Q3 2024 Arihant Superstructures Ltd Earnings Call Transcript
Key Points
- Arihant Superstructures Ltd (BOM:506194) reported a 9.6% growth in consolidated revenue for Q3 FY24, reaching INR119.5 crores compared to INR109 crores in Q3 FY23.
- The company's net worth increased to INR301.8 crores in Q3 FY24 from INR276.8 crores in Q2 FY24, marking a 9% growth.
- Arihant Superstructures Ltd achieved sales booking of 483 units in Q3 FY24, equivalent to 4.1 lakh square feet, amounting to INR251 crores in sales value.
- The company acquired a new project, Arihant Anaika 7, and signed a term sheet for 118 acres of land at Chowk, indicating strong business development activities.
- The Navi Mumbai Metro inauguration and the upcoming Navi Mumbai International Airport are expected to boost demand for homes, especially in areas where Arihant has a strong presence.
- The EBITDA margin for Q3 FY24 decreased to 22.01% from 23.39% in Q2 FY24, showing a decline of 1.38%.
- Profit after tax for Q3 FY24 decreased by 3.1% to INR15.6 crores from INR16.1 crores in Q2 FY24.
- The average price per unit sold decreased to INR52 lakhs in Q3 FY24 from INR60 lakhs in Q2 FY24, indicating a shift towards more affordable segments.
- The company expects to increase its debt in the next few months to fund new acquisitions, which could impact its financial stability.
- Arihant Superstructures Ltd faces increasing competition from major developers like Godrej and Hiranandani in the Navi Mumbai and Panvel areas.
Ladies and gentlemen, good day, and welcome to the Q3 and nine-months FY24 earnings conference call of Arihant Superstructures Limited. (Operator Instructions)
I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you, and over to you, ma'am.
Good morning, everyone, and a warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the Investor Relations of Arihant Superstructures Limited. On behalf of the company, I would like to thank you all for participating in the company's earnings call for the third quarter and nine months of the financial year 2024.
Before we begin, let me mention a short cautionary statement. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on management's beliefs, as well as assumptions made by, and information
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