Arvind SmartSpaces Signs Largest Mumbai High-Rise Project with Rs. 2,400 Cr Top-Line Potential
Arvind SmartSpaces signed its largest high-rise project in Goregaon (West), Mumbai, with a top-line potential of ₹2,400 Cr. The company's subsidiary acquired a 49% stake in Oxford Navrang Realtors for ₹49,000. ASL also sold a 13% stake in its subsidiary, Arvind Skyline Private Limited, for ₹13,000.
The project is described as the company's largest to date in Mumbai, with a significant revenue potential (₹2,400 Cr), and involves strategic stake acquisitions and sales, which are material events for the company.
The announcement details the signing of a significant new project with a substantial revenue potential and strategic acquisitions/divestitures, indicating business growth and expansion.
Arvind SmartSpaces Limited (ASL) has announced the signing of its largest high-rise residential project to date in Goregaon (West), Mumbai. The project, a joint redevelopment in Siddharth Nagar, boasts a top-line potential of approximately ₹2,400 crore and a total saleable carpet area of approximately 0.67 million sq. ft. This development is undertaken in partnership with Sigma Oxford Realtors.
This project marks ASL's third housing venture in the Mumbai Metropolitan Region (MMR) and second high-rise project in the city, reinforcing its strategic expansion in the region. Goregaon (West) is highlighted as a sought-after micro-market due to its connectivity and proximity to commercial hubs, showing sustained demand and price appreciation.
Arvind Skyline Private Limited (ASPL), a wholly-owned subsidiary of ASL, has acquired a 49% stake in Oxford Navrang Realtors Pvt. Ltd. (ONRPL) for a consideration of ₹49,000. Concurrently, ASL has divested a 13% stake in its subsidiary, ASPL, to Mr. Khetshi Barot and Mr. Kaushal Agarwal for ₹13,000, retaining an 87% ownership in ASPL. ONRPL, incorporated on July 4, 2025, is in the real estate development business with a reported nil turnover as of March 31, 2026. ASPL, incorporated on December 29, 2025, had a nil contribution to turnover or net worth in the last financial year.
Priyansh Kapoor, Managing Director and CEO of Arvind SmartSpaces, commented that the company is starting the new financial year strongly by adding its largest project. He emphasized their calibrated approach in MMR, focusing on asset-light structures and strategic partnerships in high-demand micro-markets. He also noted that high-rise developments are crucial to their portfolio expansion strategy.
The acquisition of ONRPL and the sale of stake in ASPL were executed via Share Purchase Agreements and Shareholders’ Agreements dated April 6, 2026. The acquisition is expected to be completed within one month from the agreement date. The buyers of the ASPL stake are not related to the promoter group, and the transactions are considered arm's length.
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Arvind SmartSpaces Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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