Page 17 - Arvind 2024

Overview
Customer-centric design was woven into the DNA of the Arvind Group from its inception. Arvind SmartSpaces continued this legacy by creating living spaces that inspire our customers to
live better lives; lives that are enriched by the quality, aesthetic and functionality of the homes
we build. Our guiding principle
of #DesigndtoInspire is a call
to action. It is a philosophy that guides all our actions from the selection of land to the design of the product; from the execution of project to the living experience in an Arvind home.
I am pleased to communicate that this positioning has resonated strongly with our customer base. The result of this distinctiveness
in product curation was that the Company emerged as one of the fastest growing listed real estate development companies in India. The Company reported a 38% growth in bookings and 46% growth in collections compounded across the five years ending with the last financial year.
Drawing from the strengths
and confidence in business performance, I am pleased to share that the Board of Directors recommended a final dividend
of Rs. 2.50 per equity share and special dividend of Rs. 1.00 per equity share, totaling Rs. 3.50 per
equity share of Rs. 10 each(i.e. 35%). This marks consecutive years of dividend distribution.
Profitable responsible growth
A strategic priority when we went into business was a commitment to market real estate differently. We would invest in creating products with a deep insight
of customer needs and trends, focus on operational efficiency to deliver industry leading margins and invest in delivering class- leading customer ownership experience. At our Company, we resolved to deepen our niche recall and positioning through
a simple approach: provide customers what they truly want. For instance, at the time of the pandemic and after, there was a general propensity to build larger apartments (vertical construction) on the grounds that prospective homeowners would seek to live better. This was in alignment with what we felt as well, with one difference. We felt that a larger number of homeowners would not only seek to live in larger homes but would be inclined to graduate from apartment-centric homes to villa-defined residences.
The result of this insight was that we were taking the conventional application a step ahead: we curated villa homes marked
by spacious interiors and lush landscaping. The result is that we
Corporate Overview
Statutory Reports Financial Statements
did not service an existing market; it would be fair to state that we created one. The launch of a series of properties curated around
this proposition proved to be a gamechanger at two levels - in terms of the consumer experience and superior profitability. We
sold quicker since our product resonated with the customer’s evolving needs; we sold at better realisations; we developed and delivered faster; we generated higher accruals for onward reinvestment, the start of a larger virtuous cycle.
Core competence
While our land aggregation, Balance Sheet, digital
marketing, HDFC platform,
CRM, organisational culture
and strengths are enunciated
in the subsequent pages of
the Annual Report, let me call attention to the product value proposition here. The success
of the Company in building a brand for itself as a creation of tranquil living spaces within the context of urban congestion
has emerged as a distinctive recall. The Company is seen as providing a luxury benchmark: the capacity to provide an elevated living experience within urban agglomerations.
This distinctive capability has been wrought through the development of strong operational capabilities
– from the identification of large plots extending from 100 acres
to 500 acres; the competence
to convert land as a raw material into a finished product; the ability to aggregate resources leading to efficient construction (largely different from the templatised manner in which projects are constructed vertically) and the insight to balance the insides of homes with the outsides.
I am pleased to communicate that the Company deepened its competence and insight into this property development niche. The Company is being recognised
as among the thought leaders
in urban life quality; it is being
The success of the Company in building a brand for itself as a creation of tranquil living spaces within the context of urban congestion has emerged as a distinctive recall.
Annual Report 2023-24 | 15