300 per cent returns: This multibagger realty company adds new high-rise project in Bengaluru with a top-line potential of Rs 400 crore!
The stock is up by 45 per cent in 1 year, 85 per cent in 2 years and a whopping 300 per cent in 3 years.
Arvind Smartspaces Limited (ASL), one of India’s leading real estate developers, part of the Lalbhai group, today announced that it has signed a new residential apartment project in Bengaluru, with a total estimated saleable area of 4.6 lakh sq. ft. and a top-line potential of Rs 400 crore. This project is located in Bannerghatta Road, Bengaluru. The project is acquired on an outright basis under the HDFC Platform 2.
Bannerghatta is the fastest-growing residential micro-market in Bengaluru, located in the southern part of the city on SH87. It has excellent connectivity to the Bannerghatta Main Road, the IT/ITES belt in Electronic City, and hosts numerous IT companies and tech parks.
Bannerghatta is also close to extremely well-developed social and civic infrastructure, with multiple schools, hospitals, retail, residential, and commercial spaces nearby. Additionally, it is located close to picturesque hotspots such as MM Hills, The Bannerghatta National Park, St. Marks Cathedral, the Pearl Valley, ISKON Temple, and Meenakshi Mall.
Arvind SmartSpaces Limited plans to invest around Rs 1,000 crore in FY24, with a focus on Ahmedabad and Bangalore. The company is committed to maintaining financial discipline and aims to achieve a growth rate of 25-30 per cent over previous years. It is also focused on expanding its presence in Ahmedabad, Bangalore, Pune, and the Mumbai Metropolitan Region (MMR).
On Monday, shares of ASL surged 0.86 per cent to Rs 340.15 per share with an intraday high of Rs 353.75 and an intraday low of Rs 337.65. The shares of the company saw a spurt in volume by more than 1.77 times on BSE.
ASL is a Small-Cap company with a market cap of over Rs 1,500 crore. The stock is up by 45 per cent in 1 year, 85 per cent in 2 years and a whopping 300 per cent in 3 years. Investors should keep an eye on this multibagger realty stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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