Arvind SmartSpaces (ASL) stock surged 4.74 per cent on the NSE, trading at ₹596.35. The real estate development company has sold out the entire inventory released for sale in the 1st phase of its residential development project, Arvind Orchards in Devanahalli, Bengaluru.
As per the company’s statement, it consisted of more than 220 units valued over ₹160 crore. The project is housed under HDFC Platform 2. The company had entered the Bengaluru market in 2013 and has added 11 projects till date across different micro-markets in the city.
Commenting on the launch, Kamal Singal, Arvind SmartSpaces’ Managing Director and CEO, said, “We have been able to create a strong presence in Bengaluru market with a focus on designs that are inspired by the evolving preferences of our customers.”