Arihant Superstructures appoints Parth, Bhavik Chhajer as Joint Managing Directors

Mumbai: Navi Mumbai-based listed realty firm Arihant Superstructures appoints the sons of its chairman and managing director, Ashokkumar B. Chhajer, Parth and Bhavik, as joint managing directors.

An alumnus of Pennsylvania State University, Parth has also served as a whole-time director and brings capital markets experience from stints at CLSA, Equirus and Deloitte. Bhavik, an alumnus of the Kelley School of Business, joined the group in 2020. Both were appointed to five-year terms effective May 15, subject to shareholder approval, the company said in its regulatory filing.

The promoter family's consolidation of the management structure comes as the company contemplates the next phase of growth, alongside predictable succession planning.


The company’s consolidated revenue from operations rose to Rs 550.97 crore from Rs 498.83 crore in FY25, while total consolidated assets expanded to Rs 1,770.15 crore from Rs 1,586.15 crore, signalling that the group's broader project pipeline and subsidiary operations remain on a growth trajectory.

The company’s consolidated PAT (profit after tax) stood at Rs 46.04 crore, compared with Rs 54.68 crore in FY25, impacted by higher costs and the absorption of finance costs during the execution cycle.

The company maintains strong project visibility, with a Gross Development Value (GDV) of over Rs 14,000 crore, supported by its MMR-focused residential portfolio.

Harshal Anjaria, founder of Ahmedabad-based boutique capital-raising advisory firm Shreeyam Advisors, said the company’s FY26 numbers reflect steady top-line growth and execution-led scale-up. “While profitability was comparatively softer, the company’s project visibility, delivery momentum and Navi Mumbai-led positioning remain key factors to watch for future value creation,” he added.