Shares of Arvind SmartSpaces Ltd surged 3% to hit a day’s high of Rs 613 on 1st December. This occurred after the firm said on Friday (29th November) that it had acquired a new residential high-rise project in Vastrapur, Ahmedabad, with a total estimated saleable area of 2.6 lakh square feet.

The company said the project has a top-line potential of Rs 400 crore and has been acquired on an outright basis. This will be Arvind SmartSpaces’ 24th project in Gujarat.

The site is well connected, with access to metro routes, schools, hospitals, and key lifestyle hubs. It also offers quick connectivity to major business centres, such as Navratna Business Park and Pinnacle Business Park. In addition, it is near landmarks including IIM Ahmedabad, Vastrapur Lake Garden, and Nexus Ahmedabad One Mall.

CEO and whole-time director Priyansh Kapoor said the premium residential market remains strong. Moreover, the company plans to add more projects across Gujarat, Bengaluru, and MMR in the rest of the year.

At 1:59 PM, shares of Arvind SmartSpaces were trading 2.51% higher at Rs 609 on NSE.

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