Arvind SmartSpaces Limited (ASL), one of India’s leading real estate developers, has announced a key leadership transition with Sanjay Lalbhai stepping down from the company’s Board of Directors, effective November 3, 2025. The board has approved the appointment of Kulin Lalbhai as the new Chairman. The move marks an important milestone in ASL’s succession planning, ensuring continuity in leadership as the company enters its next phase of growth and innovation.

Lalbhai has played a pivotal role in shaping the strategic direction of ASL since its inception, contributing to its growth and reputation as a trusted name in the real estate sector. His vision and leadership have been instrumental in establishing ASL’s strong foundation and values.

Commenting on the announcement, Sanjay Lalbhai said, “It has been an honor 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 succession planning process and with a view to ensuring continuity in leadership I have decided to step down from the position of Chairman and Non-Executive Director of the company. We are well-positioned for the future, and I am confident that Kulin and the management team will continue to create sustainable, long-term value for all.”

Following this transition, Kulin Lalbhai, currently serving as Vice Chairman, will assume the role of Chairman of the company. With his deep understanding of the business and proven leadership capabilities, Mr. Kulin Lalbhai is well-positioned to steer ASL into its next phase of growth and innovation.

Kulin Lalbhai, Chairman, Arvind SmartSpaces, said, “I want to thank my father for being the inspiration behind all that we have achieved at ArvindSmartspaces. It is his vision and mentorship that have led us to become one of the fastest growing companies in the real estate space. As we enter a new phase of growth, I look forward to work with Mr Kamal Singal, Mr. Priyansh Kapoor and the entire team to build on this strong foundation and drive the company forward with purpose and ambition.”