Surat :Arvind SmartSpaces Limited (ASL), one of India’s leading real estate development companyhas delivered a strong business growth over past several years.The Company reported a 38% growth in bookings and 46% growth in collections compounded across the five years ending FY24. contributing to a total Gujarat portfolio of 68.8 million square feet (msf), which includes 13 msf in Surat and the remainder in Ahmedabad.
Mr. Kamal Singal, Managing Director and CEO, Arvind SmartSpaces reflected on the company’s transformative journey in Gujarat saying that“We are quite optimistic about the Gujarat residential market and are excited to developseveral large golf themed townships there.We now have ~69 msf of projects in the Gujarat region across Ahmedabad, Gandhinagar and Surat.
Arvind SmartSpaces had added one project in Surat in FY24, which is expected to be launched in FY25. This project marks the entry of ASL into the high potential Surat market. This will be the third city in Gujaratapart from Ahmedabad and Gandhinagar. Surat is a well-established business hub and has emerged as one ofthe promising markets for plotted development /weekend homes in Gujarat. The project location has a well-developedconnectivity with various parts of Surat with close proximity to the industrial cities of Ankleshwarand Bharuch. The project is envisaged to be first large-scale plotting project in Surat with a golf course, largeclubhouse, orchards with several thousand full grown trees and a private lake.
In its Gujarat-specific expansion plans, Arvind Smartspaces is focusing on strategic investments in Ahmedabad and Surat. Out of the total ₹2,500 crore worth of new launches planned in FY25, ₹1,500 crore will be concentrated in Ahmedabad and Surat. From the ₹5,500 crore business development pipeline, the company anticipates that ₹1,200 to ₹1,500 crore will be from Gujarat in FY25.
