Arkade Developers shares rise 4% on securing redevelopment project in Malad

Arkade Developers shares advanced 3.9 per cent on Wednesday (February 19, 2025), and logged an intraday high at Rs 144.8 per share on BSE. The buying on the counter came after the company secured the redevelopment rights for Nutan Ayojan, a co-operative housing society in Malad West.

 

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. 

 

Around 12:43 PM, Arkade Developers shares were up 2.41 per cent at Rs 142.6 per share on BSE. In comparison, the BSE Sensex was up 0.03 per cent at 75,989.45. The market capitalisation of the company stood at Rs 2,647.56 crore. The 52-week high of the stock was at Rs 190 per share and 52-week low was at Rs 128.3 per share.

 

"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 filing read.

 

The project, spanning 6,858.90 square meters, is expected to generate a gross development value (GDV) of approximately Rs 740 crore. The development will feature luxury residence configurations of 2 and 3 BHK apartments, with total saleable RERA carpet area of appx 233,000 square feet. 

 

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, as per the filing. 

 

“This project is designed to offer residents innovative homes and a modern lifestyle while preserving the familiarity of their trusted surroundings. Aligned with our broader vision, we aim to capitalize on high-growth micro-markets through redevelopment, strategic asset acquisitions, and unlocking our land bank's value. By expanding our launch pipeline, we are set to accelerate our growth strategy," said  Amit Jain, chairman and managing director, Arkade Developers.

 

With this project, Arkade Developers continues to strengthen its presence in the MMR region with a robust pipeline of projects.   Arkade Developers is a real estate developer known for creating opulent residential properties.