Arkade Developers gains after Q1 PAT spurts to Rs 30 crore

Arkade Developers rallied 3.96% to Rs 165.45 after the company's consolidated net profit zoomed 359.47% to Rs 30.22 crore in Q1 FY25 as against Rs 6.58 crore posted in Q1 FY24.

Revenue from operations surged by 102.98% year on year to Rs 125.38 crore in the quarter ended 30 June 2024.

Total income from operations advance 102.4% to Rs 125.51 crore in Q1 FY25 as compared with Rs 62.01 crore posted in Q1 FY24.

Profit before tax (PBT) stood at Rs 40.88 crore in the quarter ended 30 June 2024, up 333.51% as against Rs 9.42 crore recorded in Q1 FY24.

Total expenses increased 62.02% to Rs 84.76 crore in Q1 FY25 as compared with Rs 52.32 crore in Q1 FY24. Cost of construction stood at Rs 184.98 crore (up 296.87% YoY), employee benefit expenses were at Rs 5.09 crore (up 58.07% YoY) during the period under review.

EBITDA stood at Rs 42.08 crore in Q1 FY25, registering a growth of 319.54% YoY.

Amit Jain, chairman and managing director, Arkade Developers, said, India's robust economy and proactive policies have positioned itself as a global leader. The Indian real estate market, particularly the luxury housing segment, has witnessed strong demand driven by urbanization and rising incomes.

We are pleased to announce successful results for the quarter. We successfully launched Arkade Views & Vistas and have given possessions of over 380 homes to satisfied customers at Arkade Aspire and Arkade Crown in the last quarter. We are also preparing to launch Arkade Rare in Bhandup West and are expanding presence through strategic land acquisitions in MMR. Our promise to sustainable growth and creating value for all stakeholders remains constant.

Arkade Developers is a real estate development company concentrating on the development of premium aspirational lifestyle residential premises in Mumbai, Maharashtra, Indias commercial capital. The company is engaged in the development of new projects (development / construction of residential premises on land acquired by the company) and redevelopment of existing premises.

The firm reported a consolidated net profit of Rs 122.84 crore and sales of Rs 634.74 crore for the twelve months ended on 31 March 2024.

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