Arvind Smartspaces gains after acquiring residential project in Ahmedabad

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Arvind Smartspaces added 2.72% to Rs 609.05 after the company has acquired a new residential high-rise project in Vastrapur, Ahmedabad with a total estimated saleable area of approximately 3.6 lakh sq. ft.

The said project has top line potential of Rs 400 crore. The project has acquired on an outright basis. The area offers quick access to business hubs like Navratna Business Park and Pinnacle Business Park, as well as popular hotspots such as the IIM Ahmedabad, Vastrapur Lake Garden and Nexus Ahmedabad One Mall, making it a highly desirable location for residential development.

Priyansh Kapoor, CEO and whole time director, Arvind SmartSpaces said: Our diversification initiatives addressing both horizontal and vertical developments across our core geographies are progressing well. We are delighted to announce a premium residential apartments project after over a decade in West Ahmedabad. Vastrapur is one of Ahmedabads most promising micro-markets for premium residential apartments, and this acquisition will expand the company's presence in West Ahmedabad.

The optimism in the premium residential market remains strong and we look forward to adding new projects across Gujarat, Bengaluru and MMR during the remainder of the year.

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

The companys consolidated net profit fell 65.2% to Rs 14.18 crore on 47.1% decline in net sales to Rs 140.51 crore in Q2 FY26 over Q2 FY25.

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