Arkade Developers Gains 4% as Promoter Buys 1 Lakh Shares; Secures ₹740 Crore Mumbai Project

Arkade Developers share price climbed 4.4% on the BSE, reaching an intraday high of ₹158.55. The rise came after the company’s promoter and director, Amit Mangilal Jain, purchased 1,00,000 shares through an open market transaction. This purchase represents 0.05% of the company’s total paid-up capital.

By 12:29 PM, the stock was trading 2.17% higher at ₹155.15, while the BSE Sensex was down 0.18% at 73,981.15. The company’s market capitalisation stood at ₹2,880.57 crore. The stock’s 52-week high is ₹190, while the 52-week low is ₹128.3.

Promoter’s Stake in Arkade Developers

As per the latest shareholding data for the quarter ending December 31, 2024, Amit Mangilal Jain held a 66.33% stake in the company.

New Redevelopment Project in Mumbai

Arkade Developers recently secured redevelopment rights for a housing society in Malad West, Mumbai. The company expects this residential project to generate revenue of ₹740 crore.

In a regulatory filing, Arkade Developers stated it has acquired redevelopment rights for “Nutan Ayojan,” a co-operative housing society. This project covers 6,858.90 square meters and has a Gross Development Value (GDV) of approximately ₹740 crore.

The project will have a total RERA saleable carpet area of 2.33 lakh square feet, offering 408 homes. Out of these, 215 units will be available for sale, further expanding the company’s residential and commercial presence in Mumbai.

Arkade’s Growth Strategy

Amit Jain, Chairman and Managing Director of Arkade Developers, highlighted the company’s strategy to expand in high-growth micro-markets. This will be done through redevelopment projects, strategic acquisitions, and maximising the value of its land bank.

The company has completed 31 projects covering a total of 55 lakh square feet. Currently, over 20 lakh square feet are under development.

About Arkade Developers

Arkade Developers is a well-known real estate company focused on developing high-quality residential projects in Mumbai. With a strong track record, it has established itself as one of the city’s leading real estate firms.

Conclusion

Arkade Developers’ stock gained momentum following promoter buying and a new redevelopment project in Mumbai. With strategic expansions, the company aims for long-term growth.

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