Target: ₹740
CMP: ₹599.15
Arvind Smartspaces’ management recently saw a change in structure, with the new CEO, Priyansh Kapoor, taking the reins while Kulin Lalbhai continues to be the vice-chairman of the company. Arvind has highlighted its change in management personnel and a resulting change in the overall structure and process of the company.
The new management is more focused on enhancing efficiencies and reducing the time lag from ‘announcement of project-to-launch’ period. Its new CEO, Priyansh Kapoor, has over 10 years of experience with Mumbai real estate.
The management reaffirmed its FY26 pre-sales growth guidance of about 30-35 per cent, supported by a robust launch pipeline of 4–5 projects in H2FY26 with an estimated GDV of about ₹3,000 crore.
It expects sales, collections, and execution momentum to strengthen in the H2 as new projects in Ahmedabad, Vadodara, MMR, and Bengaluru come to market. The company remains focused on asset-light expansion, capital-efficient growth, and sustained cash generation. Management reiterated confidence that the ongoing organisational transformation and tri-city-led model will enable project scale-up. It continues to maintain a strong balance sheet and disciplined capital allocation.
We value the company at 5.5x FY28E Pre-sales/EBITDA, and maintain our BUY recommendation on the stock with a TP of ₹740.
Published on December 26, 2025
