Page 25 - Arvind 2024

Corporate Overview
Statutory Reports Financial Statements
market presents and look forward to expand our presence there. This strategic move underscores our proactive approach to growth and our focus in seizing opportunities in emerging markets.
While all launches were horizontal, the deliveries were majorly in high- rise apartments. So historically, we have developed both horizontal and vertical real estate and expect to maintain an equilibrium going forward.
In FY23-24, collections were
Rs. 876 Cr, a growth of 46% year-on-year and the highest
in the Company’s history. This performance was the result of efficient execution of the virtuous process of sales, registrations, construction and deliveries.
In FY23-24, we reported a revenue of Rs. 341 Cr, up 33% on a year-on- year basis. EBITDA grew at 57%
to Rs. 85.5 Cr. while PAT for the FY23-24 grew 62% to Rs. 41.6 Cr. What was creditable is that even as the Company grew its business
during the last financial year, the Company deepened its financial discipline. Net Debt remained negative at Rs. (41) Cr as on March 31, 2024 from a net debt position of Rs. (30) Cr as on March 31, 2023. Net operating cash flow was Rs. 458 Cr in FY23-24 as against Rs. 201 Cr in FY22-23.
With an all-time low inventory overhang and a decadal high average pricing growth, demand optimism in the residential markets is likely to continue in the medium term. At Arvind SmartSpaces,
we have entered a virtuous cycle. The sustainability of our growth
is derived from the fact that outperformance during the last financial year was not the result of a temporary arbitrage; it was the of result of a systemic maturing. The complement of people, processes, systems, protocols
and priorities now represents a base that will be scaled within our prudential financial discipline.
We also believe that should any outsized opportunities emerge,
Uplands 2.0 & 3.0, Ahmedabad
we will be equipped to leverage the under-borrowed nature of our Balance Sheet. In view of this, we are optimistic of sustaining our momentum or raising our game should realities warrant
The best is yet to come
Mr. Kamal Singal,
Managing Director and CEO
Annual Report 2023-24 | 23