Arvind SmartSpaces Limited delivered exceptional financial performance in Q3 FY26, reporting record quarterly collections and announcing a strategic leadership transition during its earnings conference call held on February 11, 2026.

Record Financial Performance in Q3 FY26

The company achieved its highest ever quarterly collections of Rs. 317 crore in Q3 FY26, marking a robust 38% year-on-year growth. This performance was complemented by strong booking momentum, with quarterly bookings reaching Rs. 331 crore, representing a significant 48% increase compared to the same period last year.

For the nine-month period ending December 31, 2025, Arvind SmartSpaces reported its highest ever collections of Rs. 744 crore, up 2% year-on-year, alongside bookings of Rs. 938 crore, representing 5% growth compared to the previous year.

Leadership Transition and Strategic Direction

The company announced a significant leadership transition with Priyansh Kapoor taking over as Managing Director from Kamal Singal, who successfully led the company for over 15 years. Kamal Singal will continue to contribute as Whole-Time Director overseeing Strategy and Investments, while also taking on broader Group-level responsibilities.

Chairman Kulin Lalbhai highlighted the strategic initiatives implemented over recent quarters, focusing on strengthening organizational capabilities, enhancing leadership depth, and building accountability at city levels. These efforts have resulted in improved execution momentum and a stronger project pipeline.

Robust Business Development Pipeline

Arvind SmartSpaces significantly expanded its project portfolio during FY26, adding developments with cumulative topline potential of approximately Rs. 2,510 crore across key markets:

The company maintains a target of Rs. 3,500-4,000 crore in business development guidance for the current financial year, with a healthy pipeline of opportunities across Gujarat, Bengaluru, and MMR markets.

Strong Operational Cash Flows and Market Position

Arvind SmartSpaces demonstrated exceptional cash flow generation with quarterly operating cash flows of Rs. 169 crore, representing 128% year-on-year growth. For the nine-month period, operating cash flows reached Rs. 321 crore, up 16% compared to the previous year.

The company estimates unrealized operating cash flow exceeding Rs. 4,581 crore from its current project pipeline, expected to materialize over the next 4-5 years. With a net debt position of Rs. 79 crore as of December 31, 2025, the company maintains a strong balance sheet position despite expanding operations.

Upcoming Launch Pipeline

Looking ahead to Q4 FY26, Arvind SmartSpaces plans to launch projects with approximately Rs. 1,500-1,600 crore in gross development value, including phases of industrial and residential developments across multiple markets. The company maintains its pre-sales guidance while focusing on sustenance sales, which have emerged as a meaningful contributor to overall bookings, providing stability and predictability to cash flows.

Arvind SmartSpaces Limited has announced its Q3 FY26 quarterly results for the quarter ended December 31, 2025, alongside a significant leadership transition. The Board of Directors approved these developments during their meeting held on February 10, 2026, under Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Major Leadership Transition

The company has implemented a structured leadership transition as part of its long-term succession planning. The key changes include:

Kamal Singal stepped down from his position as Managing Director and CEO with effect from the close of business hours on February 10, 2026, after leading the company with distinction for over 15 years.

Board Meeting Outcomes

The Board of Directors meeting, which commenced at 3:45 PM and concluded at 5:40 PM on February 10, 2026, approved several key decisions:

Both leadership changes are subject to approval by the company's members.

Earnings Call Recording Available

Following the results announcement, the company held a conference call with analysts and investors on February 11, 2026 to discuss the Q3 & 9M FY26 results. The audio recording of this earnings call is now available for stakeholders:

Management Commentary

Kulin Lalbhai, Chairman, emphasized that this transition represents the outcome of a structured succession process initiated in July 2025. He expressed confidence in Priyansh Kapoor's proven execution capabilities and extensive real estate industry experience to scale the company further.

Kamal Singal highlighted his 15-year journey with the company through multiple market cycles, expressing enthusiasm about contributing at the board level while working closely with the leadership team. Priyansh Kapoor committed to building on the strong foundation and driving sustainable long-term growth for all stakeholders.

Company Profile

Built on the 128+ years legacy of the Lalbhai Group and established in 2008, Arvind SmartSpaces operates as India's leading real estate development company headquartered in Ahmedabad. The company has developed approximately 110 million square feet of real estate across key markets including Ahmedabad, Gandhinagar, Bengaluru, MMR, and Pune.

Contact Information

For further information, stakeholders can contact Vikram Rajput, Head of Business Development MMR and Investor Relations, at vikram.rajput@arvind.in or +91 9607996930.