As per the bulk deal data on the BSE, Quant Mutual Fund purchased 5 lakh shares, or 1.18% equity, of Arvind SmartSpaces at Rs 228.5 each on Tuesday (6 September 2022).

Meanwhile, Kamal Shamlal Singal sold 6 lakh shares, or 1.41% equity, of the company at Rs 228.5 each.

As on June 2022, Kamal Shamlal Singal held 6,94,744 shares, or 1.64% stake in the company.

Arvind SmartSpaces is India's corporate real estate development company, with approximately 26 million square feet of real estate development across the country. The company has real estate developments across Ahmedabad, Gandhinagar, Bangalore and Pune.

The company's consolidated net profit surged to Rs 7.24 crore in Q1 June 2022 as against Rs 2.50 crore in Q1 June 2021. Sales rose 123.60% to Rs 60.26 crore in Q1 FY23 over Q1 FY22.

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The company has incorporated a wholly owned subsidiary named 'Arvind SmartHomes' to house the projects to be acquired under this platform wherein Arvind SmartSpaces (as the promoter) and HDFC Capital Advisors as Investment Manager of HDFC Capital Affordable Real Estate Fund - 3 (HCARE -3), shall make investments of Rs 300 crore and Rs 600 crore, respectively, from time to time for acquisition and construction of real estate projects in India.

The platform will create an overall revenue potential of upto Rs 5,000 crore excluding reinvestment potential. Over the next 12 months, 6-7 projects are expected to be acquired through this platform.

Kulin Lalbhai, Non-Executive Director, Arvind SmartSpaces Limited added “With increased consolidation and formalisation of industry, Indian real estate market presents a tremendous opportunity.

The sizeable funds being invested by this platform bring in an orbital change in the scale of operations and the new project pipeline of the company. I am sure this platform along with the Arvind SmartSpaces team will ensure our company's sustained success and lead it to newer heights.”

ASL's strategic alliance with HDFC Capital Advisors began in the year 2019. ASL had entered a strategic partnership with HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1) — a fund managed by HDFC Capital Advisors, a subsidiary of HDFC. The partnership was set-up with a focus on the development of affordable and mid-income housing projects in India.

The relationship further deepened in 2021, with a preferential issue to HDFC Capital Advisors wherein H-CARE 1 subscribed to 8.8% equity stake in ASL on a fully diluted basis.

Arvind SmartSpaces is India's corporate real estate development company, with approximately 26 million square feet of real estate development across the country. The company has real estate developments across Ahmedabad, Gandhinagar, Bangalore and Pune.

The company's consolidated net profit surged to Rs 7.24 crore in the quarter ended June 2022 as against Rs 2.50 crore during the previous quarter ended June 2021. Sales rose 123.60% to Rs 60.26 crore in Q1 FY23 over Q1 FY22.

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Arvind SmartSpaces has incorporated the wholly owned subsidiary namely Arvind SmartHome on 12 August 2022. The subsidiary shall be in the business of construction and development of real estate projects.

The subsidiary is intended to independent platform wherein Arvind SmartSpaces (as promoter) and HDFC Capital Advisors as Investment Manager of HDFC Capital Affordable Real Estate Fund - III (HCARE - III), shall make investments from time to time for acquisition and construction of real estate projects.

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Net profit of Arvind SmartSpaces rose 189.60% to Rs 7.24 crore in the quarter ended June 2022 as against Rs 2.50 crore during the previous quarter ended June 2021. Sales rose 123.60% to Rs 60.26 crore in the quarter ended June 2022 as against Rs 26.95 crore during the previous quarter ended June 2021.

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