Arvind Smartspaces Limited (ARVSMART)

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Arvind Smartspaces Limited (ARVSMART) · mywealthgrid

About

Arvind Smartspaces develops residential and commercial real estate projects in India's discretionary housing segment. The company has a market capitalization of ₹3,009.2 Cr and trades at a PE of 16.33. Consolidated revenue reached ₹317.63 Cr in Jun 2026, though quarterly profitability has been volatile.

Face value: ₹10

Market cap

₹2,720 Cr

P/E

14.8×

P/B

4.2×

Dividend yield

0.4%

ROE

15.5%

ROCE

13.5%

Debt / equity

0.89

OPM

26.9%

EPS (TTM)

₹40.2

Book value

₹141.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Sep 2025: -29.18% OPM, -₹3.78 Cr loss (₹35.67 Cr revenue); recovered to 49.24% OPM by Jun 2026. Verify root cause and sustainability.
OPM range from -29.18% (Sep 2025) to +49.24% (Jun 2026); verify whether project-cycle timing or operational inconsistency.
D/E of 0.89; verify debt maturity, refinance risk, and project cash-flow adequacy for development model.
Residential real estate sector is cyclical and interest-rate sensitive; verify macro conditions, buyer demand, and timing risk for Arvind's portfolio.

Generated analysis · source review pending

Growth drivers

Consolidated revenue recovered to ₹317.63 Cr (49.24% OPM, Jun 2026) post-loss, signaling project-delivery acceleration.
Consolidated ₹317.63 Cr is 3.4× standalone ₹91.98 Cr (Jun 2026); verify subsidiary pipeline contribution and trajectory.
Dividends (2023–2025) evidence sustained cash generation; verify sustainability given leverage and project cycle.
ROE of 15.47% suggests capital earning above cost; verify new-project launches and margin-expansion potential.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹592.5-2.8%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 26.9%
+Profit CAGR of 61.6% over the last 5 years
+Revenue CAGR of 30.5% over the last 5 years

Cons

−Low dividend payout of 5.6% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

74/100

Business quality: 46
Growth: 100
Valuation: 75

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	198	262	299	149	257	256	341	713	564
COGS	81	130	144	14	125	126	92	325	195
Gross profit	118	132	156	135	132	130	249	389	369
	57	64	67	95	83	81	138	220	218
	61	68	89	41	48	49	111	168	152
OPM %	30.7%	25.9%	29.6%	27.2%	18.8%	19.1%	32.7%	23.6%	26.9%
Depreciation	1	1	1	1	2	3	5	5	6
Interest	15	21	24	27	17	14	41	21	31
	4	2	2	2	8	7	10	23	20
Profit before tax	48	48	65	15	38	40	76	165	135
Tax	17	17	24	5	13	12	25	46	32
Tax %	35%	34.8%	37.1%	37.7%	34.2%	29.7%	32.5%	27.9%	23.5%
	31	31	41	9	25	28	51	119	103
PAT margin %	15.9%	11.9%	13.7%	6.1%	9.6%	10.9%	15%	16.7%	18.3%
EPS (₹)	10	8.9	11.1	2.5	6.5	5.8	9.2	24.3	21
EPS adjusted (₹)	—	—	11.1	2.5	5.9	6.1	9.2	24.3	21
	0%	16.9%	0%	0%	0%	56.6%	38.2%	24.7%	10.7%
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	36	36	42	45	45	46	46
Reserves	253	276	397	421	449	552	603
Minority interest	16	39	38	29	132	210	247
	157	165	30	145	107	279	577
	336	411	630	870	1,370	1,584	2,120
Total equity & liabilities	798	926	1,136	1,511	2,102	2,671	3,594
	9	9	43	46	53	58	60
CWIP	20	30	12	16	19	25	62
Investments	1	1	0	83	103	186	121
	767	885	1,080	1,365	1,927	2,402	3,350
Total assets	798	926	1,136	1,511	2,102	2,671	3,594

