The financial results of Arvind SmartSpaces Limited (ASL) were announced for the quarter and nine months ended December 31, 2022. Bookings increased by 24% YoY in the first nine months of FY23 from Rs. 451 crores to Rs. 558 crores. Revenue from operations increased by 71% YoY from Rs. 96 crores to Rs. 163 crores. It’s EBITDA increased by 6% YoY to Rs. 29 crores from Rs. 27 crores in the previous year. PAT increased by 47% YoY, from Rs. 11 crore to Rs. 16 crores.
The financial results of Arvind SmartSpaces Limited (ASL) were announced for the quarter and nine months ended December 31, 2022. Bookings increased by 24% YoY in the first nine months of FY23 from Rs. 451 Cr. to Rs. 558 Cr. Collections were Rs 412 Cr., down from Rs 434 Cr. the year before. Revenue from operations increased by 71% YoY from Rs. 96 cr. to Rs. 163 cr. It’s EBITDA increased by 6% YoY to Rs. 29 Cr from Rs. 27 Cr in the previous year. PAT increased by 47% YoY, from Rs. 11 Cr. to Rs. 16 Cr.
Summary of the Q3 of FY23, where bookings increased by 58% YoY to Rs. 250 Cr from Rs. 158 Cr the previous year. The collections rose by 8% YoY to Rs. 167 Cr from Rs. 154 Cr compared to the previous year. Operations' revenue increased by 23% YoY to Rs. 53 Cr from Rs. 43 Cr the previous year. EBITDA was Rs. 9 Cr as opposed to Rs. 12 Cr the year before. PAT was 4 Cr compared to 6 Cr the year before.
The decline of Rs 23 Cr during Q3 was mostly caused by greater internal accruals. Net interest-bearing funds as of Dec 31, 2022 was Rs -34 Cr (vs Sep 30, 2022 Rs -11 Cr). The ratio of Net Debt (Interest-bearing Funds) to Equity was 0.08 as of December 31, 2022, compared to 0.03 on September 30, 2022.
The company added 7 acres to their project on Doddaballapur Road. The project now spans 34 acres and has a top line of Rs. 315 crores. Their current project is ASL's ninth project in Bangalore. They started a sizable construction project in South Ahmedabad of which 84 acres had been finished as of now with a top line projected to be worth Rs 150 crore.
Arvind Greatlands, which was introduced on November 26, 2022 during Q2 of FY23 got a fantastic response. The whole inventory that was launched saw bookings totalling Rs. 191 crores in just 10 hours.
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