Any current/future new fundraising through debt or equity?

The company expects to add some more debt in the next 5 to 9 months to fund new projects and acquisitions. Debt is anticipated to increase by around ₹125 crores from current levels to support business expansion. Repayments of existing debt (e.g., ICICI Ventures ₹45 crores and Tata Capital via escrow mechanism) are underway and expected to be managed smoothly through operating cash flows. No specific mention of new equity fundraising was made in the transcript. The company prefers to fund growth through debt to acquire best lands and develop projects rather than land banking. Overall, debt is p

Any current/future capex/capital investment/strategic investment?

Arihant Superstructures plans capital investment in expanding its project portfolio, including projects like Arihant Anaika 7, Arihant World Villas, and Arihant Avanti at Shilphata. Commencement certificates are awaited for Arihant World Villas, Arihant Avanti, and Arihant Anaika 7, expected by Q4 FY24, enabling launch and construction activities. The company is investing around Rs. 250 crore to build a 2 lakh sq ft gymkhana and a 221-key hotel at Panvel, anticipating a 15% IRR on this investment. New project launches and expansions (e.g., additional land for Arihant Aspire adding 5 lakh sq ft

Future growth expectations in sales/revenue/volumes?

The company plans to achieve a 25% CAGR in revenue from FY23 across all verticals. For FY25: - Target pre-sales of around ₹1,300 crore. - Expect OC (Occupational Certificate) for major projects like Arihant Aalishan, Arihant Aspire, Arihant Anaika 5, and Arihant Aloki. - Significant deliveries and inventory release anticipated, aiding revenue recognition. - Key contributors include Arihant Advika, Aspire, World Villas, Avanti, Adarsh, Anaika 7, and Aaradhya. FY26 pre-sales expected to grow around ₹1,600-1,700 crore, boosted by infrastructure developments like the Navi Mumbai Airport op

Future growth expectations in earnings/operating earnings/profits/EPS?

The company plans to achieve a 25% CAGR in revenue from FY23 across all verticals (Page 14). Pre-sales targets: ₹1,300 crore in FY25 and ₹1,600-1,700 crore in FY26, driven by key projects like Arihant Advika, Aspire, and others (Page 11). EBITDA margin expected to increase to 25%-30% over the next few years, improving profitability (Page 6). Earnings growth indicated by 7.3% revenue and 13% EBITDA growth YoY in 9 months FY24 vs FY23, with PAT growing 11.3% YoY (Page 3). Profit after tax maintained around ₹15-16 crore quarterly, reflecting steady performance (Page 3). Debt to increase

Current/ Expected Orderbook/ Pending Orders?

The company is targeting a 25% CAGR from FY23 numbers across all verticals. FY25 is expected to witness substantial deliveries, including: - Arihant Aalishan - Arihant Aspire - Arihant Anaika 5 at Taloja - Arihant Aloki - Partial OCs expected for Arihant Anmol at Badlapur and Aalishan 1 building. OC timeline: - H1 FY25: Completion expected for Aalishan. - H2 FY25: Aspire and Anaika 5 are expected to get OCs. The company’s sales booking for Q3 FY24 was 483 units worth ₹251 crores. Pre-sales targets: - FY24 expected to close at ₹1,000 crores. - FY25 targeted at ₹1,300 crores; F

Arihant Superstructures LtdQ3 FY24Realty

Arihant Superstructures Ltd Q3 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹206.49P/E: 22.4Market Cap: ₹895 CrSector: Realty

Management growth scorecard

Revenue

Category 2

Margin

Category 1

Fundraise

Yes

Order

N/A

Capex

Yes

3 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

The company plans to achieve a 25% CAGR in revenue from FY23 across all verticals.
For FY25:
- Target pre-sales of around ₹1,300 crore.
- Expect OC (Occupational Certificate) for major projects like Arihant Aalishan, Arihant Aspire, Arihant Anaika 5, and Arihant Aloki.
- Significant deliveries and inventory release anticipated, aiding revenue recognition.
- Key contributors include Arihant Advika, Aspire, World Villas, Avanti, Adarsh, Anaika 7, and Aaradhya.
FY26 pre-sales expected to grow around ₹1,600-1,700 crore, boosted by infrastructure developments like the Navi Mumbai Airport opening.
Sales guidance for FY24 Q4 anticipates closing at ₹1,000 crore.
Villa projects like World Villas offer higher IRR and margins compared to typical projects.
The company is focused on expanding its land bank strategically to sustain growth.