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	50.5%	52%	90.6%	51.2%	50.9%	73%	54.5%	65.5%
EBITDA margin %	25.9%	29.6%	27.2%	19.1%	19.1%	32.7%	23.6%	26.9%
EBIT margin %	25.5%	29.3%	26.5%	18.5%	18.1%	31.4%	22.9%	25.8%
PAT margin %	11.9%	13.7%	6.1%	9.6%	10.9%	15%	16.7%	18.3%
Working capital
Receivable days	—	1	6	2	4	3	7	10
Inventory days	—	1,682	18,259	2,232	2,779	5,406	1,674	4,169
Payable days	—	174	1,556	167	174	491	210	379
NWC days	—	1,509	16,708	2,066	2,609	4,918	1,471	3,800
Leverage
Current ratio	—	1.7	2.01	1.59	1.56	1.25	1.22	1.21
Debt to EBITDA	—	1.77	4.05	0.6	2.96	0.96	1.66	3.8
Debt to equity	—	0.54	0.53	0.07	0.31	0.22	0.47	0.89
Interest coverage	3.2	3.7	1.5	3.3	3.8	2.8	8.9	5.4
Asset turnover	—	0.38	0.16	0.23	0.17	0.16	0.27	0.16
Return ratios
Return on assets %	—	5.2%	1%	2.2%	1.8%	2.4%	4.5%	2.9%
Return on capital employed %	—	23.7%	9.2%	10.8%	9.3%	17.1%	21%	13.5%
Return on equity %	—	14.2%	2.9%	5.6%	6%	10.3%	19.9%	15.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.43%	50.43%	50.4%	50.27%	50.17%	50.17%	50.27%	49.96%	49.82%	49.82%	53.83%	53.83%
	0.85%	0.49%	0.41%	1.82%	2.51%	2.65%	2.01%	1.6%	1%	0.83%	0.67%	0.69%
	11.61%	11.66%	13.52%	12.34%	12.77%	12.86%	12.65%	13.89%	14.71%	15.82%	8.61%	8.98%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	37.11%	37.42%	35.67%	35.57%	34.55%	34.32%	35.07%	34.55%	34.47%	33.53%	36.89%	36.5%
No. of shareholders	—	—	—	—	—	—	—	—	96,261	94,382	93,140	92,477

Promoter holding up 3.4 percentage points since Sep 2023.

30 deals · 6 Sept 2022 – 23 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
23 Sept 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	2,95,220	₹650.36	₹19.20 Cr
23 Sept 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	2,95,220	₹649.48	₹19.17 Cr
23 Sept 2026	QE SECURITIES LLP	Bulk	NSE	Buy	2,33,716	₹645.06	₹15.08 Cr
23 Sept 2026	QE SECURITIES LLP	Bulk	NSE	Sell	2,26,027	₹648.38	₹14.66 Cr
7 Aug 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	5,43,241	₹658.99	₹35.80 Cr
7 Aug 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	5,43,241	₹660.12	₹35.86 Cr
7 Aug 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	3,09,995	₹664.10	₹20.59 Cr
7 Aug 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	3,09,995	₹664.57	₹20.60 Cr
8 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	4,37,582	₹590.87	₹25.86 Cr
8 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	4,37,582	₹590.36	₹25.83 Cr

1–10 of 30

1 / 3

Mr. Kulin Sanjay LalbhaiNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Punit Sanjay LalbhaiNon-Executive - Non Independent Director
Mr. Priyansh KapoorExecutive Director-CEO-MD
Mr. Kamal SingalExecutive Director
Mr. Nirav Kalyanbhai ShahNon-Executive - Independent Director
Mr. Nilesh Dhirajlal ShahNon-Executive - Independent Director
Mr. Savan GodiawalaNon-Executive - Independent Director
Ms. Vyas PallaviNon-Executive - Independent Director
Mr. Prashant Kumar DasNon-Executive - Independent Director
Mr. Vipul RoongtaNon-Executive - Nominee Director
Mr. Amit ChamariaChief Financial Officer

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F&O

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

0.47%

of the company's equity

All mutual funds

6.9%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
HOUSING OPPORTUNITIES FUND	ICICI Prudential Mutual Fund	2.14 L	14.22	0.52%	0.465%	-53,733

