Arvind SmartSpaces Limited has announced its foray into the Mumbai residential market with a society redevelopment project in Santacruz, boasting a top-line potential of approximately ₹300 crore. This marks the company’s first residential apartment project in the Mumbai Metropolitan Region (MMR) and its second project in the area. The project is strategically located in Santacruz (West), offering excellent connectivity via north-south arterial roads linking Bandra, Khar, Santacruz, Vile Parle, and Andheri. It also benefits from strong multimodal access through the Western Railway line, proximity to the Western Express Highway, and quick connectivity to the Chhatrapati Shivaji Maharaj International Airport. Additionally, improved east-west linkages are provided through the Santacruz-Chembur Link Road.
The development is expected to drive strong end-user and rental demand, given its central location between key residential, commercial, and retail hubs, including the Bandra-Kurla Complex. This makes it a high-potential residential corridor with sustained capital appreciation. The project adds to Arvind SmartSpaces‘ cumulative new business development top-line potential for the year, which now stands at approximately ₹3,140 crore.
Commenting on the development, Priyansh Kapoor, Managing Director and CEO of Arvind SmartSpaces, stated, “This project addition is an important milestone in our Mumbai portfolio journey. MMR is a strategically important market for us, and redevelopment offers a compelling opportunity. The signing highlights our brand strength as society redevelopment space necessitates credibility. We are very excited to partner with the society members to deliver a landmark project.”
Arvind SmartSpaces is positioning itself to build a strong portfolio of projects in Mumbai, leveraging its brand, execution track record, and strong balance sheet to scale in the MMR over the medium term.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).