | 25.99 | 68357.22 | 0.43 | 543.51 | 29.02 | 1300.89 | 31.73 | 17.69 | 56.75 |
| PHOENIXLTD | 1887.00 | 52.73 | 67491.14 | 0.13 | 394.51 | 22.95 | 1074.94 | 12.80 | 13.70 | 59.77 |
| PRESTIGE | 1566.50 | 59.24 | 67473.89 | 0.13 | 271.40 | -12.87 | 2675.10 | 15.94 | 11.51 | 31.75 |
| GODREJPROP | 1983.90 | 37.35 | 59760.32 | 0.50 | 349.38 | -41.61 | 506.17 | 16.48 | 8.37 | -57.98 |
| ANANTRAJ | 587.45 | 36.54 | 21140.97 | 0.17 | 149.19 | 18.50 | 631.40 | 6.58 | 12.23 | 29.53 |
| BRIGADE | 645.60 | 30.31 | 21063.30 | 0.23 | 216.94 | 37.35 | 1115.55 | -12.93 | 11.02 | 32.33 |
| ABREL | 1358.75 | 114.75 | 15176.65 | 0.18 | -34.59 | -27.73 | 188.85 | 30.95 | -4.54 | -30.02 |
| SOBHA | 1247.85 | 57.87 | 13346.23 | 0.48 | 50.85 | 273.37 | 1278.15 | 50.03 | 6.96 | 6.07 |
| SIGNATURE | 777.05 | 10.47 | 10932.01 | 0.00 | -16.53 | -148.00 | 551.99 | -36.24 | 5.56 | -8.10 |
| ARKADE | 120.90 | 0.00 | 2244.67 | 0.00 | 19.08 | -33.65 | 146.97 | -7.83 | 30.68 | 18.91 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 62 | 211 | 239 | 123 | 125 | 202 | 225 | 131 | 159 | 264 | 197 | 197 | 147 | |
| 52 | 146 | 173 | 96 | 83 | 143 | 164 | 87 | 125 | 200 | 143 | 159 | 123 | |
| Operating Profit | 10 | 65 | 66 | 27 | 42 | 59 | 62 | 44 | 34 | 63 | 54 | -326 | 28 |
| OPM % | 15.85% | 30.67% | 27.58% | 21.96% | 33.47% | 29.12% | 27.63% | 33.82% | 21.48% | 23.98% | 27.48% | -166.08% | 18.91% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 2 | 7 | 3 | 6 | 1 | 2 | 2 | 2 |
| Interest | 0 | 1 | 0 | 2 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 |
| 10 | 64 | 66 | 25 | 41 | 59 | 67 | 46 | 38 | 62 | 53 | -145 | 26 | |
| Tax % | 29.41% | 25.27% | 26.80% | 22.50% | 26.18% | 25.68% | 24.85% | 26.81% | 24.95% | 25.58% | 24.46% | 24.57% | 26.92% |
| Net Profit | 0 | 0 | 0 | 0 | 30 | 43 | 50 | 33 | 29 | 46 | 40 | -110 | 19 |
| 0 | 3 | 3 | 1 | 2 | 3 | 3 | 2 | 2 | 2 | 2 | -6 | 0 | |
| Equity Capital | 2 | 152 | 152 | 152 | 152 | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 108 | 229 | 220 | 635 | 683 | 804 | |
| 82 | 174 | 153 | 467 | 477 | 625 | |
| Operating Profit | 31 | 63 | 71 | 168 | 218 | — |
| OPM % | 29 | 27 | 32 | 27 | 32 | — |
| Other Income | 5 | 8 | 4 | 1 | 12 | 8 |
| Interest | 1 | 4 | 8 | 3 | 2 | 1 |
| Depreciation | 0 | 0 | 0 | 1 | 5 | 11 |
| 29 | 66 | 67 | 165 | 211 | -4 | |
| Tax % | 25 | 22 | 24 | 26 | 26 | -5 |
| Net Profit | 22 | 51 | 51 | 123 | 157 | -4 |
| EPS | 1 | 3 | 3 | 8 | 8 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | -1 | -0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | -0 |
| Adjusted EPS | 1 | 3 | 3 | 8 | 8 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 44%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 46%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -32%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 33%
- 3 Years:
- 34%
- Last Year:
- 26%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - |
| Equity Capital | 2 | 2 | 2 | 152 | 186 |
| 97 | 147 | 198 | 171 | 698 | |
| 14 | 63 | 70 | 40 | 38 | |
| Trade Payables | 22 | 14 | 24 | 38 | 46 |
| 214 | 143 | 261 | 173 | 281 | |
| Total Liabilities | 350 | 370 | 555 | 574 | 1,249 |
| ASSETS | - | - | - | - | - |
| 0 | 2 | 2 | 14 | 19 | |
| 114 | 40 | 17 | 18 | 138 | |
| 204 | 299 | 501 | 488 | 906 | |
| 0 | 0 | 0 | 8 | 35 | |
| Cash & Bank | 12 | 10 | 18 | 25 | 134 |
| 20 | 20 | 18 | 22 | 17 | |
