Arihant Superstructures - Developing A Growth Story: Axis Securities

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Axis Securities Report

Arihant Superstructures Ltd. is on a growth trajectory with an upcoming launch order book of 1.1 million square feet in FY25. Management has projected a launch increase of 10%-20% YoY and expects revenue growth of 25% in the coming years.

Average realisations saw a 7% increase in FY24, and further appreciation of around 10% in these micro markets is anticipated. Major launches are expected in H2 FY25 for projects such as ‘World Villas,' ‘Arihant Avanti,' ‘Arihant Anaika,' and ‘Arihant Adarsh.'

The company may incur additional debt to accelerate growth. It expects collections of Rs 700 crore for FY25 and plans a land capex of about 300 acres.

The company also anticipates becoming cash flow positive by FY26.

Valuation: Currently, the stock is trading at a 20.6 times enterprise value /Ebitda.

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