Arihant Superstructures Limited - Operational Highlight for FY22

Financial Year 2022 started with flying numbers consistently in terms of sales despite withdrawal of stamp duty. This momentum continued throughout the year as it got fueled with prices increasing gradually upto 10% YoY. The price rise was happened due to increase in raw material cost. The cost of price rise effectively at Arihant and its project design in material cost works out to be Rs 300/- per sq.ft and average increase in sales price was upto the extent of Rs 500/- per sq.ft protecting and safe guarding the margins. For our internal project workings we had factored unforeseen circumstances thus remain conservative on the selling price whereas we build in aggressive cost price.

Our numbers across most verticals have witnessed a CAGR of more than 50% YOY. The reported sales numbers for FY22 are approximately 1,650 units aggregating to ~14 lakh sft with a booking value of RS 780 Crores as compared to 934 units aggregatingto 8.7 lakh sft with a booking value of Rs 400 Crores in FY21 marking strong footprint in affordable housing segment and income tax 80 I.B project benefiting the holding company.

The collections across projects touched Rs 415 Crores (unaudited) in FY22 as compared to Rs. 287 Crores in FY21. The engineering spends targeted at Rs. 240 Crores were also achieved. The year showed results beyond our expectations. The budgets across all business verticals are planned with very aggressive targeted growth of 50% for FY23 in terms of operational parameters towards sales, engineering, collections, HR & Advertisements spends moving up the EBIDTA. The company successfully received approvals for 2 Mega projects, Arihant Akarshan at Taloja on 10 acres and Arihant Aaradhaya at Kalyan extension on 7 acres with a total revenue potential of Rs 1,000 Crores and both projects benefiting from Sec 80-1B resulting in income tax exemption for the projects.

The employees were highly motivated & charged, contributing towards the growth of company's vision and objectives. The employee's strength was increased from 332 to 380 in this financial year. Efficiency and speed were the key goals for each employee.

The company postponed its fund-raising program through dilution of equity and plans for the same after achieving the visible exponential business growth. The BRAND "ARIHANT" is the undisputed leader in the micro market of "NAVI-MUMBAI", which incidentally is among the fastest growing city in India with high real estate potential & in JODHPUR (RAJASTHAN)".

Shares of Arihant Superstructures Limited was last trading in BSE at Rs. 136.95 as compared to the previous close of Rs. 138.00. The total number of shares traded during the day was 31500 in over 394 trades.

The stock hit an intraday high of Rs. 139.95 and intraday low of 136.00. The net turnover during the day was Rs. 4364698.00.

Source : Equity Bulls

Keywords

ArihantSuperstructures INE643K01018 FY2022 OperationalHighlights