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Arvind SmartSpaces Limited (ARVSMART) Fair Value & Analysis

Real Estate · IN · Market cap ₹27.8B

AS Arvind SmartSpaces Limited ARVSMART · NSE
Price₹665.55
Fair Value₹357.46
Upside-46.3%
Quality37/100
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Mixed Growth
Solidly profitable · 17.1% net margin
Moderate debt · negative free cash flow
0.37% dividend yield
Trails peers (4/13)
Moderate moat 60/100
Evidence: Medium Range ₹268.09 – ₹447.21 Share as image

Fair value as of: Aug 2, 2026

From 9 valuation models · updated 11 days ago

Share price +8.2% over the past month.

Below-average quality, and screening another 46% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹447.21). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

₹997.22 ₹91.28 Fair Value ₹357.46 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹91.28 – ₹997.22 · fair‑value band ₹268.09 – ₹447.21 · the ₹665.55 price screens above the ₹357.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Arvind SmartSpaces Limited (ARVSMART) currently trades at ₹665.55, while our model-based Fair Value estimate is ₹357.46, implying the stock looks roughly 46.3% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Arvind SmartSpaces Limited generated revenue of ₹5.6B at a net margin of 17.1%. Revenue declined 4.7% year over year. It earns a return on equity of 12.1%. Net debt stands at ₹4.1B. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹268.09 (bear case) to ₹447.21 (bull case); at ₹665.55, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 0% fair-value upside, at -46%, ARVSMART screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹141.03 ₹187.35 ₹551.60 76
Gordon GGM ₹55.07 ₹114.50 ₹181.65 70
DDM Multi-Stage ₹55.07 ₹96.55 ₹120.17 61
All 9 models by family
Dividend Discount
Gordon GGM ₹55.07 ₹114.50 ₹181.65 70
DDM Multi-Stage ₹55.07 ₹96.55 ₹120.17 61
Multiples
P/S Multiple ₹268.09 ₹357.46 ₹446.82 58
P/B Multiple ₹212.31 ₹283.08 ₹353.84 55
EV/EBIT ₹453.75 ₹628.29 ₹802.83 53
EV/EBITDA ₹352.38 ₹493.14 ₹633.89 54
EV/Revenue ₹218.91 ₹342.68 ₹466.44 43
Asset-Based
NCAV (Graham) ₹70.77 ₹94.83 ₹141.54 50
Economic Profit
Residual Income ₹141.03 ₹187.35 ₹551.60 76

Widest divergence: Multiples (₹357.46) versus Asset-Based (₹94.83). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹5.6B
Revenue growth (YoY) -4.7%
Net margin 17.1%
Return on equity 12.1%
Free cash flow −₹2.5B FY2026
P/E ratio 28.9
More key figures
Operating margin 37.1%
EPS (TTM) ₹20.95
Dividend yield 0.4%
EPS growth (YoY) +131%
Net debt ₹4.1B FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 33 · Market factors (momentum, volatility) 64

Profitability 35
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 36
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Arvind SmartSpaces Limited, together with its subsidiaries, engages in the development of real estate projects in India. The company develops residential, commercial, industrial, and hospitality projects, including villa townships, apartment complexes, plotted developments, commercial hubs, and industrial parks.

Full company description

Arvind SmartSpaces Limited, together with its subsidiaries, engages in the development of real estate projects in India. The company develops residential, commercial, industrial, and hospitality projects, including villa townships, apartment complexes, plotted developments, commercial hubs, and industrial parks. It serves individual retail clients and corporate entities. The company was formerly known as Arvind Infrastructure Limited and changed its name to Arvind SmartSpaces Limited in November 2016. Arvind SmartSpaces Limited was incorporated in 2008 and is headquartered in Ahmedabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Arvind SmartSpaces Limited reported revenue of ₹5.6B in FY2026 versus ₹2.6B in FY2022, a compound +21.7%/yr. Reported net income was ₹964M in FY2026, compounding +40.1%/yr from FY2022.

Growth Quality 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹5.6B
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+40.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+19.1%
Avg. growth/yr (14Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+25.5%
Revenue +21.7%/yr
FY22 ₹2.6B
FY23 ₹2.6B
FY24 ₹3.4B
FY25 ₹7.1B
FY26 ₹5.6B
Net income +40.1%/yr
FY22 ₹251M
FY23 ₹256M
FY24 ₹416M
FY25 ₹1.1B
FY26 ₹964M
Character of growth · EPS growth decomposed (2015-2026) +13.3 % p.a.
Revenue per share +11.7 pp

of which total revenue +18.1 pp · buybacks/dilution −6.4 pp

EBIT margin +4.2 pp
Tax rate +1.3 pp
Residual (interest, one-offs) −3.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

ARVSMART screens 46% overvalued. Compare with Vinhomes Joint Stock Company →

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Cite: Fair Value Calculator (2026). "Arvind SmartSpaces Limited Fair Value". https://www.fairvalue-calculator.com/stock/ARVSMART

Peer Group

Real Estate - Development · 586 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 37 · Bottom 25%
Fair Value upside −46% · Bottom 25%
Return on equity (TTM) 12% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 17% · Above median
Operating margin (TTM) 37% · Top 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 0.4% · Below median
Debt / equity 0.76× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 28.9× · Pricier than 75% of peers
P/B 4.28× · Pricier than 75% of peers
P/S (TTM) 4.93× · Pricier than 75% of peers
EV/EBITDA 20.4× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 50
FUTURE 0 · sector 0
PAST 49 · sector 10
HEALTH 62 · sector 84
DIVIDEND 7 · sector 38

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Vinhomes Joint Stock Company VHM 147,000 VND 147,415 VND +0%
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,150 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%

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Frequently asked questions

Is Arvind SmartSpaces Limited (ARVSMART) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹357.46 versus a price of ₹665.55, about −46% (overvalued).
What is the fair value of ARVSMART?
Our model-based fair value for Arvind SmartSpaces Limited is ₹357.46 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹665.55.
What is the quality score of ARVSMART?
Arvind SmartSpaces Limited has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Arvind SmartSpaces Limited (ARVSMART)?
Arvind SmartSpaces Limited reported trailing-twelve-month revenue of about ₹5.6B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of ARVSMART?
The net profit margin of Arvind SmartSpaces Limited is about 17.1%, meaning it keeps roughly 17.1% of revenue as net income. Based on the latest reported figures.
Does Arvind SmartSpaces Limited pay a dividend?
Arvind SmartSpaces Limited currently shows a dividend yield of about 0.37% relative to its recent price (as of Aug 2, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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