Arvind SmartSpaces Launches ₹600 Crore Project in Ahmedabad

Arvind SmartSpaces Limited (ASL) has announced a new residential plotted development project in Ahmedabad with an estimated top-line potential of ₹600 crore. The project spans 150 acres and is located on Sanand-Nalsarovar Road.

Project Details

The project is situated 15 km from Sanand and 30 km from Nalsarovar Lake, a region known for the Nalsarovar Bird Sanctuary. The area is to witness increased real estate activity due to its connectivity and industrial development, as per the reports.

The project has a saleable area of 6.6 million sq. ft., adding to ASL’s existing portfolio in Ahmedabad. The company has been expanding its presence in plotted developments, which continue to see demand in emerging residential zones.

Business Expansion

With this project, Arvind SmartSpaces’ year-to-date (YTD) project addition value has reached ₹4,450 crore, making it the company’s largest business development year so far. The company has been focusing on horizontal real estate in Ahmedabad, leveraging the city’s infrastructure growth, as per the filing.

Background

Arvind SmartSpaces was founded in 2008 and is part of the Lalbhai Group, which has a legacy of over 120 years. The company has developed 106 million sq. ft. of real estate across cities including Ahmedabad, Gandhinagar, Bangalore, and Pune.

Its portfolio includes residential, commercial, and plotted developments, with a focus on both luxury and mid-segment housing.

Official Statement

Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, said: “Ahmedabad remains a strong market for real estate. This acquisition in the Sanand-Nalsarovar region adds to our ongoing growth strategy.”

Market Movement 

As of 12:10 PM on February 17, Arvind SmartSpaces Ltd is trading at ₹663.20, down ₹8.65 (1.29%) for the day. Over the past month, the stock has declined 17.36%, but it remains up 5.22% over the past year.

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