External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>Strong Bookings Guidance: The company has clocked pre-sales of Rs 175 Cr, which is in line with expectations but lower than its guidance, mainly due to the launch of its Bannerghatta project, which has been delayed over multiple quarters.</li><li>Despite this slow quarter, the company is positive about achieving its 30% bookings growth guidance for FY26. Arvind believes the spill-over launches will take place in the H2FY26.</li><li>Traditionally, its pre-sales have grown at a robust 25%+ YoY, except for the previous year, and hopes to continue this trajectory for the next several years. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Strong Bookings Guidance: The company has clocked pre-sales of Rs 175 Cr, which is in line with expectations but lower than its guidance, mainly due to the launch of its Bannerghatta project, which has been delayed over multiple quarters.Despite this slow quarter, the company is positive about achieving its 30% bookings growth guidance for FY26. Arvind believes the spill-over launches will take place in the H2FY26.Traditionally, its pre-sales have grown at a robust 25%+ YoY, except for the previous year, and hopes to continue this trajectory for the next several years. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Arvind SmartSpaces Ltd - Soft Bookings; Growth Hinges on Upcoming Launches

<ul><li>Business Development: The company has clocked pre-sales of Rs 1,271 Cr, missing its guidance of 30% growth.</li><li>This shortfall was primarily due to the company's inability to launch all the projects planned for the year, including the Bannerghatta and Surat projects. However, it continues to believe that these launch spill-overs will occur in FY26.</li><li>For FY26, Arvind has guided for ~Rs 4,000 Cr of launches, comprising Rs 2,000 Cr from Bangalore, Rs 1,000 Cr from Gujarat, and the rest ~Rs 1,000 Cr from the MMR regions.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Business Development: The company has clocked pre-sales of Rs 1,271 Cr, missing its guidance of 30% growth.This shortfall was primarily due to the company's inability to launch all the projects planned for the year, including the Bannerghatta and Surat projects. However, it continues to believe that these launch spill-overs will occur in FY26.For FY26, Arvind has guided for ~Rs 4,000 Cr of launches, comprising Rs 2,000 Cr from Bangalore, Rs 1,000 Cr from Gujarat, and the rest ~Rs 1,000 Cr from the MMR regions.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Arvind SmartSpaces Ltd - Miss on Bookings, Launches to Drive Growth; Maintain BUY

<ul><li>New Launches and Business Development: The management has guided a pre-sales CAGR of 30%-35%, maintaining confidence in achieving this target.</li><li>In Q2FY25, the company launched ‘Arvind Aqua City,’ with total bookings at Rs 500 Cr for the quarter, bringing cumulative bookings to approximately Rs 600 Cr, including Rs 93 Cr from Q1FY25.</li><li>Projects valued at Rs 4,000-5,000 Cr are expected to be added during the fiscal year, with the majority of launches concentrated in H2FY25 following Aqua City (~Rs 1,000 Cr). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

New Launches and Business Development: The management has guided a pre-sales CAGR of 30%-35%, maintaining confidence in achieving this target.In Q2FY25, the company launched ‘Arvind Aqua City,’ with total bookings at Rs 500 Cr for the quarter, bringing cumulative bookings to approximately Rs 600 Cr, including Rs 93 Cr from Q1FY25.Projects valued at Rs 4,000-5,000 Cr are expected to be added during the fiscal year, with the majority of launches concentrated in H2FY25 following Aqua City (~Rs 1,000 Cr). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Arvind Smartspaces Ltd - Management Guidance Maintained; Maintain BUY

<ul><li>We are initiating coverage on Arvind Smartspaces Ltd. (ARVSMART) with a BUY recommendation and a target price of Rs 1,085/share, which implies an upside of 43% from the CMP.</li><li>Arvind Smartspaces began operations in 1897 when Lalbhai Dalpatbhai established the company's first textile mill.</li><li>Over the years, the business portfolio expanded to include textiles, dyes, chemicals, real estate, and engineering ventures, which were later demerged in 2016. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We are initiating coverage on Arvind Smartspaces Ltd. (ARVSMART) with a BUY recommendation and a target price of Rs 1,085/share, which implies an upside of 43% from the CMP.Arvind Smartspaces began operations in 1897 when Lalbhai Dalpatbhai established the company's first textile mill.Over the years, the business portfolio expanded to include textiles, dyes, chemicals, real estate, and engineering ventures, which were later demerged in 2016. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Arvind Smartspaces (ARVSMART) - BUILDING A ‘SMART SPACE’

Thematic (Sector/Industry)

<ul><li>We expect companies under our coverage to show a 55% improvement QoQ in pre-sales for Q1FY26.</li><li>This is primarily due to a low base established in the previous quarter, Q4FY25.</li><li>Companies like Prestige Estates and Oberoi Realty are set to report healthy bookings for the year. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We expect companies under our coverage to show a 55% improvement QoQ in pre-sales for Q1FY26.This is primarily due to a low base established in the previous quarter, Q4FY25.Companies like Prestige Estates and Oberoi Realty are set to report healthy bookings for the year. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Arvind SmartSpaces Limited operates as a real estate company. The Company focuses on the residential and commercial property and land development. Arvind SmartSpaces conducts business in India.

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Arvind SmartSpaces (ARVSMART IN)

Arvind SmartSpaces Ltd - Soft Bookings; Growth Hinges on Upcoming Launches

The company has clocked pre-sales of Rs 175 Cr, which is in line with expectations but lower than its guidance, mainly due to the launch of its...

Axis Direct

Arvind SmartSpaces Ltd - Miss on Bookings, Launches to Drive Growth; Maintain BUY

This shortfall was primarily due to the company's inability to launch all the projects planned for the year, including the Bannerghatta and Surat...

Axis Direct

Arvind Smartspaces Ltd - Management Guidance Maintained; Maintain BUY

New Launches and Business Development: The management has guided a pre-sales CAGR of 30%-35%, maintaining confidence in achieving this target.

Axis Direct

Arvind Smartspaces (ARVSMART) - BUILDING A ‘SMART SPACE’

We are initiating coverage on Arvind Smartspaces Ltd. (ARVSMART) with a BUY recommendation and a target price of Rs 1,085/share, which implies an...

Axis Direct

Q1FY26 Earnings Preview - Real Estate

We expect companies under our coverage to show a 55% improvement QoQ in pre-sales for Q1FY26. This is primarily due to a low base established in...

Axis Direct

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