Arvind SmartSpaces Q3 profit drops 28 pc to Rs 4.24 cr

Realty firm Arvind SmartSpaces Ltd on Monday reported a 28 per cent decline in its consolidated net profit at Rs 4.24 crore for the quarter ended December.

Its net profit stood at Rs 5.91 crore in the year-ago period, the Ahmedabad-based firm said in a regulatory filing.

Total income grew to Rs 55.22 crore in the third quarter of this fiscal from Rs 44.93 crore in the year-ago period.

Sales bookings increased by 58 per cent to Rs 250 crore in the December quarter of 2022-23 from Rs 158 crore in the year-ago period. The sales bookings rose 24 per cent to Rs 558 crore from Rs 451 crore earlier.

Arvind SmartSpaces, part of the Lalbhai Group, has about 30 million square feet of real estate development across Ahmedabad, Gandhinagar, Bengaluru and Pune.

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