The company will launch a project in Thane with an estimated revenue potential of Rs 2,000 crore in FY2026
Realty firm Arkade Developers Ltd will invest Rs 570 crore to develop a luxury real estate project in Mumbai. The project "Arkade Rare" is spread over 3 acres and located at Bhandup West in Mumbai. The company will develop 432 residential units along with 43 commercial units. "The total construction area is approximately 7,25,000 square feet which will be developed in a single phase with an estimated sales value of Rs 760 crore," the company said in a regulatory filing on Monday. Amit Jain, Chairman and Managing Director, Arkade Developers Limited said the company is expanding its presence in the eastern suburbs of Mumbai. "With 'Arkade Earth in Kanjurmarg' and the under-construction 'Arkade Nest' in Mulund West, we're building a strong pipeline in this corridor. Arkade Rare in Bhandup West further solidifies our commitment to developing luxury, community living projects within the Kanjur-Bhandup-Mulund corridor," Jain added. Arkade Developers recently got listed on stock exchange
The surge in Arkade Developers share price came after the company announced that it will launch a residential and commercial project, Arkade Rare - Bhandup, in Mumbai, on October 26
Stock market crash: Kross share price slipped 6 per cent to Rs 207.50 in the intraday trade today, falling 14 per cent below its issue price of Rs 240 per share
Arkade Developers made a good share market debut on Tuesday, however was lower than Street's expectations. Shares listed at Rs 175.9, reflecting a premium of 37.42 per cent against the IPO issue price