Operational highlights:
- Total revenue of 89.61 cr, with EBITDA of 19.90 cr. EBITDA margin stood at 21.3%. Company reported PAT of 10.70 cr with 11.94% margins.
- Sold 0.405 million square feet in area with 533 units sold.
- Values of sales stood at INR 234.8 cr and total collection was INR 110.6 cr.
- Received OC for two projects in Taloja with delivery of 390 units.
- Management guided for a CAGR of 45% to 50% on sales and revenue figures.
- In the next three years, management plans to deliver 1,000 to 1,200 units per year from existing inventory and ongoing projects.
- Total portfolio value around INR 7,680 cr.
- Estimated receivables stand around Rs. 52 cr, which includes Rs. 20 cr from 90 unsold units(60,000 sq.Ft) and Rs. 32 cr as receivables from completed projects.
- Business developments:
- New Titwala Project.
- Acquired 10,660 square meters of land in Titwala for an affordable housing project.
- Saleable area of this project is 3,74,000 square feet and Revenue potential at INR 220 cr.
- This project will get approvals in the next quarter and 200 units will be opened for sales.
- New Shil-Phata Project.
- Entered into a Joint Development for a 15,980 square meters plot at Shil-Phata in Thane District.
- Total saleable area of 6,80,000 square feet and revenue potential of INR 400 cr.
- This project may get approvals by December and sales will start in Q4.
- Land was purchased with debt from ICICI Ventures at 16.43% interest rate.
New Taloja Launch.
- Launched “Arihant Aakarshan” at Taloja which is an affordable housing project spread across 10 acres of land.
- Project details:
- Towers launched: 4
- No. of units: 439
- Units booked: 266
Advika, Vashi:
- Advika Vashi is a premium redevelopment project where selling prices are around 15,000, Rs.16,000 per square feet.
- Project size: Rs. 671 cr
- Total units: 327
- Total saleable area: 4,21,260 Sq Ft
- Units Sold: 28
- Sales value: Rs. 59 cr
Arihant Aalishan,Kharghar:
- RCC work was completed for 2 out of 4 towers, with sales bookings of 46%.
- Completion status for Phase I is 54% and Phase II is 7%.
- Phase I will be delivered by FY23.
- Total units: 811
- Total saleable area: 10,01,147 Sq Ft
- Units Sold: 387
- Sales value: Rs. 368 cr
Arihant Aspire, Panvel:
- Project includes three towers, out of which two were launched 3 years back and the third in Feb 22.
- Completion status for all three towers stood at 55% while sales bookings were at 63%. Phase I of Arihant Aspire will be delivered in FY23.
- Total units: 1,152
- Total saleable area: 11,82,628 Sq Ft
- Units Sold: 750
- Sales value: Rs. 459 cr
- Acquired 4,150 square meters of land in Taloja, Navi Mumbai with acquisition cost of Rs. 2.5 cr.
- Three new projects of 1.2 million square feet will have GDV of INR 640 cr and 14 million square feet of development potential in ongoing and upcoming projects. 2,400 units lined up for sale in the next three quarters.
- Kalyan Project received 80 IBA and will start sales in the month of September.
- Management is planning to open new buildings in Arihant Amisha which is located at Taloja MIDC.
- Will launch a 43 storey tower in Arihant Aspire Panvel, with 370 units. Also one tower will be opened for sale in Arihant Anmol at Badlapur.
- New inventory at Arihant Aakarshan at Taloja & Arihant Arshiya in Khopoli will be launched.
- New tower will be launched at Arihant Aloki in Karjat. This will be the second last tower in the project.
- Total area of 2 million square feet will be launched this year with revenue potential of INR 1,100 cr.
- Unutilised land parcel of around 5,500 square feet in Panvel valued at Rs. 125 cr. This land has revenue potential of Rs. 780 cr.
- Un-launched inventory is of around Rs. 5,500 cr from which Arihant has approvals for Rs. 4000 cr.
Cost of construction and PBT Breakup
Cost and margin breakup for projects.
- Cost of construction: Rs.2,850 per sq.Ft
- Land cost : Rs. 300 per sq.Ft
- Administration cost: Rs. 200 per sq.Ft
- Marketing cost: Rs. 200 per sq.Ft
- Total Cost: around Rs. 3,800 per sq.feet
- Selling Price: Rs. 5,500 per sq.Ft
- PBT: Rs 1,600 per sq.Ft
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The Real Person!
The Real Person!
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