Shares of Arvind SmartSpaces Ltd skyrocketed 15% higher on 19 February after the company sold its entire inventory in seven hours.

In its regulatory filing, the real estate developer said that it sold their entire inventory of more than 220 units with an estimated value of over ₹160 crore in the first phase of its residential project, Arvind Orchards, in Bengaluru.

The company’s Devanahalli project is situated near the Bengaluru International Airport, which is an established residential plotting micro-market boasting major economic hubs like the Aerospace SEZ and KIADB IT Park.

The project already has excellent infrastructure connectivity that includes the upcoming metro access, and the appeal is set to grow even further.

Kamal Singal, Managing Director and CEO of Arvind SmartSpaces said, “We have been able to create a strong presence in the Bengaluru market with a focus on designs that are inspired by the evolving preferences of our customers. Such strong responses to all our launches, including Greatlands, Greatlands-2, Forest Trails and now Orchards, exhibit the trust reposed by homebuyers in the legacy of the Arvind brand.”

The company ventured into the Bengaluru market in 2013, and since then, they have launched around 11 projects across various micro-markets within the city.

At 2:05 pm, the shares of Arvind SmartSpaces were trading 14.81% higher at Rs 653.65 on NSE.