Arvind SmartSpaces Ltd

Retirement of SMP and IT leadership re-designation

• Retirement of Vijay Taneja as Head - Information Technology, ceasing SMP status, effective 30 September 2026.
• Kishor Vegada designated as Head - IT, reporting to CFO Amit Chamaria; previously Chief General Manager - IT.

Arvind SmartSpaces Limited: Trading Window closed from 1 October 2026 till 48 hours after announcement/declaration of Unaudited Financial Results for the quarter and half year ending on 30 September 2026.

New Bengaluru high-rise project

• Acquired on a joint development basis on Sarjapur Road, Bengaluru.
• Saleable area ~3.6 lakh sq ft.
• Top-line potential Rs 470 Cr (including partner’s share).
• 11th Bengaluru high-rise project for ASL.
• Site area 2.5 acres; extension of Arvind Sylva.
• Cumulative FY27 top-line potential ~Rs 3,100 Cr.
• Growth plans across Gujarat, Bengaluru and MMR on track.

Launch performance and project details

• Bookings over ₹500 crore within 30 days of launch, inventory absorption ~60% by value.
• Outright acquisition of the project in February 2026; topline potential ₹860 crore.
• Located on Sarjapur Road, Bengaluru; 4.7 acres with ~375 premium residences.
• MD & CEO Priyansh Kapoor notes it is the largest vertical project to date and momentum is expected.

Capital / Securities

• Allotted 20,000 equity shares of Rs 10 each to ASL ESOP Trust.
• Shares will be transferred to eligible employee upon exercise of stock options.

AGM details

• AGM held on 11 September 2026 at 11:00 a.m. via VC/OAVM.
• Record date for voting: 4 September 2026.

Resolutions and outcomes

• Resolution 1: Adoption of audited financials; approved 99.84% in favour.
• Resolution 2: Dividend on equity shares declared; amount per share not disclosed.
• Resolution 3: Re-appointment of director by rotation; approved.
• Resolution 4: Appointment of Walker Chandiok & Co LLP as statutory auditors for five years; approved.
• Resolution 5: Appointment to fill casual vacancy; Walker Chandiok appointed; approved.
• Resolution 6: Ratify remuneration of cost auditors for 2026-27; approved.
• Resolution 7: Special resolution to pay remuneration/commission to non-executive directors for five years; approved.
• Material related-party transactions: none disclosed as material.

AGM Details

• AGM conducted via VC/OAVM; 11:00–12:00 IST.

Key Resolutions

• Adoption of audited financial statements for year ended 31 March 2026.
• Dividend declaration on equity shares for year ended 31 March 2026.
• Re-appointment of Kulin Lalbhai as director liable to retire by rotation.
• Appointment of Walker Chandiok & Co LLP as statutory auditors for five years.
• Appointment to fill casual vacancy of statutory auditors.
• Ratification of remuneration for Kiran J. Mehta & Co. Cost Accountants for FY2027.
• Special: approval of remuneration/commission to non-executive directors for five years.

Voting Status

• Voting results to be submitted separately.

Rating Action Details

• Instrument: Proposed Optional Convertible Debentures (OCDs) of INR 1,000 million rated IND A/Stable.
• Agency: India Ratings and Research (Ind-Ra).
• Rationale: Strong parent linkage with ASSL supports ASHPL via common management and brand.
• Projects: ASSL has 15 ongoing projects; ASHPL accounts for three.
• Liquidity: ASHPL cash INR 716m; no near-term debt; OCDs secured against receivables.
• Consolidated FY26: net debt INR 3,299m; revenue INR 5,641m; EBITDA INR 1,519m.
• Cash position: Consolidated end-FY26 cash and investments INR 2,476m; undrawn WC facilities INR 225m.
• Outlook: Stable.
• Rating sensitivities: Positive if parent linkages strengthen; Negative if linkages weaken.
• Regulatory/sector risk: Real estate cyclicality and regulatory exposure.
• Liquidity outlook: Net OCF expected INR 5,000–6,000m annually; debt repayment ~INR 7,000–8,000m FY27–29.
• Debt plan: Additional INR 1,000m OCDs planned; tenor eight years extendable to ten.
• Other: ASHPL revenue FY26 INR 873m; presales-to-debt ratio 4.7x.

Auditor appointment details

• Material Subsidiaries' boards approved Walker Chandiok & Co LLP as statutory auditors to fill casual vacancy.
• Appointment is effective from 20 August 2026 until the ensuing AGM.
• Subject to shareholder approval at the ensuing AGM for a five-year term.
• Name of auditor: Walker Chandiok & Co LLP; Firm Reg. No. 001076N/N500013.
• Casual vacancy arose due to resignation of S R B C & Co LLP.