Arvind Smartspaces Ltd.

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arvindsmartspaces.comBSE: 539301NSE: ARVSMART

Market Cap₹ 2,737 Cr.

Current Price

High / Low₹ 708 / 487

Stock P/E14.9

Book Value₹ 162

Price to Book3.56

Dividend Yield0.38 %

ROCE15.8 %

ROE16.7 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Realty

Buy

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.

Confidence

75%

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PROS

Company has delivered good profit growth of 62.8% CAGR over last 5 years
Promoters have been increasing their shareholding - up 3.4pp over 2 years
Company has a healthy return on capital (ROCE) of 20.1%
Latest quarter profit grew 714.2% YoY, showing strong momentum
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 30.5% CAGR over last 5 years

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.82x)
Total debt has risen sharply - up 107.1% year on year
Working capital days have increased from 180 to 295 days

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	DLF	655.00	36.47	162132.92	1.22	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1172.00	28.39	117122.07	0.36	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1890.00	52.81	67601.12	0.13	394.51	22.95	1074.94	12.80	15.41	59.77
4.	PRESTIGE	1543.95	58.39	66502.59	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
5.	OBEROIRLTY	1785.00	24.68	64903.00	0.45	543.51	29.02	1300.89	31.73	17.69	56.75
6.	GODREJPROP	1869.00	35.18	56299.23	0.54	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	608.70	37.86	21905.71	0.16	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	651.35	30.58	21250.90	0.23	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1336.50	112.87	14928.13	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1237.20	57.37	13232.33	0.48	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	772.75	10.42	10871.51	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	ARVSMART	596.25	14.85	2736.61	0.38	97.39	714.24	317.63	212.14	15.78	49.24

Detailed Comparison with:

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
	67	73	84	117	74	266	210	163	102	141	166	155	318
	41	39	64	86	65	200	151	130	80	111	125	96	188
Operating Profit	26	34	20	31	9	66	59	34	21	30	42	59	130
OPM %	39.38%	46.58%	23.65%	26.70%	12.33%	24.84%	28.28%	20.60%	21.10%	21.01%	25.01%	38.16%	40.77%
	2	3	2	3	3	4	5	11	5	4	4	8	4
Interest	15	19	3	4	3	5	5	8	8	6	5	12	22
Depreciation	1	1	1	1	1	1	1	1	2	1	2	2	5
Profit before Tax	13	16	18	28	7	64	58	36	17	25	39	54	134
Tax %	30.48%	31.84%	36.44%	31.34%	37.82%	33.27%	14.06%	38.77%	27.91%	28.58%	24.98%	18.68%	27.27%
Net Profit	0	0	0	0	5	43	50	22	12	18	29	44	97
	1.77	1.91	2.07	3.42	0.64	8.95	10.49	4.20	2.44	3.09	6.27	9.63	21.80

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	159	198	262	299	149	257	256	341	713	564	780
	115	137	194	211	109	208	207	230	545	412	520
Operating Profit	44	61	68	89	41	49	49	111	168	152	260
OPM %	27.78%	30.75%	25.94%	29.64%	27.21%	19.12%	19.12%	32.67%	23.58%	26.93%	33.33%
	0	4	2	2	2	8	7	10	23	20	20
Interest	12	15	21	24	27	17	14	41	21	31	45
Depreciation	1	1	1	1	1	2	3	5	5	6	10
Profit before Tax	32	48	48	65	15	38	40	76	165	135	252
Tax %	33.69%	34.96%	34.73%	37.08%	37.73%	34.15%	29.69%	32.52%	27.88%	23.47%	25.20%
Net Profit	21	31	31	41	9	25	28	51	119	103	189
EPS	0.00	9.70	0.00	11.07	2.46	6.30	5.63	9.17	24.25	21.03	—
Dividend Payout %	0.00%	0.00%	17.23%	0.00%	0.00%	0.00%	58.39%	38.18%	24.74%	10.70%	—

COMPOUNDED SALES GROWTH

10 Years:: 17%
5 Years:: 30%
3 Years:: 30%

COMPOUNDED PROFIT GROWTH

10 Years:: 19%
5 Years:: 62%
3 Years:: 56%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 32%
3 Years:: 21%
1 Year:: -4%

RETURN ON EQUITY

10 Years:: 12%
5 Years:: 12%
3 Years:: 16%
Last Year:: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	28	32	35	36	36	42	45	45	46	46
Minority Interest	17	19	10	16	39	38	29	132	210	247
	158	214	219	253	276	389	420	447	545	599
	114	179	171	218	189	30	146	94	231	500
Trade Payables	90	48	59	69	60	57	60	124	187	202
	26	104	251	195	315	554	780	1,234	1,425	1,967
Total Liabilities	433	596	746	787	914	1,111	1,480	2,076	2,645	3,560
	10	10	10	9	9	43	46	53	58	60
Capital Work in Progress	11	12	14	20	39	12	16	19	25	62
	2	2	2	1	1	0	83	103	186	121
	268	351	626	663	694	766	957	1,362	1,489	2,222
	0	0	0	0	0	0	0	3	15	15
Cash & Bank	13	6	6	6	35	153	64	63	56	174
	128	215	88	88	135	136	314	473	815	904
Total Assets	433	596	746	787	914	1,111	1,480	2,076	2,645	3,560

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-7	-132	25	-3	91	174	-65	31	-84	-170
Cash from Investing	1	-1	-0	-7	-42	29	-82	-28	-109	-6
Cash from Financing	27	141	-11	21	-19	-74	95	-3	185	248
	10	-7	0	-1	30	116	-87	-1	-8	71

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.38	50.28	50.28	50.27	49.96	49.82	49.82	53.83	53.83
	1.81	2.51	2.65	2.01	1.60	1.00	0.83	0.67	0.69
	12.32	12.76	12.85	12.64	13.87	14.69	15.81	8.59	8.98
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	35.47	34.45	34.23	35.09	34.57	34.47	33.53	36.91	36.51

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Shareholders meeting

2026-09-11 - Arvind SmartSpaces Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 11, 2026. Further, the company has informed the Exchange regarding voting results.

2026-09-11

Shareholders meeting

2026-09-11 - Arvind SmartSpaces Limited has informed the Exchange about Shareholders meeting

2026-09-11

Credit Rating- New

2026-09-11 - Arvind SmartSpaces Limited has informed the Exchange about Credit Rating- New

2026-08-20

General Updates

2026-08-20 - Arvind SmartSpaces Limited has informed the Exchange about Appointment of Statutory Auditors in the Material Subsidiaries.

2026-08-19

Copy of Newspaper Publication

2026-08-19 - Arvind SmartSpaces Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-18

General Updates

2026-08-18 - Arvind SmartSpaces Limited has informed the Exchange about Intimation of physical letters sent to shareholders

2026-08-18

Record Date

2026-08-18 - Arvind SmartSpaces Limited has informed the Exchange that Record date for the purpose of DI is 28-Aug-2026.

2026-08-18

Shareholders meeting

2026-08-18 - Arvind SmartSpaces Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 11, 2026

2026-08-18

Copy of Newspaper Publication

2026-08-18 - Arvind SmartSpaces Limited has informed the Exchange about Copy of Newspaper Publication

News

Recent coverage and analyst commentary for ARVSMART

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