Current/ Expected Orderbook/ Pending Orders?

The total revenue potential from ongoing and future projects is close to Rs. 7,000 Crores. Future projects worth around Rs. 4,600 Crores have already received all necessary approvals and are scheduled for launch within the current year. The company expects to achieve cumulative pre-sales of approximately Rs. 6,000 to 7,000 Crores over the next three years. There are about 11 project launches planned in the current financial year (5 mega launches and 6 smaller ones). Inventory on shelf comprises roughly 5,500 flats, with a target to sell about 3,000 flats in this financial year. Additional land

Any current/future new fundraising through debt or equity?

The company has raised around Rs. 45 Crores from ICICI Venture through a free float fund to fund new projects without lender charges or escrow mechanisms, providing flexibility and supporting growth. (Page 5-6) Equity or platform deals typically come at an annual cost of 20% to 24%. The company secured funds at a favorable rate of 16.45%, which is lower than market costs for similar funds. (Page 17) The company prefers raising funds through equity rather than debt for greater shareholder benefits, especially as construction funding availability (at ~11%) is insufficient for land acquisition

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

Company is in a strong expansion mode aiming to grow its project portfolio significantly. Raised ₹45 Crores from ICICI Venture to fund projects with free cash flows and no escrow account, enabling growth and flexibility. Identified several projects for acquisition with planned closures post due diligence. Five mega launches and six smaller project launches are scheduled for the current financial year, with total inventory of 5,500 flats. Future projects worth around ₹4,600 Crores have received all approvals and are targeted for launch this year. The company expects to sell approximately ₹6,000

Future growth expectations in sales/revenue/volumes?

Targeting a 50% CAGR in sales compared to FY2022. Plan to add approximately 2,600 new units in FY2023 to the existing 2,600 unsold units (~25 lakh sqft with revenue potential of Rs.1,200 Crores). Expect to achieve cumulative pre-sales of Rs.6,000 to 7,000 Crores from ongoing and future projects within 3 years. Anticipate around 3,000 flat sales in FY2023, targeting sales value between Rs.1,650 to 1,800 Crores. Sales include both mega launches (approx. 11 projects planned in FY2023) and smaller projects. Expect collection of around Rs.700 Crores in FY2023. Revenue for FY2022 was Rs.332.5 Crores

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

The company expects a strong growth trajectory with a CAGR of around 50% in the current financial year, followed by 33-40% in the next year, and approximately 30% in the third year. FY2022 showed a 74% growth in sales value, 42.1% growth in EBITDA, and 163% increase in PAT, reflecting robust operating performance. EPS for FY2022 rose 270% to Rs. 10.02, with ROE crossing 20% versus 11% in FY2021, indicating improving returns. The company plans multiple new project launches and aggressive sales targets (approx. 1,650-1,800 Crores in FY2023 sales). Operating margins improved with EBITDA margin ex

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Arihant Superstructures LtdQ1 FY22Realty

Arihant Superstructures Ltd Q1 FY22 Earnings Call Analysis

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

Price: ₹255P/E: 25.3Market Cap: ₹1.2K CrSector: Realty

Management growth scorecard

Revenue

Category 1

Margin

Category 1

Fundraise

Yes

Order

Yes

Capex

Yes

5 of 5 growth signals are positive — a strong management growth story.

Full analysis

Revenue guidance

Category 1

→Targeting a 50% CAGR in sales compared to FY2022.
→Plan to add approximately 2,600 new units in FY2023 to the existing 2,600 unsold units (~25 lakh sqft with revenue potential of Rs.1,200 Crores).
→Expect to achieve cumulative pre-sales of Rs.6,000 to 7,000 Crores from ongoing and future projects within 3 years.
→Anticipate around 3,000 flat sales in FY2023, targeting sales value between Rs.1,650 to 1,800 Crores.
→Sales include both mega launches (approx. 11 projects planned in FY2023) and smaller projects.
→Expect collection of around Rs.700 Crores in FY2023.
→Revenue for FY2022 was Rs.332.5 Crores with 22% YoY growth; expect continued strong growth aligned with sales and launches.
→The company aims for robust expansion backed by strong engineering spends and efficient cash flow management.

Margin guidance

Category 1

→The company expects a strong growth trajectory with a CAGR of around 50% in the current financial year, followed by 33-40% in the next year, and approximately 30% in the third year.
→FY2022 showed a 74% growth in sales value, 42.1% growth in EBITDA, and 163% increase in PAT, reflecting robust operating performance.
→EPS for FY2022 rose 270% to Rs. 10.02, with ROE crossing 20% versus 11% in FY2021, indicating improving returns.
→The company plans multiple new project launches and aggressive sales targets (approx. 1,650-1,800 Crores in FY2023 sales).
→Operating margins improved with EBITDA margin expanding by 301 basis points to 21.4% in FY2022.
→Expansion supported by strategic funding from ICICI Ventures and focus on affordable housing segments.
→Management expects continued operational growth fueled by increased sales, collections, and improved pricing power.

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Fundraise plans

Yes

→The company has raised around Rs. 45 Crores from ICICI Venture through a free float fund to fund new projects without lender charges or escrow mechanisms, providing flexibility and supporting growth. (Page 5-6)
→Equity or platform deals typically come at an annual cost of 20% to 24%. The company secured funds at a favorable rate of 16.45%, which is lower than market costs for similar funds. (Page 17)
→The company prefers raising funds through equity rather than debt for greater shareholder benefits, especially as construction funding availability (at ~11%) is insufficient for land acquisition needs. (Page 16-17)
→No explicit mention of planned new debt issuances or public equity fundraising beyond the ICICI Venture fund raise and existing mechanisms. (Aggregate information)

Order book

Yes

→The total revenue potential from ongoing and future projects is close to Rs. 7,000 Crores.
→Future projects worth around Rs. 4,600 Crores have already received all necessary approvals and are scheduled for launch within the current year.
→The company expects to achieve cumulative pre-sales of approximately Rs. 6,000 to 7,000 Crores over the next three years.
→There are about 11 project launches planned in the current financial year (5 mega launches and 6 smaller ones).
→Inventory on shelf comprises roughly 5,500 flats, with a target to sell about 3,000 flats in this financial year.
→Additional land parcels worth around Rs. 100 Crores are yet to be designed or utilized and may be added to the project pipeline.

Capex plans

Yes

→Company is in a strong expansion mode aiming to grow its project portfolio significantly.
→Raised ₹45 Crores from ICICI Venture to fund projects with free cash flows and no escrow account, enabling growth and flexibility.
→Identified several projects for acquisition with planned closures post due diligence.
→Five mega launches and six smaller project launches are scheduled for the current financial year, with total inventory of 5,500 flats.
→Future projects worth around ₹4,600 Crores have received all approvals and are targeted for launch this year.
→The company expects to sell approximately ₹6,000 to ₹7,000 Crores worth of inventory over the next three years.
→Construction outflows estimated at ₹400 Crores for FY2023 to support ongoing development.
→Land purchases continue, e.g., 7 acres in Kalyan extension for ₹22 Crores this year.
→No current dividend declared to retain funds for expansion and capital requirements.

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