Arvind SmartSpaces to Develop Rs 600 Cr Housing Project in Bengaluru

New Delhi, Oct 9 (PTI) Realty firm Arvind SmartSpaces Ltd will jointly develop a housing project in Bengaluru with a revenue potential of Rs 600 crore.

In a regulatory filing, the company said it "has signed a new residential apartment project in Bengaluru, with a total estimated saleable area of around 4.2 lakh square feet and a top-line potential of around Rs 600 crore."

This project is located on ITPL road, near Whitefield, Bengaluru. The project is undertaken on a joint development basis.

This would be the company's 12th overall and eighth high-rise project in Bengaluru.

"Brand 'Arvind' continues to resonate strongly with homebuyers and landowners alike, as we look to further deepen our presence in the Bangalore market," Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, said.

"With this project addition, our cumulative new business development topline potential for the year stands at Rs 1,010 crore," he added.

Built on around 120-year-old legacy of the Lalbhai Group and established in 2008, Arvind SmartSpaces is one of the leading real estate developers headquartered in Ahmedabad.