Smartworld Awards ₹532-Cr Sky Arc Contract to Varindera Constructions

Gurugram, February 10, 2025: Real estate player Smartworld has committed contracts worth approximately INR 1,400 crore for its various projects in just six months. For its upcoming iconic project, Smartworld Sky Arc, the company has awarded the construction mandate to Varindera Constructions Limited for INR 532 crore. The project spans 6.9 acres and includes over 900 units in its first phase. Smartworld’s total investment in the development of Sky Arc is approximately INR 1,700 crore.

The company was in the news recently when they awarded Ahluwalia Contracts (India) Ltd., the mandate for Smartworld The Edition.

Smartworld Sky Arc is inspired by the iconic Marina Bay Sands. The project had a historic launch with units being sold out within 36 hours of launch. Ever since its launch, the project has appreciated by over 20 per cent.

“We are delighted to have VCL on board to construct Sky Arc. VCL has had a good track record, and we are confident that their expertise will play a significant role in realising our vision for Sky Arc,” said Smartworld Developers CEO Vivek Singhal.

Vivek Garg, Managing Director & CEO, Varindera Constructions Limited said, “We are honoured to collaborate with Smartworld Developers on the prestigious ‘Sky Arc’ project. Our team is committed to delivering exceptional quality and craftsmanship that aligns with Smartworld’s vision of redefining the standards of luxury living.”

Varindera Constructions has a turnover of INR 1,500 crore, with many reputed projects in their portfolio. Construction of Smartworld Sky Arc is set to commence in Q1 2025, with completion expected within five years. Meanwhile, Smartworld is getting ready to deliver 5 million sq. ft of its inaugural projects – Smartworld Orchard and Smartworld Gems.

The company has over 6,000 satisfied customers, assets worth INR 20,000 crore, and 3 crore sq. ft. of development potential over the next five years.