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Arkade Developers reported a 9.38% decline in net consolidated profit for Q2 FY25, with a profit after tax of Rs 43.36 crore, compared to Rs 47.85 crore in the same quarter last year. The company's net income also fell by 3.66%, amounting to Rs 203.33 crore. Despite this, Chairman & Managing Director Amit Mangilal Jain outlined strategic launches and the company's expansion into eastern Mumbai suburbs to maintain growth. The board approved the appointment of Sumesh Mishra as an additional director, while pre-sales and collections stood at Rs 215 crore and Rs 180 crore, respectively.
Arkade Developers has reported a decline of 9.38 per cent in its net consolidated profit for the quarter that ended on September 30, 2024. In the second quarter of the fiscal year 2025 (Q2 FY25), the company's profit after tax was Rs 43.36 crore, a reduction from Rs 47.85 crore in the same quarter of the previous fiscal year. This was revealed in a filing with the Bombay Stock Exchange (BSE). Additionally, the company's net consolidated total income for Q2 FY25 was recorded at Rs 203.33 crore, reflecting a decrease of 3.66 per cent when compared to Rs 211.06 crore during the same quarter in the previous year. Advertisement
Amit Mangilal Jain, the promoter and Chairman & Managing Director (CMD) of Arkade Developers, stated that the company had planned strategic launches over the next two quarters aimed at maintaining its growth momentum. He noted that these initiatives would be part of a broader expansion strategy that includes extending their presence into the eastern suburbs of Mumbai.
Furthermore, Jain expressed confidence in the company's growth prospects, emphasising that the robust pipeline of redevelopment projects in the region would contribute significantly to the company's development. The company's ability to maintain solid financial health, backed by a strong balance sheet and healthy cash flows, would play a key role in supporting these growth efforts.
In addition, the company's board of directors has approved the appointment of Sumesh Mishra as an additional director, a move that is expected to further strengthen the leadership and governance structure of the company. In terms of sales performance, the company reported pre-sales amounting to Rs 215 crore in Q2 FY25, with collections reaching Rs 180 crore. This indicates a relatively strong sales pipeline, which could help mitigate the impact of the decline in profit and total income.
Although Arkade Developers experienced a decline in profit and income in Q2 FY25, the company is optimistic about future growth, with strategic plans in place to drive expansion. The focus on redevelopments and new projects in eastern Mumbai, coupled with healthy financials, positions the company well for continued growth. The recent leadership appointment and strong sales figures further reinforce confidence in the company's ability to weather the downturn and continue progressing in the competitive real estate market.
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