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Arvind SmartSpaces reported a 13.22% decline in consolidated net profit for FY26, even as the company achieved its highest-ever annual bookings and expanded its residential pipeline across Bengaluru and Mumbai. Profit after tax stood at INR 103.41 crore compared to INR 119.16 crore in FY25, while total income also declined during the year. However, the company posted strong growth in the March quarter, with quarterly profit rising more than 102% year-on-year. The developer also approved fundraising plans of up to INR 300 crore through debt securities and recommended a final dividend of INR 2.25 per equity share.
Arvind SmartSpaces reported a consolidated net profit of INR 103.41 crore for FY26, registering a decline of 13.22% from INR 119.16 crore recorded in the previous financial year. The company’s total consolidated income also fell 20.49% to INR 584.47 crore from INR 735.11 crore in FY25, according to its latest regulatory filing. Advertisement
Despite the annual decline, the company delivered a strong performance during the fourth quarter of FY26. Net profit for the January-March quarter increased 102.94% year-on-year to INR 44.16 crore compared to INR 21.76 crore in the corresponding quarter last year. Total income during the quarter, however, declined 6.09% to INR 163.53 crore from INR 174.14 crore reported a year earlier.
The board of directors recommended a final dividend of INR 2.25 per equity share with a face value of INR 10 each for FY26. The company also approved plans to raise up to INR 300 crore through debt securities, including listed secured non-convertible debentures on a private placement basis.
During FY26, the company recorded its highest-ever annual bookings at INR 1,550 crore, reflecting a 22% increase over INR 1,271 crore achieved in FY25. Collections during the year also rose to INR 1,100 crore from INR 942 crore in the previous year, showing continued customer demand across projects.
Bengaluru remained the company’s largest market and contributed nearly INR 485 crore to annual bookings, accounting for around 31% of total sales. Managing Director and CEO Priyansh Kapoor said the company added projects with a cumulative topline potential of around INR 3,140 crore during the financial year.
The developer continued expanding its residential portfolio in Bengaluru through multiple acquisitions. It acquired a residential high-rise project on Sarjapur Road with an estimated saleable area of 6.8 lakh sq ft and revenue potential of nearly INR 860 crore. Another residential project in Whitefield with a saleable area of 2.5 lakh sq ft and expected topline potential of INR 330 crore was also acquired on an outright basis.
In Mumbai, the company entered the society redevelopment segment through a project in Santacruz with an estimated revenue potential of INR 300 crore. It also signed a joint development agreement for a high-rise residential project in Goregaon with an estimated topline potential of INR 2,400 crore and a saleable carpet area of around 0.67 million sq ft.
The company’s debt levels increased during the final quarter of FY26 as it accelerated investments towards business development and land acquisitions. Net debt stood at INR 167 crore as of March 31, 2026, compared to INR 79 crore at the end of December 2025. The net debt-to-equity ratio also rose to 0.26 from 0.13 during the same period.
Earlier in FY26, the company had reported pressure on profitability due to slower revenue recognition despite healthy bookings and collections. In the third quarter, Arvind SmartSpaces had posted a decline in profit after tax to INR 29 crore from INR 50 crore in the year-ago period. However, the company continued focusing on new launches, expansion into high-demand micro-markets and asset-light growth opportunities across Bengaluru, Ahmedabad and Mumbai.
Arvind SmartSpaces, part of the Lalbhai Group, has been steadily increasing its presence in key residential markets over the last few years through joint development agreements, plotted developments and redevelopment projects. The company has also focused on maintaining a balanced portfolio across mid-income, premium and horizontal housing segments as demand for organised residential projects continues to remain stable in major cities.
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