Shares of Arvind Smartspaces Ltd. surged by 18.33% to ₹892.80 on the NSE as of 1:49 PM, following a Buy call from Axis Securities, which projects a 43% upside with a target price of ₹1,085 per share. The stock opened at ₹760.00, reached a high of ₹895.00, and touched a low of ₹736.00, with a previous close of ₹754.50.
Axis Securities initiated coverage on the company, highlighting its strong growth potential, supported by an asset-light model and its dominant presence in markets such as Ahmedabad and Bangalore. Arvind Smartspaces has expanded its project pipeline to 75.47 million sq ft, with approximately 72% of the projects utilizing a joint-venture-based asset-light approach, allowing for rapid project execution.
The company’s strategic focus on horizontal developments and expansion into new markets like Pune and Surat was also emphasized as key growth drivers. Additionally, Axis Securities pointed out Arvind Smartspaces’ strong cash flows, low leverage, and strategic partnerships, including its collaboration with HDFC, which positions the company for sustainable growth.
With a strong project pipeline and an expected 30%-35% business development (BD) growth, Axis Securities sees significant upside potential for investors.
