Arvind SmartSpaces Limited Q2 bookings rise 110% to Rs 906 crore

Arvind SmartSpaces Limited reported Q2 FY27 bookings of Rs 906 crore, up 110% from Rs 432 crore a year earlier, as Arvind Sylva in Bengaluru recorded Rs 500 crore of sales bookings within 30 days of its August 2026 launch. Collections rose 77% to Rs 418 crore in the quarter ended September 30, 2026.

How did Arvind SmartSpaces perform in Q2 FY27?

Arvind SmartSpaces reported bookings of Rs 906 crore in Q2 FY27, compared with Rs 432 crore in the previous-year quarter, while collections rose to Rs 418 crore from Rs 236 crore. Management described the quarter as its highest ever for bookings and collections, attributing the increase to new launches and sustained sales at existing projects.

Revenue from operations rose to Rs 157 crore in Q2 FY27 from Rs 141 crore a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation, or adjusted EBITDA, increased to Rs 45 crore from Rs 31 crore, and profit after tax, or PAT, rose to Rs 23 crore from Rs 18 crore.

Net operating cash flows were Rs 152 crore in Q2 FY27, up 88% quarter on quarter and 22% year on year. The announcement does not provide the absolute net operating cash-flow figures for either comparison period, leaving the disclosed percentage changes as the available comparison.

What drove Arvind SmartSpaces' Rs 906 crore bookings?

Arvind Sylva was the largest named contributor to Q2 FY27 bookings, recording Rs 500 crore of sales bookings within 30 days of launch. Arvind SmartSpaces launched the project on Sarjapur Road in Bengaluru in August 2026 and described it as its largest vertical project launched to date. The sales bookings represented about 60% of the project's total inventory.

The Rs 500 crore recorded at Arvind Sylva represented more than half of the Rs 906 crore quarterly booking total. Arvind SmartSpaces said the remaining bookings came from other new launches and sustained sales, but it did not disclose project-level figures for that balance.

Arvind SmartSpaces also launched Arvind Iconia in Vastrapur, Ahmedabad, toward the end of Q2 FY27. The project recorded Rs 81 crore of sales bookings, representing about 21% of its total inventory. The release gives no further project-level booking update after the late-quarter launch.

For H1 FY27, bookings were Rs 1,338 crore, up 120% year on year, while collections increased 77% to Rs 754 crore. Q2 FY27 therefore accounted for Rs 906 crore of half-year bookings and Rs 418 crore of half-year collections, with management describing both half-year measures as record levels.

How did Arvind SmartSpaces' cash flow and debt position change?

Arvind SmartSpaces reported net operating cash flows of Rs 152 crore in Q2 FY27 alongside collections of Rs 418 crore, compared with Rs 236 crore of collections in the prior-year quarter. The release states that operating cash flows increased 88% quarter on quarter and 22% year on year, but does not provide a reconciliation between collections and cash flow.

Net debt, defined in the release as interest-bearing funds, stood at 0.26 times equity on September 30, 2026, compared with 0.29 times on June 30, 2026. The 0.03-times reduction was the disclosed quarter-on-quarter balance-sheet movement; Arvind SmartSpaces did not provide absolute net debt or equity values.

Profitability also increased against the previous-year quarter, with adjusted EBITDA rising by Rs 14 crore to Rs 45 crore and PAT increasing by Rs 5 crore to Rs 23 crore. Revenue grew by Rs 16 crore to Rs 157 crore, although the release does not provide segment revenue, project margins, finance costs or tax details.

What projects has Arvind SmartSpaces added in FY27?

Arvind SmartSpaces entered into a joint development agreement in September 2026 for a residential high-rise project on Sarjapur Road in Bengaluru. The project has estimated revenue potential of about Rs 470 crore and saleable area of around 3.60 lakh square feet. The release does not disclose its launch date or the financial terms of the agreement.

Including additions made in the preceding quarter, the September agreement brought FY27 new-business top-line potential to about Rs 3,100 crore. Management referred to projects with gross development value of Rs 3,100 crore added in the half year ended September 2026, a pipeline measure distinct from the Rs 906 crore of Q2 FY27 sales bookings.

Arvind SmartSpaces identified Ahmedabad, Gandhinagar, Baroda, Bengaluru, the Mumbai Metropolitan Region, or MMR, and Pune as focus geographies. Its company profile states that it has about 100.4 million square feet of real-estate development across India, while the Q2 FY27 project announcements specifically concerned Bengaluru and Ahmedabad.

Conclusion

Arvind SmartSpaces' Q2 FY27 performance combined a 110% increase in bookings to Rs 906 crore with a 77% increase in collections to Rs 418 crore. Arvind Sylva supplied Rs 500 crore of bookings within 30 days, while revenue reached Rs 157 crore, adjusted EBITDA was Rs 45 crore, PAT was Rs 23 crore and net operating cash flows were Rs 152 crore.

The next disclosed development to watch is management's plan to convert its pipeline into launches and deliveries while remaining prudent on capital. That pipeline includes about Rs 3,100 crore of FY27 new-business top-line potential, including the Bengaluru joint development project announced in September 2026 with estimated revenue potential of about Rs 470 crore and saleable area of around 3.60 lakh square feet.