Shares of this multibagger real estate stock jumped approximately 3 percent in Monday’s trading session after “ICICI Prudential Equity Fund” bought 4.65 lakh equity shares via Bulk Deal on 23rd February 2024.
With a market capitalization of Rs 2,722.57 crores, the stocks of Arvind SmartSpaces Limited started their trading session on Monday at Rs 603.85 and currently trade at Rs 600.85, gaining nearly 3 percent as compared to the previous close of Rs 582.90 apiece.
Such bullish behaviour in the company’s stock price is witnessed after ICICI Prudential Equity Opportunities Fund, one of the well-known entities based in India, on 23rd February 2024, bought 4.65 lakh equity shares of the company via Bulk Deal. The deal was executed at an average trade price of Rs 582 per equity share.
On the other side, ‘Kausalya Realserve LLP’, one of the corporate bodies holding the company’s shares, sold 7 lakh equity shares of the real estate company at an average trade price of Rs 582.02 per equity share. As per the shareholding pattern data for the December 2023 quarter, the entity holds 28.50 lakh equity shares equivalent to a 6.29 percent stake in the company.
Keeping a purview of one year, the company’s stock delivered multibagger returns of around 143 percent to its shareholders, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.43 lakhs.
During the recent financial quarters, the company’s basic business indicators, i.e., operating revenues as well as after-tax profits, were on the rise with the former rising from Rs 72 crores during Q2FY24 to Rs 84 crores during Q3FY24 and the latter, keeping the timeframe the same, took an upward shift from Rs 10 crores to Rs 11 crores.
During the recent presentations, the company reported the highest ever bookings amount during FY23 worth Rs 802 crores, a 33 percent growth compared to Rs 601 crores of bookings the previous year. In FY24, the company, till December 2023, has recorded bookings of Rs 784 crores.
Arvind SmartSpaces Limited is a real estate development company engaged in the business of developing commercial, residential, and industrial projects. Conducting its operations solely from India, the company generates a majority of revenue from the sale of commercial and residential units.
Written by Amit Madnani
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