Arvind SmartSpaces has accelerated its expansion in the Mumbai real estate market by announcing two redevelopment projects in Santacruz and Goregaon, with a combined estimated revenue potential exceeding ₹2,700 crore.
These developments mark a significant step in strengthening the company’s footprint in the Mumbai Metropolitan Region (MMR).
On April 7, the company signed a redevelopment agreement for a residential high-rise project in Goregaon (West), with an estimated top-line potential of ₹2,400 crore and a saleable carpet area of 0.67 million sq ft.
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The project is being developed in partnership with Sigma Oxford Realtors, reflecting a collaborative approach to large-scale urban redevelopment.
Earlier, on March 27, Arvind SmartSpaces entered into its first society redevelopment project in Santacruz, marking its entry into this segment. The project has an estimated revenue potential of ₹300 crore and a saleable carpet area of approximately 42,000 sq ft. This also represents the company’s first residential apartment project in MMR and its second project overall in the region.
To date, the company has announced three projects in MMR, including its January 2025 foray through a 92-acre township near Khopoli, developed in partnership with Sach Developers. This township carries an estimated revenue potential of ₹1,500 crore and follows a joint development model with a 70.5% revenue share, ensuring low capital intensity and higher returns. The project is expected to include a villa development, golf course, and clubhouse.
“We are beginning the new financial year on a strong footing, as we add our largest project to date in the portfolio. Our approach in MMR has been calibrated, focusing on asset-light structures, partnering with the right stakeholders, and entering micro-markets where demand visibility and execution feasibility are high," said Priyansh Kapoor, Managing Director and CEO, Arvind SmartSpaces.
"High-rise developments are an important part of our portfolio expansion strategy, and with this being our second vertical project in Mumbai, we are steadily building capabilities and presence in this segment," Kapoor said.
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Mumbai has recently witnessed increased interest from outstation developers, including DLF Limited, Prestige Group, and Puravankara Limited, all actively expanding in MMR. This trend highlights Mumbai’s continued appeal as a high-growth real estate market attracting nationwide investment.
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