Arvind SmartSpaces Limited has informed the Exchange about Acquisition
ARVSMART · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Arvind SmartSpaces' wholly-owned subsidiary, Arvind Skyline Private Limited (ASPL), acquired 49% of Oxford Navrang Realtors Pvt. Ltd. (ONRPL) for Rs. 49,000 (cash consideration of Rs. 10 per share), expanding its real estate portfolio. Separately, the company sold 13% of its stake in ASPL to Mr. Khetshi Barot and Mr. Kaushal Agarwal for Rs. 13,000, reducing its holding in ASPL from 100% to 87%. The acquisition aligns with the company's existing real estate development business. A media release attached confirms this relates to Arvind SmartSpaces signing its largest high-rise residential project in Goregaon (West), Mumbai, with a top-line potential of approximately Rs. 2,400 crore and a saleable carpet area of about 0.67 million sq. ft. ONRPL is a newly incorporated entity (July 2025) with nil turnover, and the transactions are not related party transactions.
The deal expands Arvind SmartSpaces' Mumbai footprint with a large high-rise project, supporting future revenue growth. The dilution of ASPL to 87% is minor and unlikely to materially impact the parent company's financials.