Kulin Lalbhai Takes Helm as Chairman Amidst Profit Decline
Arvind SmartSpaces Ltd's second quarter profit dropped by 65% to Rs 14.17 crore due to reduced income. Total income decreased to Rs 144.03 crore from last year's Rs 269.28 crore. Kulin Lalbhai has been elevated to chairman as Sanjay Lalbhai steps down from the board by November 2025.
- Country:
- India
Realty firm Arvind SmartSpaces Ltd has reported a significant 65 percent decline in consolidated net profit to Rs 14.17 crore for the second quarter of the current fiscal, attributed to decreased income.
Compared to Rs 40.68 crore in the same period last year, total income fell sharply to Rs 144.03 crore from Rs 269.28 crore, as per Monday's regulatory filing.
The company's leadership sees a shift as Kulin Lalbhai ascends as chairman, succeeding his father, Sanjay Lalbhai, who will vacate the board by November 3, 2025.
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