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Arkade Developers Purchases 4 Acre Land in Goregaon West

Written by: Team Angel OneUpdated on: Jan 29, 2025, 2:29 PM IST
Arkade Developers has acquired a four-acre land parcel in Goregaon West, Mumbai for ₹165 crores, planning a housing project while expanding in western Mumbai.
Arkade Developers Purchases 4 Acre Land in Goregaon West
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Arkade Developers has acquired a four-acre land parcel in Goregaon West, Mumbai, for ₹165 crore. The land, currently leased to Filmistan Pvt Ltd, was purchased from Aspen Properties Pvt Ltd and Kamanwala Housing Construction Ltd. The company has paid a stamp duty of ₹9.9 crore for the transaction.

Plans for Luxury Housing Project

Arkade Developers plans to develop a luxury residential project on this land, with a saleable area exceeding 5 lakh sq ft. The estimated revenue from this project is expected to be around ₹2,000 crore. The company stated that the site, previously home to a historic studio, has a plot area of approximately 16,200 square metres.

Expansion in Western Mumbai

In addition to this acquisition, Arkade Developers has taken up three redevelopment projects in Mumbai’s western suburbs including Andheri East, Malad West, and Borivali West. Together, these projects span around five acres with a total saleable carpet area of 5.85 lakh sq ft, expected to generate ₹2,150 crore in revenue.

  • Andheri East Project: 1.29 lakh sq ft, estimated revenue of ₹527 crore
  • Malad West Project: 2.12 lakh sq ft, estimated revenue of ₹750 crore
  • Borivali West Project: 2.44 lakh sq ft, estimated revenue of ₹865 crore

Financial Performance

Arkade Developers reported sales bookings of 1.79 lakh sq ft in the first nine months of FY25, amounting to ₹556 crore, a 24% increase year-on-year. In Q3 FY25, the company booked 74,000 sq ft, generating ₹220 crore, which is 93% higher year-on-year. Collections for Q3 stood at ₹178 crore, while total collections for the nine-month period reached ₹478 crore, showing a 16% growth.

As of January 29, 1:12 PM, Arkade Developers Ltd is trading at ₹151.92, up ₹6.00 (4.11%) today, but has declined 8.40% over the past six months and 11.54% in the last month.

Completed and Ongoing Projects

Arkade Developers has completed 31 projects covering 55 lakh sq ft so far, with 20 lakh sq ft under development. The company has also obtained four occupation certificates (OCs) in FY25 and is in the process of handing over 500 flats.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments are subject to market risks, read all scheme-related documents carefully.

Published on: Jan 29, 2025, 2:29 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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