Arkade Developers surges on registering Development Agreement for project in Malad West
Arkade Developers is currently trading at Rs. 143.60, up by 4.35 points or 3.12% from its previous closing of Rs. 139.25 on the BSE.
The scrip opened at Rs. 140.00 and has touched a high and low of Rs. 144.80 and Rs. 137.25 respectively. So far 22389 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 190.00 on 24-Sep-2024 and a 52 week low of Rs. 128.30 on 21-Nov-2024.
Last one week high and low of the scrip stood at Rs. 154.40 and Rs. 137.05 respectively. The current market cap of the company is Rs. 2665.20 crore.
The promoters holding in the company stood at 70.82%, while Institutions and Non-Institutions held 1.41% and 27.77% respectively.
Arkade Developers has secured the redevelopment rights for Nutan Ayojan, a co-operative housing society in Malad West, marking another milestone in its strategic expansion across Mumbai's prime micro-markets. The project, spanning 6,858.90 square meters, is expected to generate a gross development value (GDV) of approximately Rs 740 crore.
With a total saleable RERA carpet area of approximately 233,000 square feet, the development will feature luxury residence configurations of 2&3 BHK apartments, catering to the evolving needs of homebuyers seeking premium living spaces in Mumbai’s Western Suburbs. The proposed structure will include 2 basements, four podium parking levels, an eco-deck, and 32 residential floors, ensuring an elevated living experience with modern amenities. Upon completion, the project will offer 408 homes, out of which approximately 215 units will be available for sale, further expanding its residential and commercial footprint.
Malad West is one of Mumbai’s fastest-growing real estate destinations, benefiting from excellent connectivity to major business hubs via the Western Express Highway, Link Road, and the upcoming metro corridors. The redevelopment initiative aligns with Arkade Developers’ commitment to revitalising established neighbourhoods with contemporary, high-quality developments. Arkade Developers continues to strengthen its presence in the MMR region with a robust pipeline of projects. With a focus on timely delivery and premium construction quality, the company remains at the forefront of Mumbai’s evolving real estate market, contributing significantly to the city’s urban transformation.
Arkade Developers is primarily engaged in real estate development. The operations of the company span all aspects of real estate development, from the identification and acquisition of land, to planning, execution, construction and marketing of Commercial and residential projects.
