Arvind SmartSpaces adds its first residential apartment project in Mumbai

Arvind SmartSpaces Limited (ASL), one of India's leading real estate development companies, part of the Lalbhai group, today announced that it has signed a society redevelopment project in Santacruz, Mumbai. The project has a top-line potential of ~Rs. 300 crore with a total estimated carpet area for sale of 42,000 sq. ft. With this project addition, the cumulative new business development topline potential for the year stands at ~Rs. 3,140 crore.

This project marks Arvind SmartSpaces' entry into the society redevelopment segment. It is the Company's first residential apartment project in MMR and the second project in the region. Strategically located in a well established micro-market of Santacruz (West), the project has excellent connectivity from north-south arterial road linking Bandra, Khar, Santacruz, Vile Parle, and Andheri. It offers strong multimodal access via the Western Railway line, proximity to the Western Express Highway, and quick connectivity to the Chhatrapati Shivaji Maharaj International Airport, while also benefiting from improved east-west linkages through the Santacruz-Chembur Link Road. Its central location between key residential commercial and retail hubs, including BandraKurla Complex, drives strong end-user and rental demand, making it a high-potential residential corridor with sustained capital appreciation.

Commenting on this development, Mr. Priyansh Kapoor, Managing Director and CEO, Arvind SmartSpaces said, "This project addition is an important milestone in our Mumbai portfolio journey. MMR is a strategically important market for us, and redevelopment offers a compelling opportunity. The signing highlights our brand strength as society redevelopment space necessitates credibility. We are very excited to partner with the society members to deliver a landmark project.

The Company is strategically positioning itself to build a strong portfolio of projects in Mumbai leveraging its brand, execution track record, and strong balance sheet to scale in MMR over the medium term."

Shares of Arvind SmartSpaces Limited was last trading in BSE at Rs. 515.15 as compared to the previous close of Rs. 521.00. The total number of shares traded during the day was 466076 in over 282 trades.

The stock hit an intraday high of Rs. 525.80 and intraday low of 503.00. The net turnover during the day was Rs. 237706030.00.

Source : Equity Bulls

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ArvindSmartSpaces INE034S01021 Realty ResidentialApartmentProject Mumbai