Realty firm Arvind SmartSpaces Ltd on Wednesday (January 29) reported a 331% year-on-year (YoY) spike in net profit at ₹50 crore for the third quarter that ended December 31, 2024.

In the corresponding quarter of the previous fiscal, Arvind SmartSpaces posted a net profit of ₹12 crore, the company said in a regulatory filing. The company’s revenue from operations zoomed 149% to ₹210 crore as against ₹84 crore in the corresponding period of the preceding fiscal.

Arvind SmartSpaces reported a 188% year-on-year increase in adjusted EBITDA for Q3 FY25, reaching ₹60 crore compared to ₹21 crore in the same period last year. However, the company’s bookings stood at ₹224 crore, down from ₹280 crore in the previous year.

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Collections improved by 18% to ₹229 crore from ₹194 crore last year. The company’s net debt (interest-bearing funds) stood at ₹196 crore as of December 31, 2024, compared to ₹195 crore on September 30, 2024. The net debt-to-equity ratio improved to 0.34 from 0.37 during the same period.

Arvind SmartSpaces entered the Mumbai Metropolitan Region (MMR) with a ₹1,500 crore horizontal township project spread over approximately 92 acres near Khopoli in Mumbai 3.0. The project has been signed under a joint development model with a 70.5% revenue share.

Additionally, the company signed an agreement to develop a mega industrial park in Ahmedabad, spanning around 440 acres, with a top-line potential of ₹1,350 crore. This joint development project, also with a 70.5% revenue share, is located on NH47, Bavla-Bagodara Road, and is expected to be one of the largest industrial parks in Gujarat.

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Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, said, “Our 9M performance, has been best ever in terms of bookings and collections. Our operations cycle remains strong with operating cash flows of ₹277 crore during the nine months. Further, the size and scale of P&L is catching up with our operational performance, with PAT of ₹97 crore during 9M FY25.”

The results came after the close of the market hours. Shares of Arvind Smartspaces Ltd ended at ₹745.15, up by ₹51.20 or 7.38% on the BSE.