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The project is acquired on an outright basis, the company stated. This project is located in Sanand-Nalsarovar road, Ahmedabad. It is located approximately 15 km from Sanand and 30 km from Nalsarovar Lake. Kamal Singal, managing director and CEO, Arvind Smartspaces, said: We are happy to announce the acquisition of this residential plotted development project in the high potential Sanand-Nalsarovar market of Ahmedabad. The Ahmedabad region continues to offer compelling growth opportunities for horizontal real estate, driven by strong infrastructure development and a thriving industrial ecosystem. With this acquisition, our year-to-date (YTD) project addition value now stands at Rs 4,450 crore, making it our biggest ever business development year.' Arvind SmartSpaces (ASSL) is the real estate arm of Lalbhai group (flagship company - Arvind Limited). ASSL is primarily focused on the development of residential projects. It also undertakes commercial and industrial projects on a selective basis. The company's consolidated net profit surged to Rs 47.74 crore in the quarter ended December 2024 as against Rs 9.40 crore during the previous quarter ended December 2023. Sales rose 149.30% to Rs 210.16 crore in Q3 FY25 as compared with Q3 FY24. The scrip fell 1.64% to currently trade at Rs 661.70 on the BSE. Powered by Capital Market - Live News
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