Arvind SmartSpaces FY26 bookings surge 22% to INR1,550 crores
Arvind SmartSpaces Limited achieved its highest annual booking value of INR1,550 crores in FY26, a 22% increase from the previous year, driven by strong demand and new launches. New launches contributed nearly 60% of total bookings. The company reported net operating cash flows of INR417 crores and recommended a final dividend of INR2.25 per share. While annual revenue declined to INR564 crores due to project timing, Q4 performance showed significant recovery with a 103% surge in PAT. For FY27, the company targets business development of INR4,000-5,000 crores and plans to launch six projects.
*this image is generated using AI for illustrative purposes only.
Arvind SmartSpaces Limited achieved its highest annual booking value of INR1,550 crores in FY26, representing a 22% year-on-year growth, driven by sustained demand across its portfolio and excellent traction in newly launched projects. New launches contributed nearly 60% of annual bookings, amounting to approximately INR930 crores. The company’s net operating cash flows stood at INR417 crores during the year, reinforcing the resilience of its business model. The Board of Directors has recommended a final dividend of INR2.25 per equity share of face value INR10 each.
Operational Performance
Bengaluru emerged as a key growth engine, contributing INR485 crores and accounting for 31% of annual bookings. The company launched Arvind Skycrest in Bannerghatta and Arvind Greenfields in Vadodara during Q4 FY26. The Bannerghatta project achieved bookings of 164 units amounting to INR262 crores within a week, while the Vadodara project recorded bookings of 323 units amounting to INR178 crores. On the business development front, the company added projects with an estimated cumulative top line potential of INR3,140 crores. Subsequent to the year-end, it signed its largest high-rise project in Mumbai with an estimated potential of approximately INR2,400 crores.
Financial Highlights
For FY26, the company reported revenues of INR564 crores compared to INR713 crores in the previous year. Adjusted EBITDA stood at INR156 crores against INR196 crores, while profit after tax (PAT) was INR103 crores versus INR119 crores in FY25. The decline in annual revenue was attributed to the timing of revenue recognition for certain projects. Q4 FY26 performance was strong, with revenue at INR155 crores. Adjusted EBITDA grew 26% year-on-year to INR56.4 crores, and PAT surged 103% to INR44 crores from INR21.8 crores in the corresponding quarter last year.
| Metric | FY26 | FY25 |
|---|---|---|
| Revenue (INR crores) | 564 | 713 |
| Adjusted EBITDA (INR crores) | 156 | 196 |
| PAT (INR crores) | 103 | 119 |
| Net Operating Cash Flow (INR crores) | 417 | - |
Outlook and Guidance
Looking ahead, the company estimates unrealized operating cash flows exceeding INR4,970 crores to be realized over the next 4 to 5 years. For FY27, the management has guided for business development of INR4,000 crores to INR5,000 crores. The company expects to launch six projects during the year, with inventory rollout estimated between INR3,000 crores and INR3,500 crores. It aims to maintain a net debt-to-equity ratio below 1:1 and targets EBITDA margins of 22% to 25% for new sales.
Historical Stock Returns for Arvind SmartSpaces
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.37% | -6.22% | -7.07% | -2.37% | -14.79% | +449.50% |
How will the recent signing of the largest high-rise project in Mumbai impact the company's geographical revenue mix in the coming years?
What specific strategies will the company employ to bridge the gap between the realized operating cash flows and the estimated INR4,970 crores in unrealized flows over the next 4-5 years?
Given the decline in annual revenue attributed to project timing, when does management expect the revenue recognition to normalize and align with the strong booking growth?
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