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:

Director Appointments Seeking Approval

Shareholders will vote on two key resolutions:

1. Special Resolution: Appointment of Mr. Prashant Das (DIN: 03440571) as an Independent Director
2. 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

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

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.

Arvind SmartSpaces Limited has announced the acquisition of a new residential high-rise project in Whitefield, Bengaluru, with significant revenue potential. The project represents a strategic expansion in one of the city's most sought-after residential markets.

Project Details and Specifications

The newly acquired project demonstrates substantial scale and market positioning:

The project is strategically located in Whitefield, which has evolved into a premier residential and commercial hub over the past decade. The area continues to attract strong demand from professionals and families seeking premium living spaces, driven by its proximity to major IT parks, global corporations, and thriving social infrastructure.

Strategic Portfolio Expansion

This acquisition marks a significant milestone in the company's Bengaluru operations:

• Ninth high-rise project in Bengaluru for Arvind SmartSpaces
• Second acquisition in Whitefield following the ITPL road high-rise project
• Part of the company's 13 total projects across the Bengaluru region

The company entered the Bengaluru market in 2013 and has since established a strong presence with six projects already delivered and seven in various stages of development or pre-launch.

Management Commentary

Mr. Priyanshu Kapoor, CEO and Whole Time Director of Arvind SmartSpaces, emphasized the strategic importance of this acquisition. He highlighted that this represents the company's second acquisition in Whitefield, one of Bengaluru's most premium residential real estate markets. The project aligns with their strategic vision to deliver premium developments in high-demand micro-markets, ensuring sustained end-user interest and strong value creation.

Company Background and Market Position

Arvind SmartSpaces operates with a strong foundation built on the 128-year legacy of the Lalbhai Group. Established in 2008 and headquartered in Ahmedabad, the company has developed 109 million square feet of real estate across the country. The company maintains real estate developments across multiple key markets including Ahmedabad, Gandhinagar, Bengaluru, MMR, and Pune.

The management indicated plans to continue adding new projects across Gujarat, Bengaluru, and MMR during the remainder of the year, demonstrating ongoing expansion momentum in key metropolitan markets.