Arkade Developers added 1.85% to Rs 179.20 after the company has signed a share purchase agreement to acquire 100% shareholding in Woollen and Textile Industries, for the purpose of acquiring land in Bhandup (West).
The proposed acquisition includes a land parcel admeasuring 14,363.60 square meters. located in Bhandup (West). The total consideration for the deal is Rs 148 crore.Amit Jain, CMD of Arkade Developers, said: This proposed acquisition underlines Arkade Developers vision of creating value-driven developments at strategic locations. With our legacy of trust, timely delivery, and quality construction, we look forward to unlocking the potential of this land parcel and contributing meaningfully to urban transformation.
Arkade Developers is a luxury real estate developer in Mumbai. The company is engaged in the development of new projects (development / construction of residential premises on land acquired by the company) and redevelopment of existing premises.
The companys consolidated net profit fell 4.8% to Rs 28.76 crore despite 27.2% jump in net sales to Rs 159.45 crore in Q1 FY26 over Q1 FY25.
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