Arihant Foundations Reports Strong Q1 Results, Expands Portfolio with Strategic Acquisitions

Arihant Foundations & Housing Limited , a prominent real estate developer with a 40-year legacy in Chennai, has announced impressive financial results for the first quarter, along with significant strategic moves to expand its portfolio.

Robust Financial Performance

The company reported substantial year-over-year growth in its Q1 financial results:

This strong performance demonstrates Arihant Foundations' ability to capitalize on the growing real estate market in Chennai and its surrounding areas.

Operational Highlights

During the quarter, Arihant Foundations achieved notable operational milestones:

• Sales Value: ₹99.30 crores
• Area Sold: 94,671 sq ft
• Realization: ₹10,493 per sq ft

These figures indicate a robust demand for the company's properties and its ability to command premium pricing in the market.

Strategic Expansion and Partnerships

Arihant Foundations has made significant strides in expanding its portfolio and forging strategic alliances:

1. Land Acquisitions: The company acquired two prime land parcels with a combined Gross Development Value (GDV) of ₹2,800 crores. This move significantly enhances Arihant's land bank and sets the stage for future growth.

2. Partnership with Prestige Estates: A strategic partnership has been signed with Prestige Estates for the development of large projects across various real estate segments in Chennai. This collaboration is expected to leverage the strengths of both companies and accelerate Arihant's growth in the region.

Ongoing Projects and Future Outlook

Arihant Foundations currently has ongoing projects totaling 4.5 million sq ft with a GDV of ₹6,000 crores. These projects span across commercial, residential, and senior living segments, showcasing the company's diversified portfolio.

The company's business model, which involves 95% joint ventures, has allowed it to maintain an asset-light approach while leveraging its expertise in project development and execution.

Management Commentary

Arun Rajan, Chief Executive Officer of Arihant Foundations & Housing Limited, stated, "Our strong Q1 results reflect the robustness of our business model and the growing demand for quality real estate in Chennai. The strategic land acquisitions and our partnership with Prestige Estates position us well for sustained growth. We remain committed to creating memorable spaces and delivering value to our stakeholders."

With its strong financial performance, strategic expansions, and a solid pipeline of projects, Arihant Foundations & Housing Limited appears well-positioned to capitalize on the opportunities in the real estate market and continue its growth trajectory.