Arvind SmartSpaces , a leading real estate developer, has reported mixed results for the second quarter of fiscal year 2026, with a notable success in its new project launch. The company's performance reflects both challenges and opportunities in the current real estate market.

Financial Performance

The company's financial results for Q2 FY26 show a decline in revenue and profitability compared to the same period last year:

Despite the year-over-year decline, the company achieved a significant sequential growth of 147% in bookings compared to the previous quarter.

Successful Project Launch

The highlight of the quarter was the launch of Arvind Everland project in Mankol. The project demonstrated strong market acceptance:

• 954 units sold
• Sales value of Rs. 400 crore
• 82% of launched inventory sold

This successful launch contributed significantly to the company's booking value for the quarter.

Financial Position

Arvind SmartSpaces maintains a robust financial position:

• Debt-free balance sheet
• Negative net debt of Rs. 32 crore
• Generated operating cash flows of Rs. 125 crore

Future Outlook

The company has outlined several strategic initiatives for future growth:

1. Plans for 4-5 project launches in the second half of the fiscal year
2. Targeting Rs. 3,000 crore of inventory to market
3. Entry into the Vadodara market with a Rs. 700 crore project
4. Addition of two new CXO positions to strengthen leadership

Management Commentary

Kulin Lalbhai, Chairman of Arvind SmartSpaces, commented on the company's strategic direction: "We are going to see a significant scale up, but keep the DNA still focused on profitability and cash flow. We remain focused on maintaining disciplined capital allocation and delivering design-led, high-quality products that reinforce Arvind SmartSpace's reputation as one of the most trusted real estate brands in the country."

Priyansh Kapoor, CEO, added: "We are fairly confident that with these launches coming in, we should be able to meet the guidance that we have given from a sales front. We don't see any risk there right now."

The company's mixed results, coupled with its successful project launch and strategic initiatives, indicate a focus on long-term growth and market expansion. Investors and stakeholders will be watching closely to see how these strategies unfold in the coming quarters.

Arvind SmartSpaces Limited (ASL), a prominent player in India's real estate sector, has announced a significant leadership change. Sanjay Lalbhai, the company's long-standing Chairman and Non-Executive Director, has stepped down from his position effective November 3, 2025. In a strategic move aimed at ensuring leadership continuity, Kulin Lalbhai, who previously served as Vice Chairman, has been appointed as the new Chairman of the company.

Succession Planning in Action

The transition is part of ASL's carefully orchestrated succession planning process. Sanjay Lalbhai, in his resignation letter, expressed that the time was appropriate to "relinquish my responsibilities and enable new leadership to guide the Company through its next phase of growth and success." He emphasized the importance of continuity in leadership and sustained organizational growth as key factors in his decision.

A Legacy of Growth and Innovation

Under Sanjay Lalbhai's leadership, Arvind SmartSpaces has established itself as a trusted name in the real estate sector. The company, founded in 2008, builds upon the 120-year legacy of the Lalbhai Group. ASL has developed approximately 108 million square feet of real estate across India, with projects spanning Ahmedabad, Gandhinagar, Bengaluru, Mumbai Metropolitan Region (MMR), and Pune.

Looking Ahead: Kulin Lalbhai's Vision

Kulin Lalbhai, in his new role as Chairman, acknowledged his father's significant contributions:

"I want to thank my father for being the inspiration behind all that we have achieved at Arvind Smartspaces. It is his vision and mentorship that have led us to become one of the fastest growing companies in the real estate space."

He expressed his commitment to building on the strong foundation laid by his predecessor, working alongside CEO Kamal Singal and the management team to drive the company forward "with purpose and ambition."

Company Profile

Arvind SmartSpaces Limited continues to position itself as a leading corporate real estate player in India, with plans for continued growth and value creation for all stakeholders. The leadership transition marks a new chapter in the company's journey, building on its established reputation while looking ahead to future innovations and expansion in the dynamic Indian real estate market.