Arvind SmartSpaces names Priyansh Kapoor MD & CEO; Q3 profit falls 40%

Arvind SmartSpaces Names Priyansh Kapoor as New Managing Director and CEO

Arvind SmartSpaces Ltd has announced the appointment of Priyansh Kapoor as its new Managing Director and Chief Executive Officer, as part of a planned leadership transition. This move comes as the real estate developer reports a significant decline in consolidated net profit for the third quarter of FY26.

Financial Performance

• Net profit attributable to equity holders fell to ₹28.76 crore for the quarter ended December 31, 2025, a 40 percent decline from ₹47.7 crore a year ago.
• Revenue from operations declined 21 percent year-on-year to ₹166 crore during the quarter.
• Profitability was impacted by lower revenues and a one-time increase in provision for employee benefits of ₹2.59 crore following the implementation of new labour codes.

Leadership Transition

Kamal Singal has stepped down as Managing Director and CEO, effective February 10, and has been re-designated as Whole-time Director – Strategy and Investments, subject to shareholder approval.

Priyansh Kapoor, the newly appointed MD & CEO, will build on the strong foundation laid by Kamal Singal. With his extensive experience and deep understanding of the real estate business, he is poised to drive the company's growth and scale it to new heights.

Comment from Chairman

"Under Kamal's leadership, ASL has built a strong platform for sustainable growth through disciplined execution and strategic expansion," said Kulin Lalbhai, Chairman of the company. "We are confident that Priyansh Kapoor will continue to drive the company's growth and take it to the next level."

Background on Leadership Transition

The leadership transition is part of a structured succession plan initiated in July 2025, aimed at ensuring continuity, governance standards, and long-term growth. Kamal Singal will continue to mentor the leadership team and oversee strategy and investments.