Incorporated in 1994, Arihant Superstructures Ltd is in the business of real estatedevelopment[1]
Business Overview:[1]a)ASL is a real estate player in affordable and mid-income housing segment in the MMR regionb)It has recently ventured into premium luxury real estate segment to develop Villa projects, a hotel and a sports gymkhanac)Company has expertise in land acquisition & procurement, liaison, design & engineering, EPC and marketing & salesd)Company enters into JD, JV, and DM arrangements in the mid-income segment to remain Asset-Light with ~19% of Ongoing development area on asset-light model
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | DLF | 649.65 | 41.73 | 161068.39 | 0.92 | 1180.09 | -27.08 | 1643.04 | -16.81 | 6.51 | 9016.03 | 22.47 | 3859.74 | 1007.10 | 3.74 | 7.30 | 0.04 |
| 2. | Lodha Developers | 1070.00 | 32.10 | 106889.65 | 0.40 | 789.80 | 86.50 | 3798.50 | 44.67 | 15.62 | 15597.50 | 29.61 | 3329.50 | 788.70 | 5.03 | 5.70 | 0.45 |
| 3. | Phoenix Mills | 1857.40 | 62.12 | 66452.32 | 0.13 | 384.09 | 39.38 | 1115.43 | 21.51 | 10.75 | 4059.89 | 57.73 | 1069.86 | 303.99 | 6.15 | 6.11 | 0.46 |
| 4. | Prestige Estates | 1524.80 | 85.93 | 65780.78 | 0.12 | 457.40 | 123.88 | 2431.70 | 5.52 | 7.66 | 7921.90 | 36.60 | 765.50 | 430.30 | 4.15 | 1.15 | 0.92 |
| 5. | Oberoi Realty | 1666.80 | 27.16 | 60643.85 | 0.48 | 760.26 | 28.98 | 1779.04 | 34.79 | 17.73 | 5327.81 | 56.59 | 2233.06 | 760.26 | 3.63 | 10.23 | 0.18 |
| 6. | Godrej Propert. | 1888.95 | 36.71 | 56888.77 | 0.00 | 402.99 | 20.84 | 740.38 | -32.28 | 6.57 | 4265.55 | -18.34 | 1549.83 | 405.08 | 3.11 | 2.67 | 0.89 |
| 7. | Brigade Enterpr. | 835.00 | 25.66 | 20411.97 | 0.30 | 170.28 | 36.58 | 1383.37 | 29.03 | 13.34 | 5588.84 | 26.50 | 795.44 | 162.50 | 3.15 | 3.39 | 0.83 |
| 8. | Arihant Super. | 312.65 | 87.57 | 1356.39 | 0.48 | 0.34 | -92.18 | 13.17 | -45.49 | 5.07 | 97.38 | 31.56 | 15.49 | 0.34 | 5.33 | 3.23 | 1.52 |
| – | Median: 93 Co. | 175.0 | 33.4 | 837.55 | 0.0 | 4.26 | 5.88 | 46.19 | 9.98 | 7.66 | 172.48 | 16.71 | 12.18 | 3.56 | 2.85 | 2.4 | 0.44 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 21.82 | 15.89 | 8.38 | 36.74 | 32.59 | 25.27 | 17.79 | 19.85 | 24.16 | 61.90 | 14.85 | 7.46 | 13.17 |
Expenses | 15.77 | 10.63 | 7.88 | 29.34 | 24.31 | 20.43 | 18.30 | 20.43 | 19.50 | 43.57 | 14.91 | 1.29 | 6.88 |
Operating Profit | 6.05 | 5.26 | 0.50 | 7.40 | 8.28 | 4.84 | -0.51 | -0.58 | 4.66 | 18.33 | -0.06 | 6.17 | 6.29 |
Other Income | 1.54 | 1.63 | 1.78 | 1.74 | 1.59 | 1.44 | 1.44 | 1.00 | 0.59 | 0.09 | 1.28 | 0.48 | 0.54 |
Profit before tax | 7.00 | 4.61 | -1.55 | 8.56 | 9.40 | 5.87 | 0.59 | 0.08 | 5.01 | 18.11 | -3.31 | 0.07 | 0.54 |
Tax % | 13.71% | -51.19% | -1.29% | 11.33% | -0.11% | -0.51% | 94.92% | 50.00% | 13.17% | 21.87% | -128.40% | 14.29% | 37.04% |
Net Profit | 6.05 | 6.97 | -1.52 | 7.58 | 9.41 | 5.90 | 0.03 | 0.04 | 4.35 | 14.15 | 0.94 | 0.06 | 0.34 |
EPS in Rs | 1.47 | 1.69 | -0.37 | 1.84 | 2.29 | 1.43 | 0.01 | 0.01 | 1.06 | 3.44 | 0.23 | 0.01 | 0.08 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 48 | 59 | 83 | 129 | 105 | 68 | 59 | 105 | 151 | 75 | 112 | 121 | 97 |
Expenses | 44 | 46 | 58 | 83 | 84 | 56 | 54 | 93 | 106 | 55 | 92 | 98 | 67 |
Operating Profit | 4 | 13 | 25 | 46 | 21 | 12 | 5 | 12 | 45 | 19 | 20 | 22 | 31 |
Other Income | 8 | 6 | 4 | 2 | 2 | 3 | 2 | 2 | 3 | 6 | 6 | 3 | 2 |
Interest | 8 | 4 | 4 | 8 | 6 | 12 | 8 | 10 | 2 | 7 | 1 | 5 | 17 |
Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 1 |
Profit before tax | 4 | 14 | 25 | 40 | 16 | 2 | -1 | 4 | 46 | 18 | 24 | 20 | 15 |
Net Profit | 3 | 10 | 17 | 27 | 10 | 2 | -1 | 4 | 40 | 18 | 23 | 19 | 15 |
EPS in Rs | 0.68 | 2.36 | 4.16 | 6.47 | 2.51 | 0.59 | -0.34 | 0.95 | 9.72 | 4.49 | 5.57 | 4.73 | 3.76 |
Dividend Payout % | 37% | 13% | 22% | 15% | 20% | 85% | 0% | 0% | 0% | 11% | 22% | 32% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 43 |
Reserves | 25 | 33 | 51 | 77 | 79 | 73 | 71 | 77 | 117 | 135 | 167 | 185 | 210 |
Borrowings | 41 | 37 | 62 | 78 | 80 | 83 | 96 | 19 | 7 | 98 | 212 | 322 | 384 |
Other Liabilities | 65 | 86 | 100 | 82 | 88 | 61 | 77 | 89 | 94 | 93 | 75 | 149 | 188 |
Total Liabilities | 172 | 197 | 254 | 278 | 288 | 258 | 285 | 226 | 259 | 367 | 495 | 697 | 825 |
Fixed Assets | 3 | 2 | 3 | 5 | 4 | 3 | 5 | 5 | 5 | 4 | 4 | 45 | 46 |
Gross Block | 3.71 | 3.74 | 5.11 | 5.71 | 5.10 | 4.68 | 7.85 | 8.17 | 8.54 | 8.61 | 8.94 | 49.81 | – |
Accumulated Depreciation | 1.14 | 1.67 | 2.43 | 0.55 | 1.14 | 1.84 | 2.63 | 3.37 | 3.76 | 4.15 | 4.55 | 5.06 | – |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 12 |
Investments | 1 | 1 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 5 |
Other Assets | 168 | 194 | 246 | 272 | 283 | 255 | 279 | 221 | 254 | 363 | 491 | 644 | 762 |
Total Assets | 172 | 197 | 254 | 278 | 288 | 258 | 285 | 226 | 259 | 367 | 495 | 697 | 825 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 31 | -1 | 1 | -6 | 9 | 9 | -5 | 86 | 8 | -88 | -126 | -131 |
Cash from Investing Activity | 7 | 6 | 4 | 2 | 1 | 2 | 0 | 2 | 2 | 6 | 6 | -21 |
Cash from Financing Activity | -34 | -9 | -5 | 4 | -9 | -11 | 5 | -87 | -14 | 84 | 122 | 153 |
Net Cash Flow | 3 | -4 | -1 | -0 | 1 | 0 | 1 | 1 | -3 | 2 | 1 | 1 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 14 | 23 | 33 | 74 | 154 | 92 | 105 | 48 | 55 | 92 | 62 | 138 |
Inventory Days | 2,822 | – | 1,232 | – | 7,416 | 10,129 | 6,954 | 2,242 | 1,492 | – | – | – |
Days Payable | 223 | – | 74 | – | 789 | 941 | 1,094 | 413 | 449 | – | – | – |
Cash Conversion Cycle | 2,614 | 23 | 1,191 | 74 | 6,780 | 9,280 | 5,964 | 1,877 | 1,098 | 92 | 62 | 138 |
Working Capital Days | 573 | 383 | 532 | 433 | 580 | 740 | 940 | 432 | 290 | 1,051 | 1,050 | 1,443 |
ROCE % | 10% | 17% | 22% | 27% | 11% | 7% | 3% | 8% | 32% | 12% | 7% | 5% |
Direct from BSE filings, auto-summarised
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Stock Analysis
Arihant Superstructures Limited, incorporated in 1994, is a real estate developer focused on the MMR region, engaged in affordable, mid-income, and premium housing segments, along with developing villas and a hotel.
The company operates in the affordable and mid-income housing sector in the MMR region and has expanded into premium luxury real estate. It has expertise in land acquisition, project execution, and utilizes joint ventures and development management arrangements to maintain an asset-light model, with approximately 19% of its ongoing development area following this model.
The company has ongoing development projects with approximately 19% of the area managed under an asset-light model.
Based on historical data, the company exhibits a low interest coverage ratio. Promoter holding has seen a decrease over the past three years, and its return on equity has been notably low over the last three years.
Corporate Announcements
