Arvind SmartSpaces Limited announced that it has successfully concluded its first platform with HDFC Capital Affordable Real Estate Fund - 1. ASL had entered into a strategic partnership with HCARE-1 in 2019 with an investment potential of INR 250 million. A partial commitment was made from this platform in a project 'Arvind Greatlands' with a revenue potential of about INR 400 million. The funds invested by HCARE-1 have been repaid in full from the project cash flows driven by strong sales momentum and collections from the project.

Meanful returns delivered to both the entities HCARE-1 and ASL, highlight the platform objectives. Owing to the success of project, HDFC Capital Affordable Real Estate fund - 3 ("HCARE - 3") and ASL created the second platform of INR 900 million in 2022 which continues to progress well and strengthen the strategic relationship between the two companies.