Arvind SmartSpaces' Devanahalli-based project records sales of Rs 180 crore at launch

Arvind SmartSpaces said has sold out the entire launched inventory of its residential plotted development project 'Arvind The Park' in Devanahalli, Bengaluru, which comprised of 200 units valued at over Rs 180 crore.

Arvind The Park is a residential development with a golf course. Residents are provided membership to Monogram by Arvind Lounges and Resorts, which contains various recreational and business amenities.

Devanahalli has emerged as one of the most desirable real estate addresses near the Bengaluru Airport with easy access to major hospitals, schools and prime locations within the city. The micro-market is also home to major economic hubs such as Aerospace SEZ and KIADB IT Park.

Arvind SmartSpaces entered the Bengaluru market in 2013 and has until now added 12 projects across the region with 6 projects having already been delivered and 6 in various stages of development/pre-launch.

Kamal Singal, managing director and CEO, Arvind SmartSpaces, said: We are thrilled to have received such a strong response from the Bengaluru homebuyers for Arvind The Park.

This is our third plotted project in Devanahalli following the success of Arvind Greatlands and Arvind Orchards.

We look forward to launching Arvind Orchards Phase 2, Devanahalli and our high-rise project at Bannerghatta in the upcoming quarters."

Arvind SmartSpaces (ASSL) is the real estate arm of Lalbhai group (flagship company - Arvind Limited). ASSL is primarily focused on the development of residential projects. It also undertakes commercial and industrial projects on a selective basis.

The company's consolidated net profit surged to Rs 47.74 crore in the quarter ended December 2024 as against Rs 9.40 crore during the previous quarter ended December 2023. Sales rose 149.30% to Rs 210.16 crore in Q3 FY25 as compared with Q3 FY24.

The scrip rose 0.64% to currently trade at Rs 705 on the BSE.

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