| Total Assets | 350 | 370 | 555 | 574 | 1,249 |
| Total Debt | 14 | 64 | 149 | 69 | 113 |
| Net Working Capital | 83 | 132 | 253 | 318 | 917 |
| Contingent Liabilities | 20 | 29 | 32 | 56 | 69 |
| Book Value per Share | 495.70 | 747.48 | 1001.59 | 21.28 | 47.60 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 145 | -123 | -99 | 101 | -218 | |
| Cash from Investing | -98 | 76 | 29 | -12 | -229 |
| Cash from Financing | -50 | 45 | 84 | -83 | 445 |
| -3 | -2 | 14 | 6 | -1 | |
| Free Cash Flow | 145 | -124 | -99 | 89 | -227 |
| OCF / Net Profit | 6.68 | -2.42 | -1.94 | 0.83 | -1.39 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| PER SHARE | |||||
| EPS (₹) | 105.95 | 252.37 | 253.91 | 8.09 | 8.45 |
| Book Value (₹) | 495.70 | 747.48 | 1001.59 | 21.28 | 47.60 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 1.44 | 3.35 | 3.36 | 8.16 | 8.72 |
| PROFITABILITY | |||||
| Operating Margin % | 28.73% | 27.38% | 32.15% | 26.38% | 30.17% |
| Net Margin % | 20.06% | 22.21% | 23.06% | 19.36% | 22.97% |
| ROE % | 21.91% | 40.90% | 29.02% | 46.94% | 26.00% |
| ROCE % | 26.94% | 42.79% | 26.52% | 45.34% | 30.68% |
| 6.21% | 14.14% | 10.98% | 21.76% | 17.21% | |
| EFFICIENCY | |||||
| Debtor Days | 43 | 14 | 7 | 3 | 11 |
| Inventory Days | 688 | 401 | 663 | 284 | 372 |
| Payable Days | 123 | 44 | 59 | 28 | 40 |
| 608 | 372 | 611 | 259 | 344 | |
| FINANCIAL HEALTH | |||||
| Debt to Equity (x) | 0.14x | 0.43x | 0.74x | 0.21x | 0.13x |
| Interest Coverage (x) | 23.42x | 16.15x | 9.45x | 53.80x | 121.56x |
| 1.33x | 1.60x | 1.92x | 2.45x | 4.17x | |
| GROWTH | |||||
| Revenue Growth % | 0.00% | 111.45% | -3.84% | 188.32% | 7.62% |
| Operating Profit Growth % | 0.00% | 101.51% | 12.89% | 137.96% | 29.20% |
| Net Profit Growth % | 0.00% | 134.11% | -0.15% | 142.12% | 27.67% |
| 0.00% | 0.00% | 0.00% | -96.81% | 4.50% | |
| VALUATION | |||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 17.88x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 3.17x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 1.17x | 12.80x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-31 - Arkade Developers Limited has informed the Exchange about Intimation of dispatch letters to shareholders whose email id is not registered
2026-08-29 - Arkade Developers Limited has informed the Exchange about Copy of Newspaper Publication regarding Notice of the 40th AGM to be held on September 22, 2026
2026-08-27 - Arkade Developers Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 22, 2026
2026-08-25 - Arkade Developers Limited has informed the Exchange about Copy of Newspaper Publication regarding the 40th Annual General Meeting of the Company.
2026-08-25 - Arkade Developers Limited has informed the Exchange about Intimation related to Occupation Certificate (OC)
2026-08-19 - Arkade Developers Limited has informed the Exchange regarding a press release dated August 19, 2026, regarding "Business Update".
2026-08-17 - Arkade Developers Limited has informed the Exchange about Transcript of Investor Meet
2026-08-12 - Arkade Developers Limited has informed the Exchange about Link of Audio Recording of Investor meet
2026-08-12 - Arkade Developers Limited has informed the Exchange about Investor Presentation
News
Recent coverage and analyst commentary for ARKADE
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