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Regulatory approval delays in Bangalore
View Risks →Arvind SmartSpaces Limited — Q3 FY26
Arvind SmartSpaces reported Q3 FY26 revenue of ₹166 crore (down 21% YoY) and EBITDA of ₹44 crore (down 27% YoY), with PAT at ₹29 crore (down 42% YoY).
bullish
high
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Arvind SmartSpaces reported Q3 FY26 revenue of ₹166 crore (down 21% YoY) and EBITDA of ₹44 crore (down 27% YoY), with PAT at ₹29 crore (down 42% YoY). The decline reflects timing of project completions, but operational momentum was strong: 9-month bookings hit a record ₹938 crore (+5% YoY) and Q3 collections were ₹317 crore (+38% YoY). Operating cash flow surged 128% YoY to ₹169 crore. Management highlighted sustained sales run-rate of ~₹200 crore/quarter and a robust launch pipeline of ~₹1,500 crore in Q4. Key risks include regulatory approval delays in Bangalore and potential macro slowdown impacting demand. The company maintains a net debt of ₹79 crore and targets 25-30% pre-sales growth over the medium term.
अरविंद स्मार्टस्पेस ने तीसरी तिमाही में 166 करोड़ रुपये की कमाई की, जो पिछले साल से 21% कम है। मुनाफा भी 42% घटकर 29 करोड़ रुपये रहा। यह गिरावट प्रोजेक्ट पूरा होने के समय के कारण हुई, लेकिन कंपनी की बिक्री मजबूत रही। नौ महीने में बुकिंग 938 करोड़ रुपये रही, जो पिछले साल से 5% ज्यादा है। तीसरी तिमाही में कलेक्शन 317 करोड़ रुपये (+38%) और ऑपरेटिंग कैश फ्लो 169 करोड़ रुपये (+128%) रहा। कंपनी हर तिमाही लगभग 200 करोड़ रुपये की बिक्री कर रही है और चौथी तिमाही में 1,500 करोड़ रुपये के नए प्रोजेक्ट लॉन्च करेगी। जोखिमों में बैंगलोर में देरी और बाजार में मंदी शामिल है। कंपनी पर 79 करोड़ रुपये का कर्ज है और वह आने वाले समय में 25-30% बिक्री बढ़ाना चाहती है।
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Read Transcript →Quarter Snapshot
9-month Bookings
₹938 crore
+5% YoY
Highest ever 9-month bookings, driven by sustained sales and new project Everland.
Q3 Collections
₹317 crore
+38% YoY
Highest ever quarterly collections, reflecting strong cash conversion.
Operating Cash Flow (Q3)
₹169 crore
+128% YoY
Highest ever quarterly operating cash flow, driven by execution and sustained sales.
New Business Development GDV (9M FY26)
₹2,510 crore
N/A
Cumulative new project topline potential added in 9 months, including projects in Bangalore, Ahmedabad, and Vadodara.
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Guidance and risk preview
Management reiterated full-year pre-sales target despite lower-than-expected launches, expecting Q4 launches of ~₹1,500 crore GDV.
Changes in Bangalore's regulatory environment have slowed project approvals, causing launch delays and uncertainty.
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