Arvind SmartSpaces Q3 PAT falls 42% to ₹29 crore, bookings rise 48%

Arvind SmartSpaces Ltd (ASL) for the third quarter ended December 31, 2025 net profit of ₹29 crore as compared with ₹50 crore in the year ago period, down 42%.

Revenue for the quarter also fell to ₹166 crore from ₹210 crore a year ago, down 21%

The company attributed the moderation in revenue and profit to the timing of revenue recognition, which is linked to construction progress.

For the quarter bookings increased 48% to ₹331 crore from ₹224 crore a year earlier, while collections rose 38% to ₹317 crore from ₹229 crore. Net operating cash flows for the quarter grew 128% Year on Year to ₹169 crore.

For the nine months ended December 31, 2025, bookings stood at ₹938 crore, up 5% from ₹890 crore in the corresponding period last year. Collections rose 2% YoY to ₹744 crore from ₹725 crore. Net operating cash flows for the period grew 16% YoY to ₹321 crore.

Net debt (interest-bearing funds) stood at ₹79 crore as of December 31, 2025, with a net debt-to-equity ratio of 0.13.

On the expansion front, the company said it added projects with a cumulative topline potential of about ₹2,510 crore during the nine months . In Q3, it acquired a premium residential high-rise project in Vastrapur, Ahmedabad, with a topline potential of around ₹400 crore and saleable area of 3.6 lakh sq. ft., and another in Nallurahalli, Whitefield, Bengaluru, with a topline potential of about ₹550 crore and 4.6 lakh sq. ft. of saleable area.

In January 2026, it added a premium high-rise project in Sarjapur, Bengaluru, with a topline potential of roughly ₹860 crore and saleable area of 6.8 lakh sq. ft. 

Priyansh Kapoor, CEO and Whole-Time Director, said “The company had carried forward the momentum from the first half into Q3, led by strong sustenance sales across Ahmedabad and Bengaluru.” He added that the business development pipeline remained robust as ASL continued to evaluate opportunities across Gujarat, Bengaluru and the Mumbai Metropolitan Region.