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

128 announcementsExport CSV

1 Oct 2026, 2:49 pmCompany Update

Disclosures under Reg. 29(1) & 29(2) of SEBI (SAST) Regulations, 2011

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	50.5%	52%	90.6%	51.2%	50.9%	73%	54.5%	65.5%
EBITDA margin %	25.9%	29.6%	27.2%	19.1%	19.1%	32.7%	23.6%	26.9%
EBIT margin %	25.5%	29.3%	26.5%	18.5%	18.1%	31.4%	22.9%	25.8%
PAT margin %	11.9%	13.7%	6.1%	9.6%	10.9%	15%	16.7%	18.3%
Working capital
Receivable days	—	1	6	2	4	3	7	10
Inventory days	—	1,682	18,259	2,232	2,779	5,406	1,674	4,169
Payable days	—	174	1,556	167	174	491	210	379
NWC days	—	1,509	16,708	2,066	2,609	4,918	1,471	3,800
Leverage
Current ratio	—	1.7	2.01	1.59	1.56	1.25	1.22	1.21
Debt to EBITDA	—	1.77	4.05	0.6	2.96	0.96	1.66	3.8
Debt to equity	—	0.54	0.53	0.07	0.31	0.22	0.47	0.89
Interest coverage	3.2	3.7	1.5	3.3	3.8	2.8	8.9	5.4
Asset turnover	—	0.38	0.16	0.23	0.17	0.16	0.27	0.16
Return ratios
Return on assets %	—	5.2%	1%	2.2%	1.8%	2.4%	4.5%	2.9%
Return on capital employed %	—	23.7%	9.2%	10.8%	9.3%	17.1%	21%	13.5%
Return on equity %	—	14.2%	2.9%	5.6%	6%	10.3%	19.9%	15.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lodha Developers LimitedLODHALODHA	₹1,10,460 Cr	₹1,20,344 Cr	₹18,181 Cr	₹5,859 Cr	29.5%	₹4,126 Cr	20.6%	20.1%	15.8%	1,405
The Phoenix Mills LimitedPHOENIXLTDPHOENIXLTD	₹69,017 Cr	₹74,313 Cr	₹4,545 Cr	₹2,714 Cr	59.6%	₹1,280 Cr	35.2%	12.4%	11.4%	734
Prestige Estates Projects LimitedPRESTIGEPRESTIGE	₹64,006 Cr	₹78,992 Cr	₹13,053 Cr	₹3,675 Cr	29.2%	₹1,139 Cr	10.3%	13.6%	7.5%	2,755
Oberoi Realty LimitedOBEROIRLTYOBEROIRLTY	₹63,797 Cr	₹66,613 Cr	₹6,322 Cr	₹3,572 Cr	55.9%	₹2,630 Cr	41.7%	17.5%	14.9%	1,581
Godrej Properties LimitedGODREJPROPGODREJPROP	₹48,065 Cr	₹63,680 Cr	₹5,203 Cr	₹-458 Cr	-8.1%	₹1,600 Cr	35.9%	12.5%	10.1%	6,464
Anant Raj LimitedANANTRAJANANTRAJ	₹20,797 Cr	₹21,403 Cr	₹2,551 Cr	₹688 Cr	26.1%	₹579 Cr	22.2%	12%	11.2%	236
Brigade Enterprises LimitedBRIGADEBRIGADE	₹18,579 Cr	₹24,688 Cr	₹5,532 Cr	₹1,465 Cr	25.1%	₹695 Cr	12.7%	11.1%	10.3%	938
Horizon Industrial Parks LimitedHORIZONINDHORIZONIND	₹14,025 Cr	₹20,910 Cr	₹691 Cr	₹531 Cr	76.9%	₹-198 Cr	-29.5%	3.3%	-5.9%	-46
Sobha LimitedSOBHASOBHA	₹12,968 Cr	₹13,970 Cr	₹5,617 Cr	₹364 Cr	6%	₹231 Cr	3.7%	7.4%	4.2%	17,827
Aditya Birla Real Estate LimitedABRELABREL	₹12,293 Cr	₹17,929 Cr	₹450 Cr	₹-375 Cr	-88.2%	₹-116 Cr	-83%	-4.4%	-2.7%	22,467
Sri Lotus Developers And Realty LimitedLOTUSDEVLOTUSDEV	₹11,244 Cr	₹11,374 Cr	₹840 Cr	₹299 Cr	36.5%	₹257 Cr	31.6%	22.3%	16.7%	840
Signatureglobal (India) LimitedSIGNATURESIGNATURE	₹10,376 Cr	₹13,317 Cr	₹2,282 Cr	₹-126 Cr	-1.9%	₹1,044 Cr	42.2%	3.4%	85%	1,407

Date	Category	Subject	Filing
1 Oct 2026, 2:49 pm	Company Update General	Disclosures under Reg. 29(1) & 29(2) of SEBI (SAST) Regulations, 2011	PDF
30 Sept 2026, 5:23 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
28 Sept 2026, 8:24 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
28 Sept 2026, 12:30 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
22 Sept 2026, 8:36 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
18 Sept 2026, 6:27 pm	Company Update Allotment of Equity Shares	Announcement under Regulation 30 (LODR)-Allotment	PDF
11 Sept 2026, 4:28 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
11 Sept 2026, 1:25 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	91	161	-101	31	-84	-170
	-42	29	-82	-28	-109	-6
	-19	-74	95	-3	186	248
Net cash flow	30	116	-87	-1	-8	71
Free cash flow	79	151	-112	15	-99	-217
CFO / Operating profit %	224.1%	327.1%	-206.5%	27.4%	-49.9%	-112.2%

Arvind Smartspaces Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

7

1

Compounded sales growth

Compounded profit growth

Return on equity

Arvind Smartspaces Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends7

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

7

1