Arvind SmartSpaces Ltd Company Summary

Arvind SmartSpaces Ltd Summary

Arvind SmartSpaces Limited was formerly incorporated as Arvind Infrastructure Limited on December 26, 2008 in Ahmedabad as a wholly owned subsidiary of Arvind Limited. The name of the Company was changed to Arvind SmartSpaces Limited from Arvind Infrastructure Limited with effect from 16th November, 2016. The Company was incorporated with the aim of doing real estate/ infrastructure development business. The Company is engaged in the development of real estate comprising of residential, commercial and industrial projects.In 2010, the Company entered into JV with Bsafal for construction of high rise residential apartment project in eastern Ahmedabad. In 2011, it made successful delivery of of first residential project- Alcove. In 2012, the Companys first project was launched in Bengaluru. The Company entered into MOU for premium low rise golf centric villa township project Uplands in western Ahmedabad. In 2014, it became became first real estate developer in Gujarat to partner with Disney for project Uplands. The Real Estate Division of Arvind Limited was demerged into the erstwhile Company, Arvind Infrastructure Limited through the Scheme of Arrangement for Demerger in 2015-16. In terms of the said Scheme of Demerger, the equity shares of the Company were consolidated from 10 equity shares of face value Re 1 each to 1 equity share of face value of Rs 10 (ten) each. 1 equity share of the Company was allotted for every 10 equity shares of Arvind, to the shareholders of Arvind by issuing 2,58,24,307 equity shares of Rs 10 each to the shareholders of Arvind. The equity shares of the Company got listed on 26th August, 2015 on BSE Limited, National Stock Exchange of India Limited and Ahmedabad Stock Exchange Limited.The Company launched new projects namely Forreste, Uplands Two Monogram Living and Bel Air in 2019-20. Skylands, Sporcia, Expansia, Alcove, Megatrade, Citadel, MegaPark and MegaEstate were launched in 2020-21. It launched additional phase in Forreste; launched Chirping Woods and added additional area in Uplands Two in 2021-22. In 2021-22, it launched Oasis, Sporcia, Parishkar / Trade Square, Aavishkaar. The Company launched its first plotting project Arvind Greatlands in Devanahalli, Bangalore in 2023. It further launched 3 projects including Arvind Greatlands, Fruits of Life in Ahmedabad and Forreste 5 in 2022-23.The Company launched 4 projects including Uplands 2.0 & 3.0, Forest Trails, Arvind Orchards and Rhythm of Life which contributed 71% (Rs. 784 Cr) in annual bookings value in FY 2024. The Companys Arvind Orchards launch in Bengaluru sold the entire first phase of inventory of Rs. 163 Cr within seven hours. The Companys launch of Rhythm of Life and Laxmanpura at the end of March, 2024, achieved sales of over Rs. 70 Cr, accounting for 75% of the inventory. The Companys Forest Trails launch in Sarjapur (Bengaluru), featuring premium 5 BHK villas, generated sales of over Rs. 154 Cr in the first phase, clearing over 30% of the launched inventory. the Company acquired a 43-acre high-rise project in Bengaluru with a projected revenue potential of Rs. 400 Cr covering a saleable area of 4.6 Lac square feet. Company entered the Surat realty market with a 300 acre horizontal multi-asset township project possessing a revenue potential of Rs. 1,100 Cr (joint development model with 55% revenue share).