Shares of Arvind SmartSpaces Limited surged more than 12% after the company announced a major residential redevelopment project in Mumbai’s Goregaon (West), reinforcing its aggressive expansion in high-value urban markets.
The Lalbhai Group-backed developer has signed the project in partnership with Sigma Oxford Realtors, with an estimated top-line potential of around ₹2,400 crore. The development will span a saleable carpet area of approximately 0.67 million sq. ft., making it a sizable addition to the company’s growing portfolio in the Mumbai Metropolitan Region (MMR).
Located in Siddharth Nagar, Goregaon (West), the project will be a high-rise residential development, marking the company’s second such project in Mumbai and its third housing venture in the broader MMR region. The move highlights Arvind SmartSpaces’ strategic focus on redevelopment opportunities in premium micro-markets where demand visibility remains strong.
Goregaon West has emerged as a preferred destination for homebuyers in Mumbai’s western suburbs, particularly for those looking to upgrade. The area offers seamless connectivity via major routes such as the Western Express Highway, Link Road, and SV Road, while also being close to key commercial hubs. This combination has driven sustained demand, strong absorption levels, and steady price appreciation, making it a high-conviction market for developers.