A decline in revenues saw Arvind SmartSpaces Ltd (ASL) — a real-estate arm of textile manufacturer Arvind Ltd — on Monday register a drop of 57 percent in Profit After Tax (PAT) at ₹18 crore for the second quarter of financial year 2025-26.

The company also announced that Sanjay Lalbhai will step down from the Board of Directors of the company, effective Monday while his son and Vice-chairman of the company, Kulin Lalbhai, will be elevated as the Chairman. Sanjay Lalbhai stated in an official release, “It has been an honour to serve on the Board of Arvind SmartSpaces and witness its journey from inception to becoming a trusted real estate brand. I am grateful to our team for their commitment and to our customers and stakeholders for their unwavering support. As a part of the company’s suc

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