Arvind SmartSpaces rose 2.39% to Rs 244.50 after the company said that its board approved the consolidation of the partnership interest in Ahmedabad East Infrastructure.
The board of Arvind SmartSpaces on 29 September 2022 approved the consolidation of the partnership interest of the company in Ahmedabad East Infrastructure LLP (AEI LLP) from 51.43% to 55.24% and profit sharing in AEI LLP from 94.25% to 98% upon acquisition of entire partnership interest of Arvind Infrabuild LLP in AILLP.Arvind SmartSpaces is India's corporate real estate development company, with approximately 26 million square feet of real estate development across the country. The company has real estate developments across Ahmedabad, Gandhinagar, Bangalore and Pune.
The company's consolidated net profit surged to Rs 7.24 crore in Q1 June 2022 as against Rs 2.50 crore in Q1 June 2021. Sales rose 123.60% to Rs 60.26 crore in Q1 FY23 over Q1 FY22.
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