Smartworld Awards Rs 5.32 Billion Contract to Varindera Constructions

10 Feb 2025 CW Team

Smartworld, one of the fastest growing real estate players in Gurugram, has committed contracts worth approximately Rs 14 billion 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 Rs 5.32 billion. The project spans 6.9 acre and includes over 900 units in its first phase. Smartworld's total investment in the development of Sky Arc is approximately Rs 17 billion.

The company was in the news recently when they awarded Ahluwalia Contracts (India), 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 Vivek Singhal, CEO, Smartworld Developers.

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 Rs 15 billion, 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 Rs 200 billion, and 3 crore sq. ft. of development potential over the next five years.

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..