Arvind SmartSpaces Limited (ASL) announced today the acquisition of a 150-acre plot in Sanand, Ahmedabad, for a residential development project with an estimated revenue potential of ₹600 crore. The project, located on Sanand-Nalsarovar road, will have a saleable area of 6.6 million square feet.
The shares of Arvind SmartSpaces Limited (ASL) were trading at ₹669.70 down by ₹2.15 or 0.32 per cent on the NSE today at 10.35 am.
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The site is positioned 15 kilometers from Sanand and 30 kilometers from Nalsarovar Lake, near the Nalsarovar Bird Sanctuary. ASL acquired the land on an outright basis.
This acquisition brings ASL’s year-to-date project addition value to ₹4,450 crore, marking its biggest business development year, according to Kamal Singal, Managing Director and CEO of Arvind Smartspaces.
Part of the 120-year-old Lalbhai Group, ASL has developed approximately 106 million square feet of real estate across India since its establishment in 2008. The company currently operates in Ahmedabad, Gandhinagar, Bangalore, and Pune.
The Sanand-Nalsarovar region is experiencing growth due to its proximity to industrial hubs and improved connectivity, creating demand for horizontal real estate development. The project aims to balance ecological preservation with modern infrastructure development.