Real estate major Arvind Smartspaces Ltd were trading in the green and 2% higher on 17 February after the company announced signing an agreement for a new residential plotted development project in Ahmedabad.
Arvind Smartspaces announced in a stock exchange filing that its new residential project in Sanand is expected to generate nearly Rs 600 crore in total revenue.
Spanning 150 acres, the project offers a saleable area of 6.6 million square feet, significantly expanding the company’s presence in the fast-growing Ahmedabad region.
Strategically located along the Sanand-Nalsarovar road, the development is poised to benefit from its proximity to key landmarks and improving infrastructure. Positioned about 15 km from Sanand and 30 km from Nalsarovar Lake, the area is known for its natural beauty and ecological significance, particularly its closeness to the Nalsarovar Bird Sanctuary.
The project has been acquired outright, and its well-connected location offers seamless access to major industrial hubs. With the rising demand for horizontal real estate in the region, the development presents a promising opportunity for both homebuyers and investors.
Kamal Singal, Managing Director and CEO of Arvind Smartspaces said, “With this acquisition, our year-to-date project addition value now stands at ₹4,450 crore, marking our biggest-ever business development year.”
At 3:19 pm, the shares of Arvind Smartspaces were trading 0.42% lower at Rs 669 on NSE.
Ask the analyst & get instant answer about Arvind Smartspaces.
Tired of guessing stocks to trade in daily?
Unicorn Signals empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Unicorn Signals app today and take control of your investments!
