Any current/future new fundraising through debt or equity?

The company is open to raising capital at an appropriate time to support growth and new opportunities. There is an intent to invite investors through further rounds of preferential allotment to raise funds. Promoters and institutional funds currently contribute to financial outgo; FY25 interest cash outflows expected around INR 50 crore. Cash flows and existing funds will largely be utilized for ongoing project development. Approximately 10% of free cash flows may be used for land acquisition, but larger land payments/business expansions will require external funding. The company continues to

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

Arihant Superstructure Limited has planned capital expenditure (CAPEX) related to the Club 10 Gymkhana project, budgeted around INR 125-150 crore (not INR 250 crore as initially mentioned). The company is investing 100% ownership in this project, which will offer lifestyle opportunities but no ownership to membership holders. Free cash flows are primarily utilized for ongoing projects; approximately 10% of cash flows may be used for land payments or acquisitions. To expand the business and acquire new projects, the company remains open to inviting investors and raising funds at appropria

Future growth expectations in sales/revenue/volumes?

The company targets a 25-30% growth in pre-sales, revenues, EBITDA, and PAT for FY25. Premium housing will increasingly contribute to revenues and EBITDA, boosting overall margins. New project launches and commencement certificates for seven projects set for FY25 will support growth. Collection targets for FY25 are in the range of INR 650-700 crores. The company aims to maintain EBITDA margins moving towards 30%+ with PAT margins around 20%+. Pre-sales guidance is INR 1,300 crores for FY25, with a conservative approach and potential for surprises. Market growth is supported by infrastructure d

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

The company expects 25-30% growth in pre-sales, revenues, EBITDA, and PAT for FY25. EBITDA and PAT margins are also expected to increase alongside this growth. Premium housing will drive higher contributions to revenues and EBITDA, enhancing margins further. EBITDA margin is targeted around 30%+ for new projects, with an overall current margin of ~22.37% expected to improve YoY. PAT margin is anticipated to be around 20%+ over time. Revenue recognition and sales are diversified across affordable, mid-income, and premium segments, supporting balanced growth. Conservative pre-sales g

Current/ Expected Orderbook/ Pending Orders?

The company has a total unsold inventory of about INR 6,500 crores from ongoing projects as of FY24. Additionally, INR 2,300 crores worth of new projects were added in the last financial year. Total projects under development have a Gross Development Value (GDV) of approximately INR 8,800 crores (company’s share). These projects are spread across 17 ongoing projects, with sales and revenue recognition expected over an average of five years. The mix of projects includes affordable housing (35%), mid-income housing (35%), and premium segment (30%). New project launches are planned monthly in FY2

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Arihant Superstructures LtdQ1 FY24Realty

Arihant Superstructures Ltd Q1 FY24 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 2

Margin

Category 1

Fundraise

Yes

Order

Yes

Capex

Yes

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

Full analysis

Revenue guidance

Category 2

→The company targets a 25-30% growth in pre-sales, revenues, EBITDA, and PAT for FY25.
→Premium housing will increasingly contribute to revenues and EBITDA, boosting overall margins.
→New project launches and commencement certificates for seven projects set for FY25 will support growth.
→Collection targets for FY25 are in the range of INR 650-700 crores.
→The company aims to maintain EBITDA margins moving towards 30%+ with PAT margins around 20%+.
→Pre-sales guidance is INR 1,300 crores for FY25, with a conservative approach and potential for surprises.
→Market growth is supported by infrastructure developments such as Navi Mumbai Metro, Atal Setu, and upcoming Navi Mumbai International Airport Terminal 1.
→The business development pipeline is expanding land holdings from 200 acres to approximately 300 acres for future projects.

Margin guidance

Category 1

→The company expects 25-30% growth in pre-sales, revenues, EBITDA, and PAT for FY25.
→EBITDA and PAT margins are also expected to increase alongside this growth.
→Premium housing will drive higher contributions to revenues and EBITDA, enhancing margins further.
→EBITDA margin is targeted around 30%+ for new projects, with an overall current margin of ~22.37% expected to improve YoY.
→PAT margin is anticipated to be around 20%+ over time.
→Revenue recognition and sales are diversified across affordable, mid-income, and premium segments, supporting balanced growth.
→Conservative pre-sales guidance for FY25 is INR 1,300 crore, with potential for upside surprises.
→Continued capital efficiency and operational discipline are expected to support sustainable profitability and EPS growth.

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Fundraise plans

Yes

→The company is open to raising capital at an appropriate time to support growth and new opportunities.
→There is an intent to invite investors through further rounds of preferential allotment to raise funds.
→Promoters and institutional funds currently contribute to financial outgo; FY25 interest cash outflows expected around INR 50 crore.
→Cash flows and existing funds will largely be utilized for ongoing project development.
→Approximately 10% of free cash flows may be used for land acquisition, but larger land payments/business expansions will require external funding.
→The company continues to explore business development opportunities and aims to maintain a strong market position via strategic fundraising when suitable.

Order book

Yes

→The company has a total unsold inventory of about INR 6,500 crores from ongoing projects as of FY24.
→Additionally, INR 2,300 crores worth of new projects were added in the last financial year.
→Total projects under development have a Gross Development Value (GDV) of approximately INR 8,800 crores (company’s share).
→These projects are spread across 17 ongoing projects, with sales and revenue recognition expected over an average of five years.
→The mix of projects includes affordable housing (35%), mid-income housing (35%), and premium segment (30%).
→New project launches are planned monthly in FY25, including World Villas at Chowk, Arihant Avanti at Shilphata, and Arihant 7 Anaika at Taloja.
→The company targets 25-30% growth in pre-sales and revenues in FY25, indicating a strong order book pipeline.

Capex plans

Yes

→Arihant Superstructure Limited has planned capital expenditure (CAPEX) related to the Club 10 Gymkhana project, budgeted around INR 125-150 crore (not INR 250 crore as initially mentioned).
→The company is investing 100% ownership in this project, which will offer lifestyle opportunities but no ownership to membership holders.
→Free cash flows are primarily utilized for ongoing projects; approximately 10% of cash flows may be used for land payments or acquisitions.
→To expand the business and acquire new projects, the company remains open to inviting investors and raising funds at appropriate times.
→Land bank is expected to grow from around 200 acres to 300 acres with a mix of owned lands (75%) and joint developments (20-25%).
→New projects launching in FY25 with commencement certificates secured, indicating ongoing strategic investments in project development.
→Overall, the company plans to maintain capital efficiency and prudent spending aligned with growth and margin improvement objectives.

How does Arihant Superstructures Ltd rank vs peers in Realty?

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