/images/ppid_59c68470-image-177986266266138473.webp)
/images/ppid_a911dc6a-image-177987602566825925.webp)
/images/ppid_a911dc6a-image-177987604924444295.webp)
What is the story about?
Shares of Arkade Developers Ltd. gained more than 3% on Wednesday, May 27, after the real estate company secured a cluster redevelopment project in Kandivali East, Mumbai, with a projected Gross Development Value (GDV) of around ₹1,100 crore.
The real estate company said it has secured redevelopment rights for nine housing societies in Ashok Nagar, Kandivali East. The project spans around three acres and has a saleable RERA carpet area of nearly 3.25 lakh square feet, according to the company's exchange filing.
Arkade Developers said the redevelopment project will feature premium residential units aimed at urban homebuyers and will include landscaped open spaces and modern amenities.
Also read: Use the SBI dip as a 'buying' opportunity; CLSA says projecting 32% upside
Commenting on the development, Chairman and Managing Director Amit Jain said, “At Arkade Developers, every project is an opportunity to create spaces that go beyond homes—they inspire better living and stronger communities.”
“This redevelopment rights also reinforces our growth momentum as we continue expanding our footprint across MMR,” He added.
The company highlighted Kandivali East’s connectivity through the Western Express Highway, suburban railway network and Metro Line 2A, along with proximity to commercial hubs such as BKC, Malad, Goregaon and Andheri.
Also read: Buzzing Stock: Auto component maker surges 9% after Q4 results but remains below IPO price
Arkade Developers said it has completed 32 