Arvind Smartspaces reports record FY26 bookings, guides 35-40% growth

Arvind Smartspaces closed FY26 with record bookings of ₹1,560 crore, a strong base that management now aims to grow 35-40% in FY27. That guidance comes with an explicit EBITDA margin target of 22-25%, a notable step up for a developer that has historically hovered in the 18-20% range. Supporting the targets are six planned launches with a combined inventory value of ₹3,000-3,500 crore, alongside a business development pipeline targeting ₹4,000-5,000 crore gross development value. The concall struck a confident tone: the company is not just guiding higher but committing to a margin floor that, if held, would mark a structural improvement. The real test lies in execution — whether launches stay on schedule, whether the GDV pipeline converts, and whether margins actually land within the band. For now, the stock has a clear set of milestones to be judged against.