Arihant: Rs 10,000 crore pipeline, Rs 908.3 crore to complete projects

Arihant Superstructures Limited (Arihant) discloses a forthcoming residential portfolio with management-stated revenue potential of Rs 10,000 crore, while its detailed ongoing-project table shows Rs 908.3 crore of estimated balance cost to complete across 13 entries. The planned portfolio covers 14.6 million square feet, subject to regulatory approvals and management estimates.

How large is Arihant’s forthcoming residential pipeline?

Arihant’s forthcoming residential project tables list 8,491 units, 1,45,64,668 square feet of saleable area and Rs 10,358 crore of revenue potential across Mumbai Metropolitan Region (MMR) and Jodhpur. Separately, management describes the portfolio as 14.6 million square feet with revenue potential of Rs 10,000 crore. The presentation says area potential is subject to regulatory plan approvals and that management estimates may change.

MMR accounts for 6,523 units, 1,27,34,215 square feet and Rs 9,668 crore of the project-table potential, compared with 1,968 units, 18,30,453 square feet and Rs 690 crore in Jodhpur. This means the future mix is concentrated in MMR: its stated potential is about 14 times the Jodhpur amount, while Jodhpur consists of two wholly owned affordable projects.

The stated pipeline includes premium, mid-income and affordable developments. Premium World Villas and Town Villas in Chowk together account for 1,815 units, 72,84,482 square feet and Rs 6,000 crore of potential. The planned Panvel Aspire project is the next-largest individual entry at Rs 1,450 crore, with 840 units, 18,57,298 square feet and 60% economic interest.

Which projects account for Arihant’s largest planned potential?

Arihant’s Town Villas project in Chowk has the highest stated future potential at Rs 4,800 crore. The premium development is listed with 1,600 units, 58,80,000 square feet of saleable area and 100% economic interest for Arihant. Its potential represents nearly half of the Rs 10,358 crore combined total shown in the individual forthcoming-project tables.

World Villas is separately listed as a future 215-unit premium project in Chowk with Rs 1,200 crore of potential and 14,04,482 square feet. It is distinct from World Villas Phase 1 in the ongoing-project table, which has 180 units, 4,30,812 square feet sold, Rs 170.4 crore of booked-area sale value and 30.07% completion.

The affordable pipeline is led by Anchal at Dal Bai Circle, Jodhpur, which has 1,848 units and Rs 650 crore of potential. Other forthcoming affordable developments include Arshiya in Khopoli with Rs 320 crore, Aaradhya in Kalyan Annexe with Rs 145 crore and Aayan in Titwala with Rs 93 crore. Arihant has 60% economic interest in the planned Panvel, Amisha, Anmol and Aloki projects, while the remaining listed forthcoming projects carry 100% economic interest.

How much does Arihant estimate it needs to complete ongoing projects?

Arihant estimates Rs 908.3 crore of balance cost to complete across the 13 entries in its detailed ongoing residential-project table. The same table reports 5,951 units, of which 3,235 were booked, alongside Rs 2,374.1 crore of booked-area sale value, Rs 1,791.1 crore received and Rs 2,343.5 crore of total estimated receivables.

World Villas Phase 1 has the largest stated balance completion cost at Rs 181.3 crore and was 30.07% complete. Avanti Phase 1 and 2 follows with Rs 168.2 crore remaining at 14.39% completion, followed by Adarsh Phase 1 at Rs 124.9 crore and Aspire Phase 2 and 3 at Rs 115.7 crore. These four entries total Rs 590.1 crore, or about 65% of the disclosed ongoing completion-cost estimate.

The portfolio also shows Rs 1,795.1 crore of unsold inventory value against Rs 1,791.1 crore of amounts received. Aspire Phase 1 is almost complete at 99.90%, with 1,148 bookings out of 1,210 units and Rs 0.3 crore of estimated cost remaining. At the earlier end, 7 Anaika is 9.33% complete, Aditya Phase 5 is 11.09% complete and Avanti Phase 1 and 2 is 14.39% complete.

What do Arihant’s project disclosures show about sales and execution?

Arihant’s sales progress differs materially across the disclosed ongoing entries. Aspire Phase 1 has sold 11,47,717 square feet from 12,12,911 square feet of saleable area, whereas World Villas Phase 1 has sold 4,30,812 square feet from 10,58,193 square feet. Advika has 171 bookings out of 327 units, Rs 482.5 crore of estimated receivables and Rs 354.8 crore of unsold inventory value.

The presentation’s operating metrics show higher activity in FY26 than FY20. Pre-sales rose to Rs 977.4 crore in FY26 from Rs 476 crore in FY20, while collections increased to Rs 538.9 crore from Rs 287 crore and revenue rose to Rs 551 crore from Rs 270.2 crore. These figures provide a period comparison, but the project tables do not specify the dates at which individual booking, receipt or completion figures were measured.

Arihant’s detailed table and project-summary slides also use different project disclosures that require reconciliation. The detailed table lists 7 Anaika with 549 units and 9.33% completion, while the summary slide describes Arihant 5 Anaika with 433 units and an occupation certificate, or OC, received. The presentation does not explain whether these labels refer to different phases, revised plans or separate developments.

What are the main disclosure limits in Arihant’s residential pipeline?

Arihant’s stated Rs 10,000 crore pipeline is a management estimate rather than a confirmed sales figure. The detailed forthcoming tables total Rs 10,358 crore, while the accompanying text rounds the portfolio’s potential to Rs 10,000 crore. The source specifically qualifies both area potential and management estimates as subject to regulatory approvals and change.

The presentation provides project-level sale values, receipts, receivables, inventory values and completion-cost estimates for ongoing entries, but it does not disclose launch dates, project-level funding sources or a portfolio-wide completion schedule. For example, Town Villas has Rs 4,800 crore of stated future potential, but the source gives no construction-cost estimate or launch timing for that project.

The different economic-interest structures also affect how project potential relates to Arihant. The forthcoming MMR table includes five projects with 60% economic interest, including the Rs 1,450 crore Aspire project and the Rs 850 crore unnamed Panvel project. The presentation states gross project potential for those developments, rather than presenting a separate potential figure adjusted for Arihant’s economic interest.

Conclusion

Arihant’s disclosures show a large planned residential pipeline, with MMR contributing Rs 9,668 crore of the Rs 10,358 crore total in the detailed forthcoming tables, led by Rs 4,800 crore of Town Villas potential. The ongoing portfolio has Rs 908.3 crore of estimated cost still to complete, concentrated in World Villas Phase 1, Avanti Phase 1 and 2, Adarsh Phase 1, and Aspire Phase 2 and 3.

The next items to watch are regulatory plan approvals for the 14.6 million-square-foot forthcoming portfolio and revisions to management estimates, which the presentation says may change. Project updates on World Villas Phase 1 at 30.07% completion, Avanti Phase 1 and 2 at 14.39%, and the differing 7 Anaika and Arihant 5 Anaika disclosures would also clarify execution progress.