Arkade Developers Limited amongst the leading real estate development companies in Mumbai, reported revenue growth of 20.4% year-on-year at INR 328.85 CR for the first half year ended September 30, 2024. Net profit for the first half rose 35.2% to INR 73.58 CR; while Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) jumped 36.9% to INR 102.49 CR.
For the second quarter, the Company reported revenue of INR 203.34 CR. Net Profit and EBITDA for the quarter stood at INR 43.36 CR and ~ 60.41 CR. The strong revenue growth for the first half came from robust trajectory of pre-sales achieved over last few quarters, the revenue recognition of which was done in H1FY25.
Commenting on the Q2 & Hl FY25 results, Amit Jain, Chairman and Managing Director, Arkade Developers Limited said, "Building on our impressive Q1 performance, we're delighted to announce another quarter of outstanding operational and financial results, fuelled by revenue from last year's pre-sales. Capitalizing on the surging demand for luxury housing in Mumbai Metropolitan Region (MMR), we're poised for sustained growth, generating long-term value for all stakeholders. Our recent launch of Arkade Rare at Bhandup was well received and this single-phase development is at a rapid construction progress. Looking ahead, we've lined up strategic launches for the next two quarters to maintain momentum. Our expansion into Eastern Mumbai suburbs and robust pipeline of redevelopment projects will drive growth, backed by our solid balance sheet and healthy cash flows"
