Arvind SmartSpaces clocks net profit of Rs 2.49 cr for Q1FY22
Noida: Arvind SmartSpaces clocked a consolidated net profit of Rs 2.49 crore for the first quarter of the current fiscal as compared to a loss of Rs 4.83 crore in the corresponding quarter last year.
The consolidated net income of the company jumped many-fold at Rs 28 crore in the first quarter of the ongoing fiscal as against Rs 10.77 crore in the similar quarter of the previous fiscal, the company said in a statement.
Kamal Singal, MD & CEO of the company said, "With the optimistic business outlook along with strong cash flows, the company is aggressively looking to acquire new projects in the near term to further strengthen inventory pipeline and continue its sales momentum. The company has ten ongoing projects totaling more than 14.9 million sq ft under various stages of development which would be completed over the next 3-5 years."