Smartworld Awards Rs 532 Cr Contract to Varindera for Gurugram Project

New Delhi, Feb 10 (PTI) Real estate company Smartworld Developers has awarded Rs 532 crore contract to Varindera Constructions for its upcoming project in Gurugram.

In a statement on Monday, the company said it has awarded contracts worth about Rs 1,400 crore for its various projects in just six months.

"For its upcoming iconic project, Smartworld Sky Arc, the company has awarded the construction mandate to Varindera Constructions Limited for Rs 532 crore.

"The project spans 6.9 acres and includes over 900 units in its first phase. Smartworld's total investment in the development of Sky Arc is approximately Rs 1,700 crore," it said.

Varindera Construction has a good track record in the construction sector, Vivek Singhal, CEO of Smartworld Developers, said.

Incorporated in 2021, Smartworld Developers, which is part of M3m India Group, is developing many projects in Gurugram. It aims to deliver possession of about 50 lakh square feet in the next few months.