ArvindSmartSpaces to invest Rs 250 crore in 2019

ArvindSmartSpaces, the realty arm of fashion and apparel brand Arvind, Thursday said it plans to invest Rs 250 crore this year for acquiring and developing new projects across the country. The company is also exploring and evaluating other markets such as Hyderabad for potential opportunities, its CEO and managing director Kamal Singal said. "There is a strong and healthy project pipe line consistent with our growth expectations and plans which will hit the market in the coming quarters. We are launching residential project in Pune next month and our first commercial project is in Bengaluru in the next quarter. We are also evaluating other markets such as Hyderabad for potential opportunities," he said. In Pune, the company is developing a residential project 'ArvindElan' spread across two acres of land with a developable area of 1.5 lakh sqft, which will be completed in three years.