Transcript of the con-call held on May 21, 2026.
ARVSMART · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Arvind SmartSpaces reported record annual booking value of INR1,550 crores in FY26, up 22% YoY, with Q4 FY26 being the highest ever quarterly booking at over INR600 crores. Revenue declined to INR564 crores from INR713 crores due to timing of revenue recognition, but PAT remained strong at INR103 crores (vs INR119 crores in FY25). The company added INR3,140 crores of new projects in FY26 and signed its largest Mumbai project worth INR2,400 crores post-year-end. Management guided for 25% CAGR over 4-5 years with potential 35-40% growth in FY27. Operating cash flows were INR417 crores in FY26, with unrealized OCF exceeding INR4,970 crores expected over 4-5 years. The company maintained a net debt-to-equity of 0.26 with a self-imposed ceiling of 1:1.
Strong bookings momentum and expanded project pipeline provide multi-year revenue visibility. Management's confidence in maintaining 22-25% EBITDA margins despite 4% cost inflation signals margin resilience. The shift toward larger redevelopment and JV projects in Mumbai may alter cash flow dynamics going forward.