**Business Performance:** Arvind SmartSpaces reported a stellar Q1 FY27. Bookings soared 147% YoY to ₹432 Cr, driven by strong contributions from Gujarat and Bengaluru, particularly the Aquacity project.

Collections jumped 76% YoY to ₹336 Cr.

Revenue reached ₹318 Cr, significantly up from ₹101.8 Cr last year.

Profit after Tax (PAT) climbed to ₹97 Cr from ₹12 Cr, with the Adjusted EBITDA margin improving to 48%. **Growth Drivers or Strategy:** The company continues its asset-light residential development model, focusing on key geographies like Gujarat, Bengaluru, and MMR.

Its strategic partnership with HDFC Capital Advisors remains a core strength, supporting its expansion. **Recent Developments:** Q1 saw new business development potential of ~₹2,580 Cr, including a significant high-rise project in Goregaon, Mumbai (~₹2,400 Cr), and a residential project in South Ahmedabad (~₹180 Cr). The company's long-term credit rating was upgraded to AA-/Stable, reflecting improved financial health. **Key Financial Metrics:** Net Debt to Equity stands at a comfortable 0.29x. Unrecognized revenue stands strong at ₹3,825 Cr, indicating future revenue visibility.

Operational cash flow (OCF) surged 300% YoY to ₹81 Cr. **Management Commentary / Outlook:** The robust project pipeline and strong operational cash flow suggest continued solid performance and growth opportunities, positioning the company to scale.