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TL;DR: Smartworld bought six acres in Sector 98, Noida for ₹414 crore to build a ₹2,000 crore mixed-use project of branded residences, high-street retail and serviced homes.
The deal leverages Noida’s retail-office momentum and a strong, debt-free balance sheet as Smartworld pursues growth and an eventual IPO.
Smartworld’s Sector 98 acquisition: a strategic mixed-use play
Gurugram-based Smartworld Developers has acquired a 24,000 sq. meter (approximately six-acre) land parcel in Sector 98, Noida, through an auction for ₹414 crore. The company has outlined a comprehensive plan with an estimated development cost of ₹2,000 crore to deliver a mixed-use project combining branded residences, high-street retail and serviced homes — a program designed to generate an expected topline of roughly ₹3,000 crore.
The Sector 98 parcel enhances the city’s premium residential pipeline and pairs well with other nearby initiatives. It also complements product positioning exemplified by Smart World Sector 98 – premium residential apartments on Noida Expressway, helping Smartworld target buyers seeking branded living with strong retail connectivity.
Why Noida retail and office momentum matters
Noida’s robust demand for retail and office space strengthens the commercial case for the project. Developers are increasingly combining retail, F&B and serviced living to capture both resident and visitor spends — a trend visible in contemporary developments such as Orion One32 – retail & office spaces in Sector 132, Noida and major lifestyle centres like Sikka Mall of Noida – retail, office & food court spaces on Noida Expressway. These projects demonstrate how integrated retail and workspace can bolster footfall and rental yields for mixed-use schemes.
Company profile and financial strength
Smartworld reported strong operational momentum with consolidated sales of ₹6,400 crore for FY25, marking approximately 60% year-on-year growth. The developer has delivered 6.5 million sq. ft. to date and currently has ~20 million sq. ft. under development. With assets under management (AUM) around ₹40,000 crore and a debt-free balance sheet, the company is positioning itself for an eventual public listing.
Project implications and market outlook
- Product mix: Branded residences and serviced homes should attract premium buyers and short-stay guests, while high-street retail will capture local and highway-driven demand.
- Financials: A ₹2,000 crore development budget targeting ~₹3,000 crore topline suggests healthy margin potential if leasing and sales trajectory meet expectations.
- Timing & execution: With the company’s delivery track record and current development pipeline, timely approvals and strong sales/leasing will be critical to achieve projected returns.
For investors and occupiers watching Noida’s evolution, this acquisition signals continued appetite for large-format mixed-use developments that combine residential placemaking with curated retail experiences. As Smartworld moves from land acquisition to execution, the project will be a barometer for branded-residence demand and retail absorption along the Noida corridor.
What to watch next: approval timelines, launch schedule, unit mix and retail tenancy strategy, and the company’s plan for financing execution ahead of a possible IPO.
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