Mumbai, January 24, 2025 – Arvind SmartSpaces Limited (NSE: ARVSMART, BSE: 539301) has announced its entry into the Mumbai Metropolitan Region (MMR) with a ₹1,500 crore horizontal township project near Khopoli. This 92-acre joint development project, part of the emerging Mumbai 3.0 corridor, marks a strategic expansion for the company into one of India's fastest-growing real estate markets.
Project Highlights
- Location: Near Khopoli, Mumbai 3.0, a high-potential growth corridor.
- Project Model: Joint Development Agreement (JDA) with 70.5% revenue share, ensuring low capital investment and higher returns.
- Infrastructure Boost: Proximity to Atal Setu, Navi Mumbai International Airport, Virar-Alibaug Corridor, and Mumbai-Pune-MTHL Interchange, enhancing connectivity.
- Development Features: Premium plotted developments, villas, and high-end amenities, including a golf course and clubhouse.
Strategic Expansion & Future Growth
The move aligns with Arvind SmartSpaces' geographic diversification strategy, expanding beyond its existing Gujarat, Karnataka, and Maharashtra markets. With this project, the company's new business development topline potential reaches ₹2,500 crores for FY25, signalling strong growth momentum.Kamal Singal, Managing Director & CEO of Arvind SmartSpaces, stated:
"This is a significant milestone in our expansion journey. MMR offers immense potential for plotted and villa developments, and we are confident this project will redefine horizontal real estate in the region. In the coming quarters, we aim to introduce more projects in MMR, Ahmedabad, and Bengaluru."