Arvind SmartSpaces: The ₹9,500 Crore Real Estate Play

Arvind SmartSpaces Ltd plans to launch projects worth ₹9,500 crore across Gujarat, Maharashtra, and Karnataka over the next four to five years. A substantial portion of this pipeline is expected to enter the market within the next 18 months, even as the broader residential real estate cycle begins to stabilise.

Gujarat accounts for the largest share of the upcoming portfolio, with ₹5,077 crore in planned launches, followed by Karnataka at ₹2,899 crore and Maharashtra at ₹1,520 crore. According to Managing Director and CEO Priyansh Kapoor, most of the projects are already under development, with some large-scale developments likely to be introduced in phases over the next 12–18 months. While the current inventory is heavily concentrated in Ahmedabad, the company expects a significant share of these assets to be monetised over the next four to five years through phased launches, sales, and construction.

However, despite its strong pipeline, the company has fallen short of its launch guidance for the current financial year, mainly due to slower regulatory approvals and staggered project rollouts. Against a target of ₹2,500 crore in launches, it has achieved about ₹500 crore so far. Kapoor noted that delays in approvals, particularly in Bengaluru, and phased execution of projects — including its industrial development and Vadodara project — have impacted timelines.

Looking ahead, the company aims to launch projects worth ₹1,500 crore in the fourth quarter of FY26 as it works to accelerate approvals and bring more inventory to market.

News by Rahul Yelligetti.