Step up in pace of project additions :
Arvind has launched 4 projects, and it is expecting to launch min 6-8 projects during FY25 as multiple projects are in active discussion to get signed in the coming quarters
Brand recall
Using its strong brand recall in Ahmedabad & Bangaluru markets as it has managed to quickly ramp-up its foothold in housing market in these regions. They also entered into Surat with a large deal and already scouting for deals in MMR region.
MMR region can be big approx 20% of the project mix.
Personally, i guess we can model Arvind Smartspaces to be at par with other leading listed players. They are asset light and they did show consistent growth in pre-sales, they also have faster turnaround visible via OCF generation.
Pre sales in FY26 43% CAGR over FY24-26E
Embedded margin 27%
Do note OCF conversion ratio here is 50% of collection coz of shorter cycle for horizontal projects.
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