India-based Arvind SmartSpaces, a real estate development arm of textile manufacturer Arvind, announced that it intends to inject 250 crore rupees ($35.4 million) this year for purchasing and developing new projects across the country.
Arvind SmartSpaces said that it is analyzing and evaluating other markets like Hyderabad for potential opportunities.
The company is establishing a residential project, Arvind Elan, on two acres of land with a developable area of 1.5 lakh square feet in Pune, anticipated being wrapped up in three years.
In Bengaluru, Arvind SmartSpaces, which is targeting revenues of $142 million in the next four years, has prepared 2.5 lakh square feet of commercial development.