Arkade Developers bags cluster redevelopment project with GDV of Rs 1.7k cr

The project will offer a total saleable area of approximately 6.76 lakh square feet

Arkade Developers has secured a cluster redevelopment project with a gross development value of Rs 1,700 crore, in Dahisar, a micro-market in the Mumbai metropolitan region (MMR).

 

The land parcel spans an area of 6.5 acres and the project may offer a total saleable area of approximately 6.76 lakh square feet to the company.

 

Dahisar East has witnessed over 925 new sale transactions with a gross sales value of Rs 822 crore in the last one year. According to Square Yards Data Intelligence, the area's current property price is around Rs 26,449 per square foot, while the rental rate is around Rs 48.1.

 

“The real estate sector is experiencing positive momentum, fueled by the 2025 Union Budget and its focus on housing and rental market growth. This favourable environment has spurred Arkade Developers by acquiring five new projects this year - four redevelopments and one outright project, strategically located in all prime MMR regions,” Amit Jain, chairman and managing director of Arkade Developers, said.

 

Jain informed that the company has received four occupation certificates (OCs) ahead of the committed Real Estate Regulatory Authority (RERA) schedules. The company will develop two, three and four-bedroom luxury residences.

 

Earlier, the company acquired a four-acre land parcel in Goregaon West in January. The parcel is currently leased to Filmistan Pvt Ltd and is estimated to generate a revenue of Rs 2,000 crore, once developed.

 

Further, the company added three new redevelopment projects within the Western Suburbs of Mumbai, developing 20,232 square metres (approx. five acres) of area across these projects. The projected saleable carpet area is approximately 5.85 lakh sq ft, generating a projected turnover of Rs 2,150 crore.

 

Overall, the company has a pipeline of 16 projects in the MMR region, with six of them being under construction and 10 being upcoming developments.

 

Previously, the company posted a revenue from operations of Rs 551.7 crore for the nine months ended December 2024, up 7.8 per cent year-on-year (Y-o-Y). Its profit attributable to the owners of the company grew by 19.7 per cent Y-o-Y, to Rs 123.7 crore. It clocked pre-sales of Rs 556 crore during the same period, up 23.8 per cent Y-o-Y.