By Dominick Rodrigues
Mumbai: Arihant Superstructures Limited (ASL) — a leading real estate company focusing on the affordable housing segment in the Navi Mumbai, MMR and Jodhpur regions – shook off pandemic-affected loss in earlier quarters by reporting vigorous results for Q4 in year ending March 31 2021.
The 12M FY21 period witnessed sale of total 1097 units with strong demand in Q4 of the fiscal, besides Total Income increasing by 14% to Rs 272.31 crore and EBITDA at Rs 50.16 Crore (at margin of 18.42%) with increase of 5% over the previous year’s figure of Rs 47.66 Crore (at margin of 20.04%).
PAT stood at Rs 15.74 Crore (at margin of 5.78%) with substantial increase of 43% over previous year Rs 10.98 Crore (at margin of 4.62%).
The Company also generated one of its highest-ever yearly operational cash flows of about Rs 120.52 Crore, up from Rs 25.41 Crore in the previous year, Ashok Chhajer, Chairman and Managing Director, Arihant Superstructures Limited, said while highlighting the company’s good performance.
“The beginning of the financial year was fraught with fear as the 1st wave of Covid-19 pandemic spread, but we were well prepared for a strong revival in the affordable housing segment with ready-to-move-in inventory as well as projects in various stages of construction across micro markets in Mumbai MMR and Jodhpur,” he said, adding “This helped us in catering to varied customer requirements, as a result of which Q4FY21 became the best period for Arihant Superstructures Ltd till date with highest revenues and net profits.”
Chhajer said that with “Work From Home” becoming the present-day norm, home buyers had become discerning and were willing to travel the extra mile to buy a home. “While our Brand Arihant is showcasing quality homes with efficient use of space in well planned gated communities, we are excited at the prospects in our region and continuing to launch new projects,” he added.
He said that so far, ASL has delivered over the past two decades 9,500+ homes amounting to 8 million square feet across 59+ projects, besides completely integrating in-house capabilities of Land Acquisition & Procurement, Liaison, Design & Engineering, EPC and Marketing & Sales.
