Kamal Singal, MD and CEO of Arvind Smartspaces stated that by the end of the first nine months, the company had already recorded nearly ₹900 crore in bookings.
While one of its projects in Bangalore is facing approval delays, the company remains optimistic about its launch. Once finalised, this is expected to help Arvind Smartspaces comfortably reach the upper end of its target.
The company has launched a new residential project in Ahmedabad, with a potential gross development value of ₹600 crore. Situated in Sanand, the project covers 150 acres and features a saleable area of 6.6 million square feet.
The company has also entered in Mumbai market with a project of developing a 92-acre horizontal multi-use project in the Mumbai Metropolitan Region (MMR). The project is located near Khopoli, Mumbai 3.0.
Singal said, “We are hoping that MMR project should be launched somewhere in the middle of next year, with the topline potential of around ₹1,500 crore.”
The company’s collections remain strong, with ₹229 crore recorded in the latest quarter, reflecting an 18% increase. For the year so far, total collections have reached ₹725 crore, marking a 10% rise compared to the previous year.
Arvind SmartSpaces remains optimistic about meeting its full-year collection target of approximately ₹1,000 crore, which was set at the beginning of the year.
Arvind Smartspaces’ current market capitalisation is ₹3,240 crore. Its shares have gained 19% over the last year.
Also Read | Nifty Realty gains as India’s residential real estate shows signs of improvement in Q3
