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.

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