Arvind SmartSpaces Reports Record Q2 Performance With 110% Surge in Bookings
Ahmedabad, November 7, 2026: Arvind SmartSpaces Limited, the real estate development arm of the Lalbhai Group, announced its financial results for the second quarter and half-year ended September 30, 2026, delivering record quarterly performance driven by strong new launches and sustenance sales, according to a company press release.
For Q2 FY27, the company reported a 110 percent surge in bookings to Rs 906 crore, compared to Rs 432 crore in the corresponding period of the previous year. Collections for the quarter increased to Rs 418 crore, up from Rs 236 crore in Q2 FY26. Revenue from operations reached Rs 157 crore compared to Rs 141 crore, while adjusted EBITDA rose to Rs 45 crore from Rs 31 crore. Profit after tax for the quarter stood at Rs 23 crore against Rs 18 crore in the previous year. The net debt-to-equity ratio improved to 0.26x as of September 30, 2026.
Performance was bolstered by key project launches during the quarter. In August 2026, the company launched Arvind Sylva, its largest vertical project to date located on Sarjapur Road in Bengaluru, achieving sales bookings of Rs 500 crore within 30 days. Towards the end of the quarter, it launched Arvind Iconia in Vastrapur, Ahmedabad, recording bookings worth Rs 81 crore.
For the first half of the financial year (H1 FY27), total bookings grew 120 percent year-on-year to Rs 1,338 crore, while collections rose 77 percent to Rs 754 crore. On the business development front, the company signed a joint development agreement in September 2026 for a residential high-rise project on Sarjapur Road, Bengaluru, with an estimated revenue potential of Rs 470 crore. This brings total new business development additions in FY27 to a top-line potential of approximately Rs 3,100 crore.
Commenting on the results, Priyansh Kapoor, Managing Director & CEO, Arvind SmartSpaces Ltd., said: “We are pleased to report our highest-ever quarterly and half yearly bookings as well as collections during the quarter, this achievement is driven by successful launches, strong sustenance engine and disciplined execution across our projects. We have also made strong progress on the business development front, adding projects having gross development value of ₹ 3,100 crore in the half year ended in September 2026. Accordingly, we are revising our FY27 bookings growth guidance upwards from our earlier stated range of 35%–40% i.e. ₹2100-2200 crore to the range of ₹2600 – 2700 crore translating into 70 to 75% year on year growth. Further basis the pipeline of the projects that we are evaluating, we are confident of meeting our business development aspirations, with a strong likelihood of achieving the upper end of our stated guidance of GDV addition of ₹4000 – 5000 crore. This upward revision reflects our confidence in the demand environment, the strength of our upcoming launch pipeline and the continued contribution expected from our sustenance sales portfolio. This also fortifies our strategic direction of focusing on the three-city strategy with a deep focus on execution and customer centricity. We also reiterate our EBITDA margin guidance in the range of 22%–25%. Looking ahead, we remain positive about the opportunities in our focus geographies. Our priority will be to convert our strong pipeline into launches and deliveries, while staying prudent on capital and uncompromising on governance. We are committed to creating enduring value for our customers, employees, shareholders and all stakeholders.”
