Slow absorption in key projects
Projects like Advika (72% complete, 35% sold) and Aria (zero sales in Q3) are seeing sluggish demand despite connectivity.
ARIHANTSUP / bear-case history
Track the concerns that keep returning.
Arihant Superstructures · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
high
Rising leverage from annuity asset development
Debt is expected to increase by ~INR 150 crore for gymkhana and hotel construction, with blended cost of debt at 12.5%.
Dependence on IT sector demand
Analyst raised concern that IT sector slowdown could impact real estate bookings; management downplayed but acknowledged risk.