Arihant aashiyana - Latest News Update, Information, Photos & Videos on Arihant aashiyana at Lokmat Times

BusinessWire IndiaMumbai (Maharashtra) [India], May 24: Arihant Superstructures Ltd., a leading real estate company in the Mumbai Metropolitan Region (MMR) and Navi Mumbai, is pleased to announce its financial results for the year ending March 31, 2023. The company has reported impressive profits across its entities, demonstrating significant growth and a positive outlook for the future.Key Highlights:Profit After Tax (PAT): Arihant Superstructures Pvt. Ltd., the holding company, achieved a PAT of Rs. 18.47 crore. Subsidiaries, Arihant Abode Ltd., Arihant Vatika Realty Pvt. Ltd., and Arihant Aashiyana, achieved PATs of Rs. 14.67 crore, Rs. 13.45 crore, and Rs. 0.11 crore, respectively. This totals a PAT margin of Rs. 46.70 crore on a top-line revenue of Rs. 390 crores, representing approximately 12% of revenue.Revenue Growth: The company witnessed an impressive increase of 18% in total revenue compared to the previous fiscal year. The total booking of sales reached Rs. 773 crores in FYE 23, showcasing a remarkable compound annual growth rate (CAGR) of 43% over the past four years.Net Worth: Arihant Superstructures Ltd. experienced a substantial increase in net worth from Rs. 146.80 crores in FY 20 to Rs. 245.60 crores in FY 23, reflecting an average annual growth rate of 17% over the four-year period.Arihant Aakarshan Project: Despite being temporarily halted, the Arihant Aakarshan project has not adversely affected the company's profits and wealth. Two possible scenarios have been outlined: Scenario 1 involves the continuity of the project leading to increased sales, while Scenario 2 entails the government acquiring the project and compensating the company, resulting in positive cash flows.Efficient Cost Management: Arihant Superstructures Ltd. has demonstrated efficient business management, with sales and marketing expenses amounting to around 4% of the face value, and salaries and administrative office expenses accounting for approximately 5% of costs.Strong Institutional Support: The company's projects have garnered positive interest from institutional lenders, who see the projects as financially viable, with adequate cover, margins, and profitability. This support further ensures the health and success of the projects.Sales Momentum and Future Growth: The current trend in real estate sales is favoring Arihant Superstructures Ltd. The company has a pipeline of 2,500 flats for sale, estimated to generate revenue of Rs. 1,000 crores in Mumbai and Jodhpur. Additionally, there are 1,600 unsold flats from ongoing projects, estimated to generate another Rs. 1,000 crores in revenue. The company aims to sell 60% of the total inventory in the fiscal year 2023-2024.Dividend Waiver: Promoters holding 75% of the company's shares have decided to waive off the dividend, allowing it to be distributed solely to non-promoters. This decision provides an additional Rs. 1.50 crores in cash for operational purposes and preserves the reserves.Expansion of Land Portfolio: Arihant Superstructures Ltd. has increased its land holdings for future projects, acquiring 165 acres in FY 23, with expectations to surpass 200 acres in FY 24. The addition of plotted development, villa projects.(Disclaimer: The above press release has been provided by BusinessWire India.will not be responsible in any way for the content of the same)Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Arihant Aashiyana, NewsFOLLOW

Arihant aashiyana, Latest News

Business :Arihant Superstructures Ltd. Witnesses 18 Percent Revenue Growth, Booking Sales Worth Rs. 773 Crores in FY 2022-23

BusinessWire India Mumbai (Maharashtra) [India], May 24: Arihant Superstructures Ltd., a leading real estate company in the Mumbai Metropolitan ... ...