Mumbai, Nov 3 : Realty developer Arvind Smartspaces Limited on Monday reported a sharp 65 per cent drop in its net profit to Rs 14 crore for the quarter ended September 30 (Q2 FY26) compared with Rs 41 crore in the same quarter last fiscal (Q2 FY25).

The company's revenue also fell 47 per cent year-on-year (YoY) to Rs 140.5 crore from Rs 265.5 crore a year ago, according to its stock exchange filing.

Its EBITDA declined 56 per cent to Rs 29.2 crore from Rs 66.4 crore in Q2 FY25, with margins narrowing to 20.7 per cent from 25 per cent a year earlier.

During the first half of FY26, Arvind Smartspaces recorded bookings worth Rs 607 crore, slightly lower than Rs 666 crore in the same period last financial year.

Collections for the half-year stood at Rs 427 crore, compared with Rs 497 crore in H1 FY25.

Revenue from operations came in at Rs 242 crore, down from Rs 340 crore a year ago, while adjusted EBITDA stood at Rs 55.5 crore versus Rs 91 crore previously.

The company's profit after tax (PAT) for the first half was Rs 30 crore, lower than Rs 47 crore last financial year.

On a sequential basis, the company's performance improved in Q2 FY26. Quarterly bookings rose 147 per cent quarter-on-quarter to Rs 432 crore, driven mainly by the successful launch of Arvind Everland at Mankol, Sanand.

The project recorded strong sales of 954 units, generating Rs 400 crore in bookings -- nearly 82 per cent of the launched inventory.

Collections during the quarter improved 23 per cent sequentially to Rs 236 crore, though they remained slightly lower than Rs 263 crore recorded a year earlier.

Revenue from operations grew 38 per cent quarter-on-quarter to Rs 140 crore, but was still down from Rs 266 crore in Q2 FY25.

Adjusted EBITDA increased 27 per cent sequentially to Rs 31 crore, while PAT rose 51 percent quarter-on-quarter to Rs 18 crore.

/IANS