Arihant Superstructures Limited (ARIHANTSUP) share price
₹229.50 on NSE as of 2026-09-04. -2.82% on the day. market cap ₹993 Cr. P/E 34.2. 52-week range ₹192.70 to ₹432.10. Realty.
Arihant Superstructures Q1 FY27: Revenue ₹131.6 Cr, 1,495 Units Get Their Occupancy Certificates, and a 99-Acre Villa Township
At a glance
Operating revenue for the June 2026 quarter came in at ₹131.59 crore, against ₹120.96 crore a year earlier. Operating profit was ₹27.55 crore versus ₹36.90 crore, and PAT was ₹9.78 crore against ₹15.91 crore. Interest for the quarter was ₹15.54 crore — a line item that, at more than half of operating profit, has clearly decided it deserves top billing in the P&L credits.
Away from the accounts, the quarter was busy in the way real estate quarters are busy: paperwork. Occupancy Certificates arrived for four projects — 5 Anaika, 6 Anaika, Anant, and Aaradhya Phase 1 — covering 1,495 units, per the company's press release. Pre-sales rose 15% year-on-year to ₹173 crore, on 221 units and 2.31 lakh sq ft. Collections were ₹161.2 crore.
The company also signed up two more acres at Town Villas on an area-sharing JV basis, taking that township to 99 acres. Buying land one hectare at a time is the developer equivalent of adding "just one more" to a plate at a buffet, except the plate is in Chowk and it now covers roughly 75 football pitches.
Consolidated FY26 closed with revenue of ₹550.97 crore and PAT of ₹46.04 crore. The gross development value the company reports across its pipeline is ₹14,000 crore, against ₹6,000 crore five years earlier. Market cap is ₹1,074 crore.
Introduction
Arihant Superstructures was incorporated in 1994 and builds houses in the Mumbai Metropolitan Region and Jodhpur. That single sentence has been true for three decades; everything else about the company has been rearranged around it several times.
The company's own journey slide reads like a founder's diary that someone eventually laminated. 1999: identified Navi Mumbai as the next area of growth, with 30 projects planned over 15 years. 2004: completed ten projects. 2011: crossed ₹1 billion in revenue. 2016: an award for Best Corporate Brand. 2021: forayed into sports and hospitality. 2024: launched the first villa project. 2026: certified as a Great Place to Work — which, for a company whose management spent the same year telling analysts that skilled labour is the industry's binding constraint, is the sort of certificate you frame near the entrance.
Per the Acuité rating press release of February 2026, the company is Navi Mumbai–based, listed on the NSE since March 2017, and works across affordable housing in Navi Mumbai, MMR and Jodhpur. Acuité reaffirmed a long-term rating of ACUITE BBB- with a Stable outlook on ₹300 crore of bank facilities. The agency's rationale cites project risk in the ongoing World Villas project alongside steady customer inflows and tied-up funding, and notes the group's established experience, favourable project locations and financial flexibility; it lists as constraints the risks of the group's other ongoing projects and the cyclical, regulatory nature of the sector.
The board met on August 7, 2026, approved the unaudited Q1 results, and fixed the 43rd AGM for September 24, 2026 at a ballroom in Vashi. The record date for dividend payment was set at September 11, 2026. Earlier, on May 15, 2026, the board approved the FY26 audited results, a ₹0.25 dividend, and the appointment of Parth Chhajer and Bhavik Chhajer as Joint Managing Directors.
The statutory audit chair has changed hands: Ummed Jain & Co. resigned on November 5, 2025, effective November 13, and the Q1 FY27 review reports carry the name of K J K & Associates.
Business model
They buy land cheaply, build flats on it, and sell those flats to people who work in Navi Mumbai. The strategy has a name — "Mirroring the Population Matrix" — which is a genuinely impressive way of saying "we sell to everyone." Affordable is below ₹50 lakh a ticket at under ₹5,000/sq ft, mid-income is ₹50 lakh to ₹1.5 crore at ₹5,000–10,000, and luxury is above ₹1.5 crore at ₹10,000-plus. The current project mix by saleable area is 41% luxury, 29% mid-income, 30% affordable.
The company reports 19 ongoing projects across 12 micro-markets, 21 million sq ft under development, 14,200+ units delivered across 67 projects, and 12.7 million sq ft developed in MMR and Jodhpur. Land acquisition cost is stated at under ₹500 per sq ft, described as the lowest in the industry — a number that explains why the land bank keeps growing while the equity base doesn't move much. Roughly 15% of ongoing development runs on an asset-light model via JVs, joint development and development management.
The names all start with A. Aspire, Aalishan, Advika, Amisha, Aloki, Adita, Arshiya, Aayan, Aaradhya, Avanti, Adarsh, Anaika, Anchal, Anant. Somewhere in Turbhe there is a person whose job is to think of new A-words, and they have been doing it since 1994 without visible fatigue.
Then there is World Villas: 391 platinum-series villas on a 90-acre parcel at Chowk, roughly ~1 million sq ft, with a GDV of ₹12 billion, sitting 30 minutes from the Navi Mumbai International Airport. Bolted onto it is a 221-key hotel on 10 acres and a gymkhana on 10.5 acres. Total outlay for the residential-plus-gymkhana-plus-hotel complex is stated at ₹3.5 billion with a target IRR of 15%. A second hotel, 108 keys and four-star, is planned at Khopoli.
So the model, as of this quarter, is: sell flats, collect cash under percentage-completion accounting, and simultaneously build a hotel and a sports club whose revenue arrives as membership fees, room nights and food and beverage. Real estate developers have discovered that annuity income is the one form of money that shows up without anyone signing a sale deed, and they have all discovered it at roughly the same time.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Arihant Superstructures Limited.
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