India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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Equity Bottom-Up

<ul>
<li>With an asset-light model and a solid alliance with HDFC, <a href="https://www.smartkarma.com/entities/arvind-smartspaces-limited" target="_blank" data-smartkarma-citation="entities:43948:1" rel="noopener">Arvind SmartSpaces (ARVSMART IN)</a> greatly increases its project pipeline to 75.47Mn square feet, propelling a 30–35% increase in business development.</li>
<li>Together with its strong market positions in Bangalore and Ahmedabad, the company's strategic asset-light approach guarantees effective capital use, rapid project turnover, and improved cash flow visibility.</li>
<li>Arvind Smartspaces is well-positioned for long-term, high-margin growth supported by strong cash flows, minimal leverage, and distinct geographic and product diversification.</li>
</ul>


With an asset-light model and a solid alliance with HDFC, Arvind SmartSpaces (ARVSMART IN) greatly increases its project pipeline to 75.47Mn square feet, propelling a 30–35% increase in business development.
Together with its strong market positions in Bangalore and Ahmedabad, the company's strategic asset-light approach guarantees effective capital use, rapid project turnover, and improved cash flow visibility.
Arvind Smartspaces is well-positioned for long-term, high-margin growth supported by strong cash flows, minimal leverage, and distinct geographic and product diversification.


The Beat Ideas: Arvind Smartspaces- Growing Real Estate Co with Asset Light Model

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>New Launches and Business Development: The management has guided a pre-sales CAGR of 30%-35%, maintaining confidence in achieving this target.</li><li>In Q2FY25, the company launched ‘Arvind Aqua City,’ with total bookings at Rs 500 Cr for the quarter, bringing cumulative bookings to approximately Rs 600 Cr, including Rs 93 Cr from Q1FY25.</li><li>Projects valued at Rs 4,000-5,000 Cr are expected to be added during the fiscal year, with the majority of launches concentrated in H2FY25 following Aqua City (~Rs 1,000 Cr). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

New Launches and Business Development: The management has guided a pre-sales CAGR of 30%-35%, maintaining confidence in achieving this target.In Q2FY25, the company launched ‘Arvind Aqua City,’ with total bookings at Rs 500 Cr for the quarter, bringing cumulative bookings to approximately Rs 600 Cr, including Rs 93 Cr from Q1FY25.Projects valued at Rs 4,000-5,000 Cr are expected to be added during the fiscal year, with the majority of launches concentrated in H2FY25 following Aqua City (~Rs 1,000 Cr). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Arvind Smartspaces Ltd - Management Guidance Maintained; Maintain BUY

<ul><li>We are initiating coverage on Arvind Smartspaces Ltd. (ARVSMART) with a BUY recommendation and a target price of Rs 1,085/share, which implies an upside of 43% from the CMP.</li><li>Arvind Smartspaces began operations in 1897 when Lalbhai Dalpatbhai established the company's first textile mill.</li><li>Over the years, the business portfolio expanded to include textiles, dyes, chemicals, real estate, and engineering ventures, which were later demerged in 2016. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We are initiating coverage on Arvind Smartspaces Ltd. (ARVSMART) with a BUY recommendation and a target price of Rs 1,085/share, which implies an upside of 43% from the CMP.Arvind Smartspaces began operations in 1897 when Lalbhai Dalpatbhai established the company's first textile mill.Over the years, the business portfolio expanded to include textiles, dyes, chemicals, real estate, and engineering ventures, which were later demerged in 2016. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Arvind Smartspaces (ARVSMART) - BUILDING A ‘SMART SPACE’

Thematic (Sector/Industry)

<ul><li>Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.</li><li>Notably, our benchmark index, the Nifty 50, reached the historic milestone of 26,216 on September 26, 2024, for the first time ever.</li><li>This achievement has propelled the Indian market capitalization to surpass the $5 Trillion mark, positioning it as the fourth largest market globally. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.Notably, our benchmark index, the Nifty 50, reached the historic milestone of 26,216 on September 26, 2024, for the first time ever.This achievement has propelled the Indian market capitalization to surpass the $5 Trillion mark, positioning it as the fourth largest market globally. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Arvind SmartSpaces Limited operates as a real estate company. The Company focuses on the residential and commercial property and land development. Arvind SmartSpaces conducts business in India.

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Arvind SmartSpaces (ARVSMART IN)

The Beat Ideas: Arvind Smartspaces- Growing Real Estate Co with Asset Light Model

Arvind SmartSpaces boosts project pipeline to 75.47Mn sq ft with asset-light model and HDFC alliance, driving 30-35% business growth.

Sudarshan Bhandari

Arvind Smartspaces Ltd - Management Guidance Maintained; Maintain BUY

New Launches and Business Development: The management has guided a pre-sales CAGR of 30%-35%, maintaining confidence in achieving this target.

Axis Direct

Arvind Smartspaces (ARVSMART) - BUILDING A ‘SMART SPACE’

We are initiating coverage on Arvind Smartspaces Ltd. (ARVSMART) with a BUY recommendation and a target price of Rs 1,085/share, which implies an...

Axis Direct

Diamonds In The Dust - Samvat 2081

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Beat Ideas: Arvind Smartspaces- Growing Real Estate Co with Asset Light Model

​Arvind SmartSpaces boosts project pipeline to 75.47Mn sq ft with asset-light model and HDFC alliance, driving 30-35% business growth.

Sudarshan Bhandari

Arvind Smartspaces Ltd - Management Guidance Maintained; Maintain BUY

New Launches and Business Development: The management has guided a pre-sales CAGR of 30%-35%, maintaining confidence in achieving this target.

Axis Direct

Arvind Smartspaces (ARVSMART) - BUILDING A ‘SMART SPACE’

We are initiating coverage on Arvind Smartspaces Ltd. (ARVSMART) with a BUY recommendation and a target price of Rs 1,085/share, which implies an...

Axis Direct

Diamonds In The Dust - Samvat 2081

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.

Axis Direct

Arvind SmartSpaces boosts project pipeline to 75.47Mn sq ft with asset-light model and HDFC alliance, driving 30-35% business growth.