Page 29 - Construction_Opportunities_January_2026

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Commenting on the launch, Vimalendra Singh, Chief Business Whole Time Director, Arvind SmartSpaces said: “We are happy
Officer – Residential, Mahindra Lifespace Developers Ltd., to add another high-rise project in Bengaluru, strengthening
said, “Bengaluru is a key market in our strategy to scale residential our vertical development portfolio in the city. This is our second
development across strong, end-user-driven cities. Mahindra acquisition in Whitefield, one of Bengaluru’s most premium CONSTRUCTION
Blossom reflects this focus by offering well-designed, sustainable residential real estate markets.
homes in a premium location. Whitefield continues to show It aligns with our strategic vision to deliver premium developments
steady absorption supported by connectivity improvements and in high-demand micro-markets, ensuring sustained end-user
a deep employment base. Our previous launches in Bengaluru interest and strong value creation.
have validated the brand’s strength with tremendous customer Brand ‘Arvind’ continues to resonate strongly with homebuyers
response and we are confident that Mahindra Blossom will build and landowners alike, as we look forward to adding new projects
on that momentum.” across Gujarat, Bengaluru and MMR during the remainder of the
Strategically located abutting the Hopefarm Channasandra year.”
metro station, Mahindra Blossom offers unmatched access
to Bengaluru’s key IT & employment hubs. The development is JSW PAINTS COMPLETES THE ACQUISITION PROCESS OF
surrounded by top schools, colleges, hospitals, entertainment AKZO NOBEL INDIA
hubs, and retail destinations within a 5 km radius, making it one JSW Paints Limited (“JSW Paints”) recently acquired a majority stake
of the most well-connected residential pockets in Whitefield. of 60.76% in Akzo Nobel India Limited (“ANIL”) from Akzo Nobel N.V.
The project offers 97,000 sq. ft. of amenities and clubhouse spaces, and its affiliates. JSW Paints had already acquired 0.44% stake
including Bougainvillea canopies, half-Olympic size swimming from the public shareholders of ANIL upon successful completion
pool, two jogging tracks, two badminton courts, a dedicated of an open offer and its stake now stands at 61.2% post today’s
pet park, and thoughtfully designed community spaces. High- acquisition.
street retail integrated within the development ensures daily JSW Paints is India’s fastest growing paints company and a part of
conveniences are always within reach. Every element is designed the US$ 23 billion JSW Group, India’s leading conglomerate with
to support active, holistic, and balanced living. diverse interests across a range of B2B and B2C sectors including
Mahindra Blossom is planned as a sustainable development, steel, cement, energy, infrastructure, automotive and paints.
pre-certified for IGBC Green Homes and IGBC Net Zero Waste, ANIL is one of India’s leading decorative and industrial paints
reflecting Mahindra Lifespaces’ long-standing commitment to players and was a part of Akzo Nobel, a global leader in
future-ready, environmentally responsible living. With its unique decorative paints and industrial coatings headquartered in the
combination of strategic location, design excellence, expansive Netherlands.
openness, and green certifications, the project embodies the This transaction positions JSW Paints as one of the major players
company’s mission of transforming urban landscapes through in the sector which is expected to see robust growth in the years
sustainable communities. ahead.
Sajjan Jindal. Chairman, JSW Group, said “I am happy to
ARVIND SMARTSPACES ADDS A NEW RESIDENTIAL welcome the AkzoNobel India team to the JSW Family. We have
HIGH-RISE PROJECT IN BENGALURU WITH A TOP-LINE always believed that India deserves paints and coatings that are
POTENTIAL OF `550 CRORE trusted and world-class. With Dulux, we are proud to bring global
Arvind SmartSpaces Limited (ASL), one of India’s leading real quality to homes and industries across India. Together, there is an
estate development companies, part of the Lalbhai group, today incredible opportunity here to build a stronger, brighter and more
announced that it has acquired a new residential high-rise project colorful future for our customers and for India.”
in Whitefield, Bengaluru with a total estimated saleable area of Parth Jindal, Managing Director of JSW Paints, said “We are
~4.6 lakh sq. ft. and a top-line potential of ~ `550 crore. The delighted to welcome Akzo Nobel India into the JSW family. This
project is acquired on an outright basis. is a historic occasion, as it marks one of the largest acquisitions
This project is located in Nallurahalli area in Whitefield, Bengaluru. in India’s paints and coatings market. Together, along with the
This addition follows the acquisition of the ITPL road high-rise Akzo Nobel India family - employees, customers and partners
project signed in FY25. Whitefield continues to be one of the most - we aspire to build the paint company of the future. With the
dynamic real estate markets in Bengaluru, consistently attracting Magic of Dulux and Thoughtfulness of JSW Paints, we look
strong demand from professionals and families seeking premium forward to delighting customers and building lasting value for our
living spaces. Over the past decade, the region has evolved into stakeholders.”
a premier residential and commercial hub, driven by its proximity Greg Poux-Guillaume, CEO of AkzoNobel, said “Today’s closing is
to major IT parks, global corporations, and a thriving social an important step in sharpening our strategic focus and positioning
infrastructure. AkzoNobel for long-term value creation. We are grateful to our
This would be ASL’s 9th high rise project in Bengaluru. Arvind colleagues in India for their many contributions and are pleased
SmartSpaces entered the Bengaluru market in 2013 and has until to see the business transition to JSW, a strong and committed
now added 13 projects across the region with 6 projects having partner in the region’s fast-growing paints and coatings market.”
already been delivered and 7 in various stages of development/ Morgan Stanley acted as the exclusive financial advisor to JSW
pre-launch. Paints on this transaction. Khaitan & Co. acted as the legal advisor.
Commenting on this development, Priyansh Kapoor, CEO and Deloitte acted as the financial and tax due diligence advisor.

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