Arvind SmartSpaces Expands with New Residential Project in Bengaluru, Aiming for Rs 600 Crore Revenue
Arvind SmartSpaces Limited (ASL) has launched a new residential project in Bengaluru, enhancing their portfolio and targeting a top-line potential of Rs 600 crore. The project, located on ITPL Road near Whitefield, is poised to strengthen the company's pr
Real EstateArvind SmartspacesBengaluruResidential ProjectsTopline PotentialReal EstateOct 09, 2024
This new addition follows the acquisition of the Bannerghatta high-rise project in FY24. The ITPL Main Road project will be ASL’s 12th overall project and their 8th high-rise project in Bengaluru. The project site is strategically located, offering excellent connectivity with a nearby metro station and seamless access to the IT/ITES hub in Whitefield, which is home to numerous IT companies and tech parks.
The location also benefits from well-developed social and civic infrastructure, including prominent schools, hospitals, retail, residential, and commercial spaces in close proximity. This makes it an attractive choice for homebuyers and investors alike.
Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, expressed his enthusiasm about the project, stating, “We are happy to add another high-rise project in Bangalore, strengthening our vertical development portfolio in one of India’s largest residential real estate markets. The brand ‘Arvind’ continues to resonate strongly with homebuyers and landowners alike, as we look to further deepen our presence in the Bangalore market.”
With the addition of this project, the company’s cumulative new business development topline potential for the year stands at around Rs 1,010 crore. Kamal Singal added, “The optimism in the real estate market remains strong, and we are well on track to conclude our ongoing business plan of adding new projects across Ahmedabad, Bengaluru, and MMR.”
Arvind SmartSpaces Limited (ASL) is a leading real estate developer in India, known for its innovative and sustainable projects. The company is part of the Lalbhai group, a diversified conglomerate with interests in textiles, engineering, and real estate. ASL is committed to delivering high-quality residential and commercial projects that cater to the diverse needs of its customers.
Frequently Asked Questions
Where is the new residential project by Arvind SmartSpaces located?
The new residential project by Arvind SmartSpaces is located on ITPL Road near Whitefield, Bengaluru.
What is the estimated saleable area of the new project?
The estimated saleable area of the new project is approximately 4.2 lakh square feet.
What is the top-line potential of the new project?
The top-line potential of the new project is around Rs 600 crore.
How many high-rise projects does Arvind SmartSpaces have in Bengaluru now?
With this new project, Arvind SmartSpaces now has a total of 8 high-rise projects in Bengaluru.
What is the cumulative new business development topline potential for ASL for the year?
The cumulative new business development topline potential for Arvind SmartSpaces for the year stands at around Rs 1,010 crore.
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