Shares of Arvind Smartspaces surged nearly 3% after the real estate company reported an 85.7% year-on-year increase in net profit for the quarter ended March 31, 2024.
Arvind Smartspaces said its net profit rose to ₹19.5 crore in the fourth quarter, compared to ₹10.5 crore in the same period last year. The company’s revenue from operations increased by 26.6% to ₹117.4 crore, from ₹92.7 crore in the previous fiscal year.
Kamal Singal, Managing Director and CEO of Arvind Smartspaces, said,
“The financial year 2024 was a major year for the company. We achieved important goals in bookings, collections, and business development. The company recorded its highest ever annual bookings of ₹1,107 crore, a growth of 38% compared to the previous year.”
As of 10:15 am, Arvind Smartspaces shares were trading 3.13% higher at ₹696.40 on the National Stock Exchange (NSE).
