Arvind Smartspaces signs new housing project in B'luru

Bengaluru, NT Bureau: Realty firm Arvind SmartSpaces Ltd has signed a new housing project in Bengaluru having a sales potential of around Rs 400 crore.

This project has been acquired on an outright basis under the HDFC Platform 2. In a regulatory filing on Saturday, the company informed that "it has signed a new residential apartment project in Bengaluru, with a total estimated saleable area of nearly 4.6 lakh square feet and a top-line potential of nearly Rs 400 crore."

"Our diversification initiatives addressing both horizontal and vertical developments across Bengaluru and Ahmedabad are progressing well," Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, said.

The company has added this high-rise project to its portfolio and this will deepen its presence in a key micro market Bannerghatta in Bengaluru, he said, adding that this acquisition will further expand the company's presence in South Bengaluru.