Arihant Superstructures repays ₹75.34 crore debentures and frees three project mortgages
The payment closes a secured debt series and releases security over three Mumbai-region projects, as the stock fell sharply two days earlier.
Key points
- Arihant Superstructures completed full redemption of ₹70 crore secured NCDs on 23 October 2026, paying ₹75.34 crore including interest and charges.
- The payment went to the India Real Estate Investment Fund (Series 2), with ICICI Prudential AMC confirming receipt as full and final repayment.
- Security over three projects, covering mortgages, development rights, receivables and escrow accounts, has been released.
- The stock closed at ₹207.50 on 21 October 2026, down 10.27%; no link to the redemption has been reported.
Arihant Superstructures Limited has fully redeemed ₹70 crore of secured non-convertible debentures (NCDs) on 23 October 2026, paying a total of ₹75.34 crore to the India Real Estate Investment Fund. The difference of ₹5.34 crore over face value covers accrued interest and charges. The company's real estate and construction business is based in Navi Mumbai, and the security released relates to three projects in the Mumbai region.
What was repaid and what was released
The debentures were 70 lakh unlisted, unrated, redeemable NCDs with a face value of ₹100 each. They were issued under a Debenture Trust Deed dated 2 April 2024. IDBI Trusteeship Services Limited, the debenture trustee, facilitated the transaction and issued a No Due Certificate confirming that the security created for the debenture holder has been released.
The security package covered first-ranking or pari-passu charges and mortgages on immovable properties, development rights, project receivables and escrow accounts linked to three projects. These include Arihant Adarsh and Arihant Aaradhya. Releasing these charges means the company's rights over the projects' receivables are no longer held under this debt arrangement.
ICICI Prudential Asset Management Company, which acts as investment manager for the fund, confirmed receipt of ₹75.34 crore as full and final repayment of the debentures.
Reading the balance sheet
For FY2025-26, consolidated figures show revenue of ₹550.97 crore, up 10.45% from the previous year. Reported net profit was ₹46.04 crore. The company's 52-week price range is ₹188.80 to ₹447.55, so the stock has moved a long way in the past year.
The repayment removes a secured debt obligation of ₹70 crore from the company's recent borrowing record. The filings reviewed do not give the company's leverage after the repayment, nor any figure for how much new borrowing it plans. Investors will need the company's own disclosure to judge the effect on its debt position.
The stock traded at ₹207.50 on 21 October 2026, down 10.27% from the previous close of ₹231.25. The redemption was announced two days later. No connection between the two has been reported.
What investors will watch
- The company's formal exchange filing on the redemption, to confirm the payment terms and the status of each released project.
- Any disclosure on fresh secured borrowing against the same or other projects, now that the earlier charges are cleared.
- The FY2026-27 quarterly results, to see whether revenue growth holds and how the debt position changes.
- Whether a separate NCD series reported in an April 2024 filing, for ₹45 crore, is still outstanding, since the sources reviewed do not link it to the ₹70 crore redemption.
For now, the 23 October 2026 redemption is a clean closure of one secured debt series. The next figures that matter are the company's own disclosures on its debt, its quarterly results and any new financing.
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