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Realty developer Arvind SmartSpaces has recently entered into two significant agreements for the development of projects spanning a total of 340 acres in Surat and Ahmedabad, with a combined topline potential exceeding Rs 1,350 crore.
In Surat, the company has committed to a large horizontal multi-use golf-themed development, encompassing plotted and villa projects across an estimated area of over 300 acres. The project, with a topline potential of Rs 1,100 crore, is strategically located in northern Surat along NH-48 and is signed under the joint development model. This venture marks the company's entry into the Surat market, adding to its existing portfolio in Ahmedabad and Gandhinagar.
Simultaneously, Arvind SmartSpaces is embarking on a plotted development project in Ahmedabad, covering approximately 40 acres with a revenue potential of Rs 250 crore. This Lakshmanpura-based project will be the company's twentieth venture in Gujarat, acquired outright.
With this latest addition in Ahmedabad, the company now oversees an extensive portfolio of 56 million sq. ft. of projects in the region. The projects are strategically situated for well-developed connectivity to various parts of the cities, with close proximity to key business hubs such as Shilaj, Sindhu Bhavan Road, and SP Ring Road, among others.
Arvind SmartSpaces' diversification efforts have resulted in a cumulative new business development topline potential of Rs 4,150 crore for the current year to date. Looking ahead, the company aims to expand its presence by adding more projects in Bengaluru, Pune, and the MMR region in the upcoming quarters. Currently operational in five cities across the country, Arvind SmartSpaces continues to demonstrate its commitment to strategic growth and diversification in the real estate sector.
News by Rahul Yelligetti
