Arihant Superstructures clocks 95% jump in net profit at Rs 13.4 cr for Q4FY21
New Delhi: Mumbai-based Arihant Superstructures Ltd (ASL) has registered 95 percent jump in its net profit for the fourth quarter of last fiscal at Rs 13.48 crore.
ASL’s total income jumped 98 percent at Rs 124 crore for the fourth quarter of last fiscal.
For the whole of last fiscal, the net profit of the company jumped 43 percent at Rs 16 crore. The total income of the company increased 14 percent at Rs 272 crore, ASL said in a regulatory filing.
“The beginning of the financial year was fraught with fear as the first wave of Covid-19 pandemic spread but thankfully we ended the year with a lot of confidence. We were well-prepared for a strong revival in the affordable housing segment with ready-to-move-in inventory as well as projects in various stages of construction across micro markets in Mumbai MMR and Jodhpur. This helped us in catering to varied customer requirements and we are glad to announce that Q4FY21 was the best for Arihant Superstructures till date with highest revenues and net profits,” said Ashok Chhajer, CMD, Arihant Superstructures Ltd.
The company sold as many as 1,097 apartments in the last fiscal which was due to strong demand conversion seen in the last quarter of the financial year.