Arvind SmartSpaces Limited

Kamal Singal

Managing Director & CEO

Avinash Suresh

Chief Operating Officer

Ankit Jain

Chief Financial Officer

Prakash Makwana

Company Secretary

Vikram Rajput

Head of Investor Relations

8%

inancial ‘23. This was our best-ever Q1 from a bookings perspective. Bookings for the quarter grew 8% year-on-year to INR 118 crore in Q1 ’23. Collection improved by 12% year-on-year at INR 133 crore,

INR 118 crore

was our best-ever Q1 from a bookings perspective. Bookings for the quarter grew 8% year-on-year to INR 118 crore in Q1 ’23. Collection improved by 12% year-on-year at INR 133 crore, reflecting our continued foc

12%

. Bookings for the quarter grew 8% year-on-year to INR 118 crore in Q1 ’23. Collection improved by 12% year-on-year at INR 133 crore, reflecting our continued focus on execution. We have taken measured

INR 133 crore

uarter grew 8% year-on-year to INR 118 crore in Q1 ’23. Collection improved by 12% year-on-year at INR 133 crore, reflecting our continued focus on execution. We have taken measured price increases across proje

2 million

a 44-acres plotting development in Bavlu Village in the outskirts of Gandhinagar with approximate 2 million square feet of saleable area with the top line of INR 150 crore. This will be an outright purchase

INR 150 crore

skirts of Gandhinagar with approximate 2 million square feet of saleable area with the top line of INR 150 crore. This will be an outright purchase of land deal, and it should be somewhere by the end of next qua

INR 60 crore

months. Moving from operational update to the financial highlights. In Q1, we reported revenues INR 60 crore, up 124% on a year-on-year basis. EBITDA for the quarter grew by 31% to INR 11 crore, PAT for the

124%

from operational update to the financial highlights. In Q1, we reported revenues INR 60 crore, up 124% on a year-on-year basis. EBITDA for the quarter grew by 31% to INR 11 crore, PAT for the quarter g

31%

e reported revenues INR 60 crore, up 124% on a year-on-year basis. EBITDA for the quarter grew by 31% to INR 11 crore, PAT for the quarter grew 190% to INR 7.2 crore. Our balance position remains stro

INR 11 crore

ted revenues INR 60 crore, up 124% on a year-on-year basis. EBITDA for the quarter grew by 31% to INR 11 crore, PAT for the quarter grew 190% to INR 7.2 crore. Our balance position remains strong. As on June 3

190%

a year-on-year basis. EBITDA for the quarter grew by 31% to INR 11 crore, PAT for the quarter grew 190% to INR 7.2 crore. Our balance position remains strong. As on June 30, 2022, our net debt remains

INR 7.2 crore

n-year basis. EBITDA for the quarter grew by 31% to INR 11 crore, PAT for the quarter grew 190% to INR 7.2 crore. Our balance position remains strong. As on June 30, 2022, our net debt remains negative at INR 9

“We're happy to announce that we have added a new project in our portfolio.”

“This is our 14th project in Gujarat, a 44-acres plotting development in Bavlu Village in the outskirts of Gandhinagar with approximate 2 million square feet of saleable area with the top line of INR 150 crore.”

“This will be an outright purchase of land deal, and it should be somewhere by the end of next quarter.”

“While we are on the subject of business development, I would like to apprise everyone that we have exited the Bhugaon Project in Pune during the diligence process, due to technical feasibility challenges.”

“As a group and a company, we place high importance to transparency, hence we had discussed this project earlier, and we had told about this project to everybody.”

“However, due to technical reasons and approval issues, so we have decided to exit this project.”

“To mitigate this, we have already taken some effective steps to fulfil the project pipeline gap created by this exit.”

“The company is the project pipeline across Bengaluru, rigorously working on extending Ahmedabad, and Pune, of course, including MMR in the future months.”

“And this triples our capital investment abilities in short-term to medium-term, and in turn, create significant value for the shareholders.”

“The fund will be utilized to acquire new projects for residential development in the cities of Ahmedabad, Q1 FY23 Earnings Conference Call August 12, 2022 Bangalore, Pune and MMR.”

Kamal Singal

15

Moderator

8

Rithvik Sheth

4

Ankit Jain

4

Kirthi Jain

4

Aditya Mehta

1

Kamal Singal

Please note that a copy of disclosure is available on the Investors section of the website of Arvind SmartSpaces Limited as well as on stock exchanges. Please do note that anything said on this call, which reflects the outlook towards the future which could be construed as a forward-looking statement must be reviewed in conjunction with the risk that the company faces. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing ‘*’ then ‘0’ on your touchtone phone. Please note that this conference is being recorded. With that, I would like to hand the floor over to Mr. Kamal Singal for his opening remarks. Thank you, and over to you, sir. Thank you. Good evening. A very warm welcome to everyone present on this call. Thank you for joining us today to discuss the operating and financial performan

Kamal Singal

Q1 FY23 Earnings Conference Call August 12, 2022 CLU post our agreements etc. So that's the major part when it comes to overall timelines of a project launch. Now the final touches are being given to the plans, the architectural aspects of it, and subsequent to that, maybe this project should be getting launched, , after Devanahalli, given maybe a month, month and a half behind Devanahalli.

Rithvik Sheth

Sir, a few questions from my end. Firstly, on this fund with HDFC, so our economic interest will be 33%, is that understanding, right?

Kamal Singal

See, this is obviously our third engagement or our partnership with HDFC Caps. The first was under the H-CARE 1 fund, through that fund we invested in this Devanahalli project. This is essentially that platform project that we just talked about. The second engagement, because by the time we could invest more, COVID struck and the funding actually kind of took a halt, but still the fund invested at the entity level in that case and we got INR 50-odd-crore invested by the fund at the entity level itself, they picked up into the company. And this is now the third arrangement that we are talking about which is of a very, very significant size and larger size than the previous ones. So the partnership goes from X to Y, which is significantly higher. Because the terms are yet to be signed and this should happen in next few days, we shall be in a position to share more details about that once that process is completed. Today, the Board has approved the broad contours of this potential partner

Rithvik Sheth

So the thought process is, put in equity of about INR 900 crore and then leverage that to some extent and acquire projects which standalone balance sheet on the size which we could not do. So this will help us to increase the size of the projects as well, right? Kamal Singal: Absolutely. So, as you would've read through the communication that we have made, this is going to be a INR 900 crore platform. We are creating an SPV for this specific purpose, all the projects which we take where we co-invest, will be housed under that new SPV, and of course, this gives us, not only the dry powder required to take more projects, but as you very rightly said, this also gives us more strength to take up bigger, more value creating projects at a location, which until today we have been restricting ourselves to certain extent. Definitely even that aspect gets debottlenecked and we have more opportunities to find more valuable lands in that context. Rithvik Sheth: Right. And sir since Arvind SmartSpa

Kamal Singal

So, this is simultaneous; infusions will happen simultaneously. For example, suppose we acquired a project which is worth INR 100 crore. Then obviously one- third of that INR 33 crore from us and INR 67 crore from them will come simultaneously at the time of acquiring that project. So it basically is simultaneous to when that acquisition happens and both partners in their own ratio, 2:1 will invest and we have, of course in the INR 300 crore, it's something that is already there in the sense of availability, etc.