Published On:October 9 2024
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"Arvind SmartSpaces Expands Bengaluru Portfolio with New High-Rise Development"
Arvind SmartSpaces Limited (ASL) announced the acquisition of a new residential apartment project in Bengaluru, featuring a high-rise development situated on ITPL Road near Whitefield. This project is expected to generate a top-line potential of approximately ₹600 crore.
Spanning 2.9 acres, the new development will offer a saleable area of 4.2 lakh square feet, marking ASL’s 12th overall project and its 8th high-rise venture in Bengaluru. The project will be executed on a joint development basis.
This acquisition follows ASL’s recent signing of the Bannerghatta high-rise project in FY24. With this addition, the company's cumulative new business development top-line potential for the year has now reached ₹1,010 crore.
Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, expressed confidence in the real estate market, noting that the company is on track to expand its project portfolio across Ahmedabad, Bengaluru, and the Mumbai Metropolitan Region (MMR).
The ITPL Road location provides convenient access to IT hubs, social infrastructure, and transportation links, including a nearby metro station, enhancing its appeal to potential residents.
HBL