Shares of Arvind SmartSpaces Ltd surged 2.5% to touch a day’s high of Rs 606 on 16th December after the company said on Monday, 15th December, that it has acquired a new high-rise residential project in Whitefield, Bengaluru. The project has an estimated saleable area of around 4.6 lakh square feet and a topline potential of Rs 550 crore. The acquisition has been made on an outright basis.

The project is located in Nallurahalli, Whitefield, Bengaluru. It follows Arvind SmartSpaces’ earlier acquisition of a high-rise project on ITPL Road in FY25. Whitefield remains one of Bengaluru’s most active real estate markets. This is driven by strong demand from professionals and families looking for premium housing.

Over the years, Whitefield has grown into a major residential and commercial hub. Its proximity to large IT parks, multinational companies, and well-developed social infrastructure has contributed to this growth. With this deal, Arvind SmartSpaces now has nine high-rise projects in Bengaluru. Since entering the city in 2013, the company has added 13 projects. Of these, six have been completed, and seven are at various stages of development or pre-launch.

Commenting on the acquisition, Priyansh Kapoor, CEO and Whole Time Director of Arvind SmartSpaces, said, “We are pleased to add another high-rise project in Bengaluru, strengthening our vertical development portfolio.” He added that this is the firm’s second project in Whitefield. It aligns with its strategy of focusing on premium developments in high-demand micro-markets to drive long-term value creation.

At 2:08 PM, shares of Arvind SmartSpaces were trading 2.12% higher at Rs 598.90 on NSE.

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