May 6, 2024: Real estate development company Arvind Smart Spaces Limited (ASL) announced its financial results for the quarter and full year ended Mar 31, 2024.
In an official statement, the company mentioned that in Q4 2024, the bookings grew by 32% YoY at Rs 323 crore versus Rs 244 crore in Q4 the previous year. The collections increased by 14% YoY at Rs 215 crore vs Rs 188 crore in Q4 the previous year. The revenue from operations grew by 27% YoY; Rs 117 crore versus Rs 93 crore in the previous year.
Also, as per the official release, in FY24, the bookings grew by 38% YoY at Rs 1,107 crore versus Rs 802 crore in the previous year. The collections improved by 46%; Rs 876 crore versus Rs 600 crore in the previous year.
Kamal Singal, managing director and CEO, Arvind Smart Spaces commented, “We are pleased to share that FY24 has been a landmark year of the company with milestones achieved across bookings, collections and business development. The company has recorded the highest ever annual bookings of Rs 1,107 crore, a growth of 38% YoY. Our new launches including Uplands 2.0 & 3.0, Forest Trails, Arvind Orchards and Rhythm Of Life, contributed 70% of our booking value for FY24. Our Bangalore presence remains strong with bookings of Rs 420 crore contributing 38% to the total annual bookings.”
He added, “FY24 marked an orbital change in our business development efforts and we acquired new projects with an expected topline of Rs 4,150 crore as against Rs 930 crore in FY23. We have added four new projects in Ahmedabad, and one each in Bengaluru and Surat.”
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