Arvind SmartSpaces Enters Mumbai Redevelopment Market with Rs. 300 Crore Santacruz Project

Mumbai, March 27, 2026:

Arvind SmartSpaces Limited (ASL), the real estate arm of the prestigious Lalbhai Group, officially announced its entry into the Mumbai residential apartment market today with the signing of its first society redevelopment project in Santacruz (West). This strategic move marks the company’s debut in the high-stakes redevelopment segment and represents its second overall project in the Mumbai Metropolitan Region (MMR). The new venture is estimated to have a top-line potential of approximately Rs. 300 crore, featuring a total saleable carpet area of 42,000 sq. ft.

The addition of the Santacruz project significantly bolsters the company’s growth trajectory, bringing its cumulative new business development top-line potential for the year to approximately Rs. 3,140 crore. Situated in a prime micro-market, the site boasts exceptional connectivity via the Western Railway line, the Western Express Highway, and the Chhatrapati Shivaji Maharaj International Airport. The location also benefits from the Santacruz–Chembur Link Road, providing critical east-west linkages that connect the area to major commercial hubs like the Bandra-Kurla Complex (BKC).

Priyansh Kapoor, Managing Director and CEO of Arvind SmartSpaces, emphasized the importance of this expansion for the company’s long-term strategy in the region. “This project addition is an important milestone in our Mumbai portfolio journey. MMR is a strategically important market for us, and redevelopment offers a compelling opportunity. The signing highlights our brand strength as society redevelopment space necessitates credibility. We are very excited to partner with the society members to deliver a landmark project,” Kapoor stated.

Looking ahead, Arvind SmartSpaces intends to leverage its 128-year Lalbhai Group legacy and a strong balance sheet to scale its operations within the MMR. The company, which currently manages over 110.7 million square feet of real estate across major Indian cities including Ahmedabad, Bengaluru, and Pune, views the Santacruz project as a foundational step in building a robust portfolio of premium residential assets in the Mumbai market.

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