Arvind SmartSpaces, the real-estate arm of Ahmedabad's Lalbhai Group, reported bookings of ₹906 crore for July–September 2026, up 110% from ₹432 crore a year earlier. In its Q2 results, the company also raised its full-year FY27 bookings guidance to ₹2,600–2,700 crore, from ₹2,100–2,200 crore.
Its shares rose 3.15% to ₹592.50 in morning trade on 6 November, Angel One reported.
Arvind SmartSpaces Q2 results: the numbers
Collections, the cash actually received from buyers, rose 77% to ₹418 crore. Revenue from operations rose to ₹157.4 crore from ₹140.5 crore.
Adjusted EBITDA, or operating profit, was ₹45.3 crore against ₹31.1 crore. The margin widened to 29% from 22%. Profit after tax was ₹22.7 crore, up from ₹18.1 crore.
Net operating cash flow rose 22% to ₹152 crore. Net debt-to-equity improved to 0.26 times at the end of September from 0.29 times at the end of June.
For the first half of FY27, bookings rose 120% to ₹1,338 crore and collections rose 77% to ₹754 crore. Half-year profit after tax was ₹120.1 crore, against ₹30 crore a year earlier.
Bengaluru launch drives the quarter
Bengaluru accounted for 69% of quarterly bookings and Gujarat for 31%. The biggest contributor was Arvind Sylva on Sarjapur Road, Bengaluru, launched in August. It is the company's largest vertical project so far and drew about ₹500 crore of bookings, roughly 60% of its inventory, within 30 days.
In Ahmedabad, Arvind Iconia in Vastrapur, launched near the end of the quarter, recorded ₹81 crore of bookings, about 21% of its inventory.
"We are pleased to report our highest-ever quarterly and half yearly bookings as well as collections during the quarter," said Priyansh Kapoor, managing director and CEO. He said the guidance upgrade reflected confidence in demand, upcoming launches and continued sales in existing projects.
Land pipeline
In September, the company signed a joint development agreement for a residential high-rise on Sarjapur Road with estimated revenue potential of ₹470 crore and about 3.6 lakh sq ft of saleable area.
Business development so far in FY27 adds about ₹3,100 crore of top-line potential. The company kept its full-year target of ₹4,000–5,000 crore of new GDV and said the upper end was "strongly likely".
What it means for you
For shareholders, the raised guidance implies bookings growth of 70–75% for FY27, the company said. With ₹1,338 crore booked in the first half, it needs roughly ₹1,260–1,360 crore more in October–March to meet the new range.
For home buyers in Bengaluru's Sarjapur Road and Ahmedabad's Vastrapur, the quick sell-through at Arvind Sylva, about 60% of inventory in a month, shows how fast well-located launches can move. Buyers considering the company's upcoming projects should check RERA registration and the promised completion date before booking.
Sources
- RealtyNMore: Arvind SmartSpaces Reports Record Q2 Performance With 110% Surge in Bookings — published 7 November 2026.
- Angel One: Arvind SmartSpaces share price gains over 3%; Q2FY27 bookings rise 110% — published 6 November 2026.
Frequently asked questions
What were Arvind SmartSpaces' Q2 FY27 bookings?
Bookings for July–September 2026 were ₹906 crore, up 110% from ₹432 crore a year earlier, the company's highest quarterly figure.
How did Arvind SmartSpaces shares react to the Q2 results?
The stock traded at ₹592.50 on the morning of 6 November 2026, up 3.15% from the previous close, according to Angel One.
What is Arvind SmartSpaces' FY27 guidance?
The company raised its FY27 bookings guidance to ₹2,600–2,700 crore from ₹2,100–2,200 crore and kept its EBITDA margin guidance at 22–25%.