ARVSMART

Arvind SmartSpaces Limited

Residential and plotted development real-estate company across western India and Bengaluru

Consumer Discretionary›Realty›Realty›Residential, Commercial Projects

arvindsmartspaces.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹610.75
Market cap
2,801 Cr
Stock P/E
15.2
P/B
4.32
Dividend yield
1.0%
ROE (FY26)
10.8%
ROCE (FY26)
11.3%
Operating margin (FY26)
25.8%
Debt / equity (FY26)
0.89
OCF / EBITDA (FY26)
-112.2%
OCF / EBITDA (3Y)
-51.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Arvind SmartSpaces develops mid-market residential housing and plotted projects, mainly in Gujarat, Bengaluru and the Mumbai Metropolitan Region, and sells them to home buyers, partly through joint development with landowners.

Company snapshot

31stBy market cap

Ranked among 79 companies in Residential, Commercial Projects.

What we see

Positives
  • ✓Net margin of 18.3% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales73 Cr84 Cr117 Cr74 Cr266 Cr210 Cr163 Cr102 Cr141 Cr166 Cr155 Cr318 Cr
Operating expenses (approx.)39 Cr64 Cr86 Cr65 Cr200 Cr151 Cr130 Cr80 Cr111 Cr125 Cr96 Cr161 Cr
EBITDA34 Cr20 Cr31 Cr9 Cr66 Cr59 Cr34 Cr21 Cr30 Cr42 Cr59 Cr156 Cr
OPM %46.6%23.7%26.7%12.3%24.8%28.3%20.6%21.1%21.0%25.0%38.2%49.2%
Other income3 Cr2 Cr3 Cr3 Cr4 Cr5 Cr11 Cr5 Cr4 Cr4 Cr8 Cr4 Cr
Interest19 Cr3 Cr4 Cr3 Cr5 Cr5 Cr8 Cr8 Cr6 Cr5 Cr11 Cr22 Cr
Depreciation1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr2 Cr1 Cr2 Cr2 Cr5 Cr
Profit before tax16 Cr18 Cr28 Cr7 Cr64 Cr58 Cr36 Cr17 Cr25 Cr39 Cr54 Cr134 Cr
Tax %31.8%36.4%31.3%37.9%33.3%14.1%38.8%27.9%28.6%25.0%18.7%27.3%
Net profit11 Cr12 Cr20 Cr5 Cr43 Cr50 Cr22 Cr12 Cr18 Cr29 Cr44 Cr97 Cr
EPS (₹)₹1.91₹2.07₹3.42₹0.64₹8.95₹10.49₹4.20₹2.44₹3.09₹6.27₹9.63₹21.80

