Arvind SmartSpaces Limited has informed the Exchange regarding Cessation of Mr Sanjay Lalbhai as Non- Executive Director of the company w.e.f. November 03, 2025.
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Arvind SmartSpaces announced a major board reshuffle on November 3, 2025. Mr. Sanjay S. Lalbhai, Chairman and Non-Executive Director, has stepped down as part of the company's succession planning. Mr. Kulin S. Lalbhai, previously Vice-Chairman, has been elevated to Chairman. The board also appointed Mr. Punit S. Lalbhai (Sanjay's son and Kulin's brother) as an Additional Non-Executive Director, and Dr. Prashant Das, a professor of Real Estate at IIM Ahmedabad, as an Additional Independent Director for a 5-year term. Additionally, Mr. Amit Chamaria, a Chartered Accountant with over two decades of finance leadership experience, has been appointed as the new Chief Financial Officer and KMP.
This is a planned, orderly family-led succession with continuity intact — the Lalbhai family (promoters) retain firm control through Kulin as Chairman and Punit joining the board. The new CFO and IIM Ahmedabad academic as Independent Director strengthen governance and finance expertise. Shareholders are unlikely to see disruption; the transition reinforces promoter commitment to the business.