Arvind SmartSpaces sees strong booking growth in H1 FY26

Arvind SmartSpaces reported strong performance for Q2 and H1 FY26. Half-yearly bookings reached INR 607 Cr, with quarterly bookings in Q2 FY26 rising 147% quarter-over-quarter to INR 432 Cr. The company launched Arvind Everland at Mankol, Sanand, securing INR 400 crore in sales bookings (954 units), representing 82% of the launched inventory within the quarter. Half-yearly collections stood at INR 427 Cr, with Q2 collections increasing 23% quarter-over-quarter to INR 236 Cr. The company also reported a strong operating cash flow (OCF) of INR 125 Cr in Q2, up 368% quarter-over-quarter.

In business development, Arvind SmartSpaces entered Baroda with a horizontal township project valued at approximately INR 700 crore, spread over 98 acres under a joint development model with a 68% revenue share. The company’s net interest-bearing funds were (32) Cr as of Sep 30, 2025, an increase of 18 Cr during the quarter from (50) Cr in June 2025, with a net debt to equity ratio of (0.05).

Unrecognized revenue stood at INR 3,124 Cr as of September 30, 2025, compared to INR 2,538 Cr on September 30, 2024. Despite a decrease in revenue from operations to INR 140.1 Cr in Q2 FY26 from INR 265.6 Cr in Q2 FY25, and PAT to INR 18.1 Cr from INR 42.6 Cr, the company highlights a lag between strong sales momentum and financial performance due to revenue recognition accounting standards.