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. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Pre-Sales Show Slight Growth: In Q4FY25, our coverage universe reported pre-sales of Rs 36,092 Cr, which remained flattish YoY.</li><li>This performance was primarily impacted by delayed launches and the ongoing election cycle, which subdued the usual surge in bookings.</li><li>While some companies outperformed their annual guidance, such as SignatureGlobal and Man Infraconstruction, others, including Oberoi, Prestige, and Arvind SmartSpaces, fell short of their booking expectations. </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.

Pre-Sales Show Slight Growth: In Q4FY25, our coverage universe reported pre-sales of Rs 36,092 Cr, which remained flattish YoY.This performance was primarily impacted by delayed launches and the ongoing election cycle, which subdued the usual surge in bookings.While some companies outperformed their annual guidance, such as SignatureGlobal and Man Infraconstruction, others, including Oberoi, Prestige, and Arvind SmartSpaces, fell short of their booking expectations. 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.

Top Conviction Ideas - “Real Estate” - Stable Presales; Launch Spillovers Set Stage for FY26E Growth

<ul><li>Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.</li><li>Notably, our benchmark index, the Nifty 50, reached the historic milestone of 26,216 on September 26, 2024, for the first time ever.</li><li>This achievement has propelled the Indian market capitalization to surpass the $5 Trillion mark, positioning it as the fourth largest market globally. </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.

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.Notably, our benchmark index, the Nifty 50, reached the historic milestone of 26,216 on September 26, 2024, for the first time ever.This achievement has propelled the Indian market capitalization to surpass the $5 Trillion mark, positioning it as the fourth largest market globally. 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.

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

India

Arvind SmartSpaces Ltd. is the real estate development arm of the Lalbhai Group, specializing in residential, commercial, industrial, and hospitality developments. The company focuses on design-led horizontal (plotted developments and villas) and vertical (apartments) projects across key markets. It was incorporated in 2008 and is headquartered in Ahmedabad, Gujarat, India.

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Arvind SmartSpaces (ARVSMART IN)

Top Conviction Ideas - “Real Estate” - Stable Presales; Launch Spillovers Set Stage for FY26E Growth

Pre-Sales Show Slight Growth: In Q4FY25, our coverage universe reported pre-sales of Rs 36,092 Cr, which remained flattish YoY.

Axis Direct

Diamonds In The Dust - Samvat 2081

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.

Axis Direct

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

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