Arvind Smartspaces Q2 net profit dives 65% to ₹14 crore on revenue and margin drop

Realty firm Arvind Smartspaces Ltd reported a 65% year-on-year decline in net profit for the quarter ended September 30, 2025, at ₹14 crore, down from ₹41 crore in Q2 FY25.

Revenue for the quarter fell 47% YoY to ₹140.5 crore from ₹265.5 crore in the same period last year. EBITDA for the quarter declined 56% YoY to ₹29.2 crore, compared with ₹66.4 crore in Q2 FY25, with margins narrowing to 20.7% from 25% a year ago.

For H1 FY26, the company recorded bookings of ₹607 crore, slightly lower than ₹666 crore in H1 FY25, while collections stood at ₹427 crore compared with ₹497 crore last year.

Revenue from operations was ₹242 crore versus ₹340 crore in H1 FY25. Adjusted EBITDA for the half-year was ₹55.5 crore, down from ₹91 crore, and PAT amounted to ₹30 crore compared with ₹47 crore in the same period last year.

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In Q2 FY26, quarterly bookings surged 147% quarter-on-quarter to ₹432 crore, although they were lower than ₹464 crore in Q2 FY25. The launch of Arvind Everland at Mankol, Sanand contributed significantly, with sales bookings of 954 units amounting to ₹400 crore, representing 82% of the launched inventory.

Quarterly collections improved 23% QoQ to ₹236 crore, slightly lower than ₹263 crore in Q2 FY25. Revenue from operations for the quarter was ₹140 crore, up 38% sequentially but down from ₹266 crore in Q2 FY25. Adjusted EBITDA was ₹31 crore, rising 27% QoQ but lower than ₹83 crore YoY, while PAT stood at ₹18 crore, up 51% QoQ yet down from ₹43 crore a year ago.

Net debt (interest-bearing funds) improved to negative ₹32 crore as of September 30, 2025, from negative ₹50 crore on June 30, 2025. The net debt-to-equity ratio stood at (0.05) versus (0.08) at the end of the previous quarter.

Also Read: Arvind SmartSpaces eyes 35-40% growth in bookings this year

On the business development front, the company entered Vadodara with a ₹700 crore horizontal township project spread over 98 acres, signed under a joint development model with 68% revenue share. The company’s pipeline remains strong, with plans to add new projects across Gujarat, Bengaluru, and MMR, supporting growth in key markets.

Shares of Arvind Smartspaces Ltd ended at ₹627.00, down by ₹12.95, or 2.02%, on the BSE.