Arvind SmartSpaces Issues Postal Ballot Notice for Director Appointments

Arvind SmartSpaces Limited , a prominent player in India's real estate sector, has issued a postal ballot notice dated November 3, 2025, seeking shareholder approval for key director appointments. The company previously announced significant leadership changes alongside its financial results for the second quarter of fiscal year 2026.

Postal Ballot Notice and Voting Schedule

The company has formally notified BSE Limited and National Stock Exchange of India Limited about the postal ballot process for director appointments. The voting schedule has been structured as follows:

Event	Date/Time
Cut-off Date for Voting Rights	Friday, December 19, 2025
Remote E-voting Commencement	Tuesday, December 30, 2025 (09:00 a.m.)
Remote E-voting End	Wednesday, January 28, 2026 (05:00 p.m.)
Scrutinizer Report Submission	On or before Friday, January 30, 2026
Results Declaration	On or before Friday, January 30, 2026

Director Appointments Seeking Approval

Shareholders will vote on two key resolutions:

Special Resolution: Appointment of Mr. Prashant Das (DIN: 03440571) as an Independent Director
Ordinary Resolution: Appointment of Mr. Punit S. Lalbhai (DIN: 05125502) as a Non-Executive Director

Both directors were initially appointed to the board on November 3, 2025, and now require formal shareholder approval.

Director Profiles and Expertise

Mr. Prashant Das - Proposed Independent Director

Profile Details	Information
Age	43 Years
Qualifications	PhD in Real Estate (Georgia State University), Master's in Land Development (Texas A&M University), Bachelor's in Architecture (IIT Roorkee)
Current Position	Chairperson of Finance & Accounting area and Associate Professor of Real Estate at IIM Ahmedabad
Expertise	Real estate private equity, REITs, MBS, commercial real estate
Publications	30+ research papers, 15 cases, three books
Awards	12 international research awards, two teaching excellence awards

Mr. Punit S. Lalbhai - Proposed Non-Executive Director

Profile Details	Information
Age	43 Years
Qualifications	Bachelor's in Conservation Biology (University of California, Davis), Masters in Environmental Science (Yale University), MBA (INSEAD, France)
Current Position	Vice Chairman of Arvind Ltd
Expertise	New materials, sustainable technologies, environmental sustainability
Relationship	Brother of Mr. Kulin S. Lalbhai, Chairman & Non-Executive Director
Other Directorships	14 companies including Arvind Limited, Deepak Nitrite Limited, Arvind Fashions Limited

Previous Leadership Transition

The postal ballot follows earlier announced leadership changes where Sanjay S. Lalbhai stepped down as Chairman, with Kulin S. Lalbhai elevated to Chairman of the Board. The company also appointed Amit Chamaria as the new Chief Financial Officer as part of its succession planning process.

Financial Context

For the quarter ended September 30, 2025, Arvind SmartSpaces reported consolidated revenue from operations of ₹14,051.19 crore compared to ₹26,558.10 crore in the same quarter of the previous year, representing a 47.09% decline. Net profit after tax decreased by 62.32% to ₹1,601.92 crore from ₹4,251.84 crore year-on-year.

The postal ballot process represents a crucial step in the company's governance structure enhancement, with both proposed directors bringing significant expertise in real estate, finance, and sustainable business practices to strengthen the board's capabilities.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.65%	-1.77%	-3.18%	-12.79%	-23.35%	+417.64%

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

Aspect	Details
Project Type	Horizontal Development
Location	Ajwa Road, Vadodara
Estimated Value	₹700 crore
Development Model	Joint Development

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.