Arvind SmartSpaces Limited has launched a new residential high-rise project in Whitefield, Bengaluru, marking another significant expansion in the city's premium real estate market. The project carries an estimated revenue potential of ₹330 crore and spans across 2.08 acres with a total saleable area of 2.5 lakh sq. ft.

Project Details and Strategic Location

The newly launched project is strategically located in the Nagondanahalli area of Whitefield, Bengaluru, and has been acquired on an outright basis. This marks the company's third high-rise project addition in Bengaluru for FY26, following the Sarjapur Road high-rise project signed in February 2026.

Bengaluru Portfolio Expansion

This launch represents Arvind SmartSpaces' 11th high-rise project in Bengaluru, reinforcing the company's strong presence in the city's real estate market. The company entered the Bengaluru market in 2013 and has since developed a substantial portfolio across the region.

Whitefield continues to attract strong demand from professionals and families seeking premium living spaces, driven by its proximity to major IT parks, global corporations, and robust social infrastructure.

Financial Impact and Business Development

The project launch significantly contributes to Arvind SmartSpaces' business development targets for FY26. With this addition, the company's cumulative new business development topline potential for the year has reached ₹2,840 crore.

Management Commentary

Mr. Priyansh Kapoor, Managing Director and CEO of Arvind SmartSpaces, highlighted the strong momentum in the company's vertical development portfolio. He emphasized that FY26 continues to be a robust year for the company's high-rise projects and noted the strong resonance of the 'Arvind' brand with both homebuyers and landowners. The company plans to continue adding new projects across Ahmedabad, Bengaluru, and the Mumbai Metropolitan Region (MMR).

Company Background

Arvind SmartSpaces, established in 2008, operates under the 128+ years legacy of the Lalbhai Group. The company has developed 110.7 million square feet of real estate across India, with operations spanning Ahmedabad, Gandhinagar, Baroda, Bengaluru, MMR, and Pune.

Arvind SmartSpaces Limited has issued additional clarification regarding the exercise price for its Employee Stock Option Plan (ESOP) schemes following feedback from proxy advisors. The company provided this information on March 5, 2026, to bring greater clarity to shareholders ahead of the postal ballot voting on Special Resolutions No. 8 to 10.

Proxy Advisor Concerns

Proxy advisors raised concerns about the lack of clarity regarding exercise pricing for the company's ESOP schemes. They emphasized that stock options granted at significant discounts to market price create misalignment between investor and employee interests, noting that ESOPs should follow good practice by being granted at market price to maintain proper alignment.

Company's Pricing Clarification

In response to the feedback, Arvind SmartSpaces provided specific details about its exercise pricing methodology:

The company confirmed that options available for fresh grant, along with any lapsed options added back to the pool, will be granted at an exercise price equal to the latest available closing price prior to the date of the Board meeting in which options are granted.

Revised Exercise Price Formula

The company has updated the exercise price clause for Special Resolutions No. 8 and 9 in the postal ballot notice dated February 10, 2026. The revised pricing formula states that options will be granted at the latest available closing price prior to the Board meeting date on the stock exchange where the company's equity shares are listed. When shares are listed on multiple exchanges, the exchange with the highest trading volume on the grant date will be considered for pricing purposes.

Postal Ballot Resolutions

The clarification specifically addresses three special resolutions under consideration:

• Resolution No. 8: Amendments to Arvind Infrastructure Limited Employee Stock Option Plan 2016 (AIL ESOP 2016)
• Resolution No. 9: Secondary acquisition of shares through Trust route for AIL ESOP 2016 implementation
• Resolution No. 10: Provision of money by the company for share purchase by trust under both ASL-ESOS 2025 and AIL ESOP 2016

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has made this information available on its website and communicated it to both BSE Limited and National Stock Exchange of India Limited to ensure proper dissemination to all stakeholders.