 "Arkade Group to invest Rs 470 cr on new housing project in Mulund, Mumbai")
Realty firm Arkade Group will invest Rs 470 crore to develop a housing project at Mulund in Mumbai.
The project 'Arkade Nest' is spread over 2 acres and will have 350 flats.
"The total investment estimate in this project is Rs 470 crore, out of which Rs.115 crore has been spent so far," Mumba-based realty firm Arkade said in a statement.
Established in 1986, the Arkade Group is planning an initial public offering (IPO) to raise about Rs 600 crore in a fresh issue of shares, it added.
The group clocked a total sales bookings of Rs 150 crore in the first quarter of this fiscal.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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