Ahmedabad: The Board of Directors of Arvind SmartSpaces Limited (ASL), one of India’s leading real estate development companies and part of the Lalbhai Group, has announced a leadership transition as part of the company’s long-term succession planning.
As part of this transition, Priyansh Kapoor, currently Whole-time Director & CEO, has been re-designated as Managing Director & CEO. Kamal Singal has stepped down as MD & CEO with effect from 10 February 2026. The company said the move reflects the Board’s continued focus on leadership continuity, governance excellence, and sustainable long-term growth.
Kamal Singal, who has led ASL for over a decade, will continue to serve on the Board as Whole-time Director (Director – Strategy & Investments). In this role, he will mentor the leadership team while providing strategic guidance and perspective on the company’s future direction. He will also take on a broader group-level mandate with the promoters.
Priyansh Kapoor, in his new role as Managing Director & Chief Executive Officer, will steer the company into its next phase of growth under the guidance and supervision of the Board. He will be responsible for overall management, shaping future business direction, and driving sustained value creation for shareholders. The company noted that ASL is well positioned to leverage its execution capabilities, strong portfolio across key geographies, and the enduring strength of the Group’s brand and legacy.
Kulin Lalbhai, Chairman, said, “This transition is the outcome of a structured and forward-looking succession process that we initiated in July 2025. Under Kamal’s leadership, ASL has built a strong platform for sustainable growth through disciplined execution and strategic expansion. We are grateful of his significant contribution and are pleased that the Company will continue to benefit from his expertise in his role as Director, overseeing Strategy and Investments. He will also work on a broader group level mandate with the promoters. We are delighted to designate Priyansh Kapoor as Managing Director & CEO and are confident that, with his proven execution capabilities, extensive experience and deep understanding of the real estate business, he will build on this strong foundation and will further scale the company to the next orbit in coming years.”
Commenting on the leadership transition, Kamal Singal, Director – Strategy & Investments, said, “After having spent more than 15 years with ASL and the real estate industry, I had the privilege of leading the company through multiple market cycles and this journey has been both challenging and deeply rewarding. Together with the Board and dedicated team, we have built a strong, resilient organisation with a clear long-term vision. As ASL is poised for a promising future, I look forward with enthusiasm to contribute at the board level working closely with Kulin and Priyansh. I am confident that Priyansh will continue to create sustainable value for all the stake holders.”
Speaking on his new role, Priyansh Kapoor said, “Over the past 6 months as WTD & CEO, I have had the opportunity to work closely with the Board and the leadership team and have gained deep understanding of the Group’s brand and legacy, the company’s strengths and the opportunities ahead of us. As I assume the new role, my focus continues to be on building a strong project pipeline, strengthening our execution capabilities delighting our customers. I continue to remain committed to build on the strong foundation laid by Kamal and his team, driving sustainable and long-term growth for all stake holders.”
