Arvind SmartSpaces is focusing on Surat real estate and expects a 35% increase in income in FY24.
The dynamic Surat real estate market is becoming more and more of a priority for the Ahmedabad-based real estate company, according to CEO and MD Kamal Singal.
Arvind SmartSpaces, a real estate company, plans to increase sales by 30–35% both in the current fiscal year and the following few.
The company is progressively concentrating on the thriving Surat real estate sector, according to MD and CEO Kamal Singal, in an interview with CNBC-TV18 following the results.
Singal says, “Surat is a very exciting market. In fact, a few quarters back we did mention that Surat is one of our focus areas. And lot of efforts went into this market, we take a little bit of a time before we analyse and we get the right kind of opportunity. And for us, it's important to go deeper into the market that you want to go rather than doing one or two projects here and there".
The business, which is based in Ahmedabad, has launched a ₹1,100 crore horizontal multi-asset township project in Surat. According to the company's investor presentation, the project's 300 acres of land and collaborative development strategy (55% revenue share) allow for low capital intensity and higher profits that fosters the city's real estate growth. ASL will now operate in three cities in Gujarat: Ahmedabad, Gandhinagar, and this one.
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