By Dominick Rodrigues
Mumbai: Arihant Superstructures Limited (ASL), one of India’s leading real estate companies with a predominant focus on the affordable housing segment in the Navi Mumbai, MMR and the Jodhpur region, highlighted strong numbers for its Quarter ended June 2021
Noting that the first wave of COVID-19 had highlighted important lessons that helped the company navigate its journey through the second wave of COVID ‘unscathed,’ Ashok Chhajer, Chairman and Managing Director, Arihant Superstructures Limited said that this had resulted in ASL achieving one of the best Q1 performances in its history in terms of Sales & Profitability, besides its new launches also helping in achieving better overall performance.
He said total 368 units were sold in Q1FY22, while Total Income stood at Rs 84.66 crore (745% y-o-y growth), Ebitda at Rs 15.38 crore (1048% y-o-y growth) and PAT at Rs 8.28 crore against loss of Rs 7.04 crore.
Meanwhile, the company’s quarterly performance witnessed: Finance cost reducing by Rs 2.55 crore to Rs 5.35 crore; Total sales of 368 units; Total sales area being 3.07 lakh square feet worth Rs 178.72 crore; and Total Collections for Q1FY22 being Rs 93.9 crore.
Describing Arihant Superstructures Ltd’s predominant focus on the affordable housing segment in the Navi Mumbai, MMR and the Jodhpur region, Chhajer emphasized ASL’s impeccable record of planning and execution of projects — backed by professional management – for successfully executing delivery of over 10,000 homes, amounting to 8 million square feet across 59 plus projects in the past two decades.
Arihant has completely integrated in-house capabilities of Land Acquisition & Procurement, Liaison, Design & Engineering, EPC and Marketing & Sales, he said, adding that the company has been recognized as among the top 50 brands of Mumbai in the business-to-consumer (B2C) category.
