Arvind SmartSpaces posts record FY26 bookings of Rs. 1,550 crore, up 22%
Arvind SmartSpaces Limited filed its FY26 Annual Report, reporting record bookings of Rs. 1,550 crore (up 22% YoY), consolidated revenue from operations of Rs. 56,405.23 lakh, and net profit of Rs. 10,341.32 lakh. The board recommended a ₹2.25 per share final dividend with August 28, 2026 as the record date, and the 18th AGM is scheduled for September 11, 2026. The company added projects with an estimated Rs. 3,140 crore topline potential during the year and appointed Walker Chandiok & Co LLP as new statutory auditors following the completion of S R B C & Co LLP's maximum permissible tenure.

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Arvind SmartSpaces Limited submitted its Annual Report for the financial year 2025-26 to BSE Limited and the National Stock Exchange of India on August 18, 2026, pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report, dispatched electronically to shareholders, covers the company's operational and financial performance for the year ended March 31, 2026, and includes the notice convening the 18th Annual General Meeting scheduled for Friday, September 11, 2026.
Record Operational Performance
The company achieved its highest-ever annual booking value of Rs. 1,550 crore, reflecting a 22% year-on-year growth, driven by sustained demand across its existing portfolio and strong traction from new project launches. New projects contributed nearly 60% of annual bookings, amounting to approximately Rs. 930 crore. Collections during the year stood at a record Rs. 1,100 crore, up 17% year-on-year, supported by disciplined project execution and timely receivables. Net operating cash flows for the year were Rs. 417 crore, compared to Rs. 351 crore in the previous year.
Key project launches during the year included Arvind Skycrest in Bannerghatta, Bengaluru, which recorded bookings of 164 units worth Rs. 262 crore, representing 53% of inventory within a week of launch; Arvind Greenfields in Ajwa Road, Vadodara, with 323 units worth Rs. 178 crore (42% of launched inventory); and Arvind Everland in Mankol, Ahmedabad, with 1,112 units worth Rs. 461 crore (90% of launched inventory). Sustenance sales contributed over Rs. 600 crore to total bookings.
Financial Highlights for FY26
The following table presents the key financial metrics for the year ended March 31, 2026, on both standalone and consolidated bases.
| Metric: | Standalone (₹ lakh) | Consolidated (₹ lakh) |
|---|---|---|
| Revenue from operations: | 23,787.48 | 56,405.23 |
| EBITDA: | 9,031.16 | 17,232.56 |
| Net Profit: | 4,594.47 | 10,341.32 |
| Basic EPS (₹): | 10.02 | 21.04 |
| Diluted EPS (₹): | 9.98 | 20.95 |
On a standalone basis, revenue from operations grew to Rs. 23,787.48 lakh from Rs. 12,483.36 lakh in the previous year, with EBITDA margin expanding to 38% from 25%. Net profit attributable to equity holders on a consolidated basis stood at Rs. 9,644.35 lakh. The consolidated net debt-to-equity ratio increased to 0.26 as of March 31, 2026, from (0.04) a year earlier, reflecting debt deployed for new project acquisitions, while remaining well within the company's stated ceiling of 1.0x.
Business Development and Portfolio Expansion
During FY26, the company added projects with an estimated cumulative topline potential of approximately Rs. 3,140 crore across Ahmedabad, Bengaluru, Vadodara, and the Mumbai Metropolitan Region (MMR). Key additions included:
- A premium residential high-rise project in Vastrapur, Ahmedabad, with a topline potential of approximately Rs. 400 crore and saleable area of 3.6 lakh sq. ft.
- A premium residential high-rise project in Nallurahalli, Whitefield, Bengaluru, with a topline potential of approximately Rs. 550 crore and saleable area of approximately 4.6 lakh sq. ft.
- Two premium residential high-rise projects in Bengaluru: one in Sarjapur with a topline potential of approximately Rs. 860 crore and saleable area of approximately 6.8 lakh sq. ft., and one in Nagondanahalli, Whitefield, with a topline potential of approximately Rs. 330 crore and saleable area of approximately 2.5 lakh sq. ft.
- The company's first society redevelopment project in Santacruz, Mumbai, with an estimated topline potential of approximately Rs. 300 crore.
- Entry into Vadodara with a horizontal township project under the joint development model, with an estimated topline potential of approximately Rs. 700 crore.
As of March 31, 2026, the company had completed 9.8 Mn Sq. Ft. of development, with 57.9 Mn Sq. Ft. under ongoing projects and 29.9 Mn Sq. Ft. in the planned pipeline. Unrecognised revenue stood at Rs. 3,733 crore, up from Rs. 2,778 crore in the previous year, providing strong earnings visibility.
Dividend and AGM Details
The board recommended a final dividend of ₹2.25 per equity share of face value ₹10 each for FY26, marking the fourth consecutive year of dividend distribution. The dividend, if approved at the 18th AGM, will involve a cash outflow of approximately Rs. 1,032.01 lakh. The record date for dividend entitlement is Friday, August 28, 2026. With effect from November 18, 2025, dividends are processed only in electronic mode, with payment warrants discontinued as per SEBI guidelines.
The 18th AGM is scheduled for Friday, September 11, 2026, at 11:00 am via Video Conference/Other Audio Visual Means, with the deemed venue at the company's registered office in Ahmedabad. Remote e-voting will be available from 9:00 am on September 8, 2026, until 5:00 pm on September 10, 2026. The cut-off date for voting eligibility is September 4, 2026.
Auditor Appointment and Governance
M/s. S R B C & Co LLP resigned as statutory auditors after completing the maximum permissible term of 10 consecutive years (FY17 to FY26). The board appointed M/s. Walker Chandiok & Co LLP (ICAI Firm Registration No.: 001076N/N500013) to fill the casual vacancy with effect from August 7, 2026. Shareholders are being asked to ratify this appointment and approve Walker Chandiok's continuation for a term of five consecutive years from the conclusion of the 18th AGM until the conclusion of the 23rd AGM in 2031. The proposed remuneration for Walker Chandiok is Rs. 40 lakh for FY27, exclusive of applicable taxes and out-of-pocket expenses.
During FY26, the company underwent a planned leadership transition. Priyansh Kapoor was appointed as Managing Director and Chief Executive Officer with effect from February 10, 2026, while Kamal Singal was re-designated as Whole-time Director (Strategy and Investments). Kulin S. Lalbhai assumed the role of Chairman with effect from November 3, 2025. The company also strengthened its senior leadership bench with appointments of a new Chief Financial Officer, Chief Operating Officer, and city-level Chief Business Officers across Ahmedabad, Bengaluru, and the Mumbai Metropolitan Region.
The company holds an AA-/Stable long-term credit rating from India Ratings and Research, reflecting consistent operating performance and sound financial discipline. As of March 31, 2026, the company had a market capitalisation of Rs. 2,304 crore and a workforce of 536 employees.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE034S01021/9254ce3e-4099-477f-b286-979dbc52a565.pdf
Historical Stock Returns for Arvind SmartSpaces
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.72% | +1.00% | +10.50% | +20.47% | +11.70% | +441.54% |
How will the leadership transition to Priyansh Kapoor as MD & CEO impact Arvind SmartSpaces' strategic focus on premium segments and new city expansions?
Given the 6x increase in standalone revenue, what specific operational efficiencies or margin pressures might emerge as the company scales its project portfolio?
What are the potential risks associated with the increased net debt-to-equity ratio of 0.26, and how does the company plan to service this debt while maintaining its AA-/Stable credit rating?


































