Arvind SmartSpaces Limited , a prominent player in India's real estate sector, has unveiled significant leadership changes alongside its financial results for the second quarter of fiscal year 2026. The company's board has approved a series of strategic appointments and transitions, signaling a new phase in its corporate governance structure.

Leadership Transition

In a move aimed at ensuring leadership continuity and sustained organizational growth, Arvind SmartSpaces has announced key changes to its board composition:

• Sanjay S. Lalbhai has stepped down from his position as Chairman and Non-Executive Director, effective November 3, 2025.
• Kulin S. Lalbhai, previously serving as Vice-Chairman, has been elevated to the role of Chairman of the Board and the Company.
• Prashant Das has been appointed as an Additional Director in the capacity of Independent Director for a five-year term, subject to shareholder approval.
• Punit S. Lalbhai joins the board as an Additional Director in the capacity of Non-Executive Director, pending member approval.
• Amit Chamaria has been named as the new Chief Financial Officer of the company.

Commenting on the transition, outgoing Chairman Sanjay Lalbhai stated, "It has been an honor to serve on the Board of Arvind SmartSpaces and witness its journey from inception to becoming a trusted real estate brand. As part of the company's succession planning process and with a view to ensuring continuity in leadership, I have decided to step down from the position of Chairman and Non-Executive Director of the company."

Financial Performance

For the quarter ended September 30, 2025, Arvind SmartSpaces reported the following consolidated financial results:

On a standalone basis, the company reported a net loss of ₹378.45 crore for Q2 FY2026, compared to a net loss of ₹42.53 crore in the same quarter of the previous fiscal year.

Future Outlook

Newly appointed Chairman Kulin Lalbhai expressed optimism about the company's future, stating, "As we enter a new phase of growth, I look forward to working with Mr. Kamal Singal, Mr. Priyansh Kapoor, and the entire team to build on this strong foundation and drive the company forward with purpose and ambition."

The leadership transition and financial results come at a time when the real estate sector in India is navigating through various macroeconomic challenges. Arvind SmartSpaces' strategic changes in management structure may be seen as a proactive step to strengthen its position in the market and adapt to evolving industry dynamics.

Investors and industry observers will be keenly watching how these leadership changes and the company's financial performance will shape its future strategies and market position in the competitive real estate landscape.

Arvind SmartSpaces Limited (ASL), a prominent player in India's real estate sector, has announced its entry into the Vadodara residential market with a large-scale horizontal development project. The company, known for its smart design and future-ready amenities, is set to redefine urban living in the city with this strategic move.

Project Details

Strategic Expansion

This new venture marks ASL's 23rd project in Gujarat, aligning with the company's strategy to expand into high-potential markets and strengthen its presence in the state. The project is strategically located in the Ajwa road micro-market, offering a unique blend of luxury living amidst nature while maintaining seamless connectivity to the city.

Management's Perspective

Mr. Priyansh Kapoor, CEO and Whole Time Director of Arvind SmartSpaces, expressed enthusiasm about the expansion, stating, "We are delighted to expand into a new city and enter the vibrant and emerging residential market of Vadodara. The optimism in the real estate market remains strong, and we look forward to adding new projects across Gujarat, Bengaluru, and MMR during the remainder of the year."

Company Background

Arvind SmartSpaces, established in 2008, is built on the 120-year legacy of the Lalbhai Group. The company has developed approximately 108 million square feet of real estate across India, with a focus on delivering value-adding real estate solutions to its customers. ASL has a presence in Ahmedabad, Gandhinagar, Bengaluru, Mumbai Metropolitan Region (MMR), and Pune.

Future Outlook

With the real estate market showing strong optimism, Arvind SmartSpaces is poised for continued growth. The company plans to leverage its strong brand name and the credibility achieved through previously delivered projects to expand its footprint in key markets across India.

This move into Vadodara demonstrates Arvind SmartSpaces' commitment to growth and its ability to identify and capitalize on emerging real estate opportunities in India's dynamic urban landscape.