Arvind SmartSpaces Ltd.’s shares went up by 16.63 per cent after the company reported signing two multi-use golf-themed development projects in Ahmedabad, covering an area of approximately 704 acres. The combined potential revenue from these projects is estimated to reach Rs. 2,300 crore. ASL will execute both projects under the joint development model, ensuring higher returns with low capital intensity.
The first project, a joint development venture spanning 500 acres in South Ahmedabad, boasts a revenue potential of Rs 1,450 crore. The second project, spanning acres in the same region, is estimated to generate Rs 850 crore in revenue.
The shares of the company went up by 14.84 per cent to Rs 401.25 at close . on BSE.