Arvind SmartSpaces Announces ₹9,500 Crore Multi-State Real Estate Initiative.

Arvind SmartSpaces Ltd is set to roll out ₹9,500 crore worth of upcoming projects across Gujarat, Maharashtra, and Karnataka over the next 4–5 years, with a significant portion expected to hit the market within the next 18 months, even as the broader residential real estate cycle shows signs of stabilising.

Gujarat leads the pipeline with ₹5,077 crore of yet-to-be-launched projects, followed by Karnataka at ₹2,899 crore and Maharashtra at ₹1,520 crore, according to the company. “Most of these projects are work in progress. Some of these are very large projects and so there is a possibility that some of the phases of these projects will come in 1–1.5 years. But largely, when you look at that kind of inventory, we are looking to monetise most of the assets over the next 4–5 years — from launch, selling, and construction perspective. From an inventory point of view, this is quite Ahmedabad-heavy. But over 18 months, we expect most of this inventory to start coming into the market,” said Priyansh Kapoor, Managing Director and CEO, in a statement to investors on Wednesday.

Despite the robust pipeline, Arvind SmartSpaces has fallen short of its launch guidance for the current financial year, primarily due to slower-than-anticipated approvals and phased project rollouts. The company had targeted ₹2,500 crore worth of launches but has achieved only ₹500 crore so far. “We should have done at least ₹2,000 crore of inventory in the last quarter. In Bengaluru, out of the two projects we were expecting this year, we will probably get only one. That is why our current estimate is less on the approval front. Second, we had also mentioned that the industrial project will come in parts, and Vadodara we are doing in phases,” Kapoor added.

The company intends to launch ₹1,500 crore worth of projects in the ongoing fourth quarter of FY26.