Earnings | Arvind Smartspaces Ltd (NSE: ARVSMART): Q4FY23 Results Out; Total Income fell 43% YoY.

Arvind Smartspaces Ltd, initially known as “Arvind Infrastructure Limited,” was established in 2008 in Ahmedabad as a wholly-owned subsidiary of Arvind Limited. The primary aim of the company was to engage in real estate and infrastructure development. As the real estate arm of the Lalbhai Group, a prominent conglomerate valued at $2 billion, Arvind Smartspaces is actively involved in various projects. Through a combination of self-owned land, joint ventures, and joint development models, the company is presently executing nine projects. Arvind Smartspaces leverages its expertise and the strong backing of the Lalbhai Group to contribute to the real estate landscape with its development initiatives.

• Arvind Smartspaces Ltd reported Total Income for Q4 FY23 of ₹93 Crore down from ₹163 Crore year on year, a negative growth of 43%.
• Total Expenses for Q4 FY23 of ₹79 Crore down from ₹141 Crore year on year, a negative growth of 44%.
• Consolidated Net Profit of ₹10 Crore, down 28% from ₹14 Crore in the same quarter of the previous year.
• The Earnings per Share is ₹2.05, down 37% from ₹3.29 in the same quarter of the previous year.