Arkade Developers Eyes Rs 1,700 Crore Revenue from Mumbai Redevelopment

Arkade Developers aims for Rs 1,700 crore revenue through a redevelopment project in Mumbai. The company has acquired land in Dahisar East for the project, which offers a saleable area of 6,76,000 square feet. Arkade also secured a land parcel in Goregaon West, projecting Rs 2,000 crore revenue.

Real estate firm Arkade Developers is setting its sights on generating Rs 1,700 crore in revenue from its latest redevelopment project in the Mumbai Metropolitan Region. The company has made this announcement following its acquisition of a 6.5-acre land plot in Dahisar East.

According to a regulatory filing made on Wednesday, the secured land parcel is designated for the cluster redevelopment of Anand Nagar Society. This project is expected to deliver an impressive gross development value of approximately Rs 1,700 crore, featuring a saleable area of 6,76,000 square feet, combining residential and commercial spaces.

In addition, the company disclosed its January acquisition of a 4-acre plot in Goregaon West, leased to Filmistan Pvt Ltd, with a projected revenue of Rs 2,000 crore. To date, Arkade Developers has successfully completed 31 projects covering more than 55 lakh square feet, with ongoing developments spanning over 20 lakh square feet.

(With inputs from agencies.)