Page 61 - Arvind 2024

Directors’ Report
Corporate Overview
Statutory Reports
Financial Statements
Your Directors have pleasure in presenting the 16th Annual Report on the business and operations of the Company together with the Audited Financial Statements for the financial year ended on March 31, 2024.
1. FINANCIAL PERFORMANCE:
The highlights of the Financial Performance for year are as under:
Revenue from Operations
Profit before Finance costs, Depreciation and Amortisation & Tax
Less: Finance Costs
Less : Depreciation and Amortisation
Profit before share in profit/(loss) of Joint ventures & Tax
Share of Profit/(Loss) from Joint ventures Profit before tax
Less : Current Tax
Less : Deferred Tax
Profit for the year
Total comprehensive income for the year Net Profit/(Loss) attributable to :
Equity holders of the parent Non-controlling interest
2. COMPANY’S PERFORMANCE / STATE
OF COMPANY’S AFFAIRS:
Real estate prices have shown a steady increase, with the average annual growth rate rising from 2.3% in fiscal year 2022 to 3.8% in fiscal year 2023 and further to 4.3% in the first half of fiscal year 2024. Despite this upward trend in prices and the impact of higher interest rates, there has been a continued uptick in housing sales and new project launches, underscoring the resilience of income recovery and positive sentiment toward future prospects in the real estate sector.
While comparing Indian real estate sector vis-à-vis your Company, FY24 has been a strong year for your Company in terms of highest ever bookings, collections and launching of new projects. In FY24, your Company registered a booking value of Rs 1,107 Crores, a YoY growth of 38%. In terms of Projects Launching, your Company launched four projects successfully including Uplands 2.0 & 3.0, Forest Trails, Arvind Orchards and Rhythm of Life and which contributed 71% (Rs. 784 Cr) of annual booking value.
(Rs. in Lac)
25,591.68 5,626.75
1,399.47 270.90 3,956.38
1.33 3,957.71 1,698.67 (523.67) 2,782.71 2,765.70
2,560.75 221.96
FY24 has been a historic year for the Company from a project addition perspective with cumulative new business development topline potential ~Rs. 4,150 Crores added during the year.
Your Company’s consolidated revenue for FY24, at Rs. 341 Crores is showing strong revenue growth of ~33% over last year. The EBITDA % to revenue from operations has grown by 33% in FY24. The profit after tax attributable to equity holders for the year has grown by 58% to Rs. 41 Crores.
Your Company recorded its highest ever annual collections of Rs 897 Crores, a YoY growth of 49%; highlighting the strong operational cycle of new sales, construction and delivery. During the year, Operating Cash Flows stood at Rs. 458 Crores as against Rs. 201 Crores previous year.
A more detailed analysis and commentary on financial performance is available in the Management Discussion and Analysis section of this report including project wise status on booking and revenue.
Particulars
Standalone
2023-24
2022-23
11,727.81
Consolidated
2023-24
34,117.72
12,115.51
2022-23
15,077.87
7,518.26
5,417.74
572.69
556.64
4,093.81
244.69
128.01
4,733.08
450.40
6,700.88
7,571.29
0.11
1.33
0.11
6,700.99
4,734.41
7,571.40
1,209.12
900.76
2,061.03
(21.47)
6.34
401.29
5,513.34
3,827.31
5,109.08
5,480.34
3,810.30
5,076.08
-
-
-
-
4,157.06
952.02
Annual Report 2023-24 | 59