Margin guidance

Category 1

The company plans to achieve a 25% CAGR in revenue from FY23 across all verticals (Page 14).
Pre-sales targets: ₹1,300 crore in FY25 and ₹1,600-1,700 crore in FY26, driven by key projects like Arihant Advika, Aspire, and others (Page 11).
EBITDA margin expected to increase to 25%-30% over the next few years, improving profitability (Page 6).
Earnings growth indicated by 7.3% revenue and 13% EBITDA growth YoY in 9 months FY24 vs FY23, with PAT growing 11.3% YoY (Page 3).
Profit after tax maintained around ₹15-16 crore quarterly, reflecting steady performance (Page 3).
Debt to increase modestly to fund expansion but supported by healthy cash flows from ongoing projects (Page 12).
Delivery of OCs for major projects in FY25 expected to support revenue recognition and profit (Page 14).

See what Arihant Superstructures Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

The company expects to add some more debt in the next 5 to 9 months to fund new projects and acquisitions.
Debt is anticipated to increase by around ₹125 crores from current levels to support business expansion.
Repayments of existing debt (e.g., ICICI Ventures ₹45 crores and Tata Capital via escrow mechanism) are underway and expected to be managed smoothly through operating cash flows.
No specific mention of new equity fundraising was made in the transcript.
The company prefers to fund growth through debt to acquire best lands and develop projects rather than land banking.
Overall, debt is planned to increase short-term for growth but will be serviced steadily with anticipated cash flows from ongoing projects.

Order book

The company is targeting a 25% CAGR from FY23 numbers across all verticals.
FY25 is expected to witness substantial deliveries, including:
- Arihant Aalishan
- Arihant Aspire
- Arihant Anaika 5 at Taloja
- Arihant Aloki
- Partial OCs expected for Arihant Anmol at Badlapur and Aalishan 1 building.
OC timeline:
- H1 FY25: Completion expected for Aalishan.
- H2 FY25: Aspire and Anaika 5 are expected to get OCs.
The company’s sales booking for Q3 FY24 was 483 units worth ₹251 crores.
Pre-sales targets:
- FY24 expected to close at ₹1,000 crores.
- FY25 targeted at ₹1,300 crores; FY26 projected at ₹1,600–1700 crores.
Major contributors to FY25 and FY26 sales include Arihant Advika (₹200 crore estimated for FY25), Arihant Aspire (~₹200 crore), World Villas, Arihant Avanti, Arihant Adarsh, Arihant Anaika 7, and Aaradhya projects.

See what Arihant Superstructures Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Arihant Superstructures plans capital investment in expanding its project portfolio, including projects like Arihant Anaika 7, Arihant World Villas, and Arihant Avanti at Shilphata.
Commencement certificates are awaited for Arihant World Villas, Arihant Avanti, and Arihant Anaika 7, expected by Q4 FY24, enabling launch and construction activities.
The company is investing around Rs. 250 crore to build a 2 lakh sq ft gymkhana and a 221-key hotel at Panvel, anticipating a 15% IRR on this investment.
New project launches and expansions (e.g., additional land for Arihant Aspire adding 5 lakh sq ft and ~Rs. 350 crore revenue potential) indicate ongoing strategic investments.
Debt is expected to increase by approx. Rs. 125 crores to fund acquisitions and projects, with a focus on sustainable growth and project completion to generate cash flows for debt repayment.
The company is selective in land acquisition, focusing mostly on purchases rather than long-term land banking, and prefers JV/JDA models for high-cost land parcels.

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