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales159 Cr198 Cr262 Cr299 Cr149 Cr257 Cr256 Cr341 Cr713 Cr564 CrSign in free for the trailing twelve months
Operating expenses (approx.)115 Cr137 Cr194 Cr211 Cr109 Cr208 Cr207 Cr230 Cr545 Cr412 CrSign in free for the trailing twelve months
EBITDA44 Cr61 Cr68 Cr89 Cr41 Cr49 Cr49 Cr111 Cr168 Cr152 CrSign in free for the trailing twelve months
OPM %27.8%30.7%25.9%29.6%27.2%19.1%19.1%32.7%23.6%26.9%Sign in free for the trailing twelve months
Other income0.15 Cr4 Cr2 Cr2 Cr2 Cr8 Cr7 Cr10 Cr23 Cr20 CrSign in free for the trailing twelve months
Interest12 Cr15 Cr21 Cr24 Cr27 Cr17 Cr14 Cr41 Cr21 Cr31 CrSign in free for the trailing twelve months
Depreciation1 Cr1 Cr1 Cr1 Cr1 Cr2 Cr3 Cr5 Cr5 Cr6 CrSign in free for the trailing twelve months
Profit before tax32 Cr48 Cr48 Cr65 Cr15 Cr38 Cr40 Cr76 Cr165 Cr135 CrSign in free for the trailing twelve months
Tax %33.0%35.0%34.8%37.1%37.7%34.2%29.7%32.5%27.9%23.5%Sign in free for the trailing twelve months
Net profit22 Cr31 Cr31 Cr41 Cr9 Cr25 Cr28 Cr51 Cr119 Cr103 CrSign in free for the trailing twelve months
EPS (₹)₹7.83₹10.01₹8.90₹11.08₹2.46₹6.47₹5.83₹9.17₹24.28₹21.04Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%0.0%29.1%13.2%26.6%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital28 Cr32 Cr35 Cr36 Cr36 Cr42 Cr45 Cr45 Cr46 Cr46 Cr
Reserves166 Cr263 Cr219 Cr253 Cr276 Cr397 Cr421 Cr449 Cr552 Cr603 Cr
Borrowings54 Cr100 Cr82 Cr157 Cr165 Cr30 Cr145 Cr107 Cr279 Cr577 Cr
Other liabilities168 Cr182 Cr430 Cr336 Cr411 Cr629 Cr870 Cr1,370 Cr1,584 Cr2,120 Cr
Total liabilities433 Cr596 Cr777 Cr798 Cr926 Cr1,136 Cr1,511 Cr2,102 Cr2,671 Cr3,594 Cr
Fixed assets (net)10 Cr10 Cr10 Cr9 Cr9 Cr43 Cr46 Cr51 Cr57 Cr60 Cr
CWIP11 Cr12 Cr14 Cr20 Cr30 Cr12 Cr16 Cr19 Cr25 Cr62 Cr
Investments2 Cr2 Cr2 Cr1 Cr1 Cr0.27 Cr83 Cr103 Cr186 Cr121 Cr
Loans & advances——0 Cr0 Cr29 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Inventories268 Cr351 Cr626 Cr663 Cr703 Cr766 Cr957 Cr1,362 Cr1,489 Cr2,222 Cr
Trade receivables40 Cr117 Cr1 Cr1 Cr2 Cr1 Cr3 Cr3 Cr15 Cr15 Cr
Cash & bank13 Cr6 Cr6 Cr5 Cr35 Cr151 Cr64 Cr63 Cr55 Cr126 Cr
Other assets88 Cr98 Cr118 Cr98 Cr116 Cr162 Cr342 Cr502 Cr844 Cr987 Cr
Total assets433 Cr596 Cr777 Cr798 Cr926 Cr1,136 Cr1,511 Cr2,102 Cr2,671 Cr3,594 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-19 Cr-147 Cr12 Cr-16 Cr91 Cr161 Cr-101 Cr31 Cr-84 Cr-170 Cr
Cash from investing1 Cr-0.86 Cr-0.45 Cr-7 Cr-42 Cr29 Cr-82 Cr-28 Cr-109 Cr-6 Cr
Cash from financing27 Cr141 Cr-11 Cr21 Cr-19 Cr-74 Cr95 Cr-3 Cr186 Cr248 Cr
Net cash flow10 Cr-7 Cr0.28 Cr-0.87 Cr30 Cr116 Cr-87 Cr-0.58 Cr-8 Cr71 Cr
Free cash flow (OCF − Capex)-24 Cr-150 Cr9 Cr-23 Cr79 Cr151 Cr-112 Cr15 Cr-99 Cr-217 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %16.5%15.4%19.9%19.4%8.0%10.7%8.4%15.9%17.1%11.3%
ROE %9.6%10.0%11.6%12.9%2.5%5.3%5.6%6.6%13.7%10.8%
Debtor days93215216243710
Inventory days86027051840133745711418110510101039720934
Days payable289296174139390112699213051902
Cash conversion cycle580282416671199418713071039921910019042
OCF / EBITDA %-43.4%-241.0%17.2%-17.7%224.1%327.0%-206.5%27.4%-49.9%-112.2%
OCF / EBITDA % (3 years)——-89.2%-69.3%44.1%132.2%108.6%43.0%-47.0%-51.9%
Debt / equity0.280.340.320.540.530.070.310.220.470.89
Current ratio2.643.501.651.682.011.601.561.251.221.21
Net debt / EBITDA0.93—1.111.713.19-2.461.660.391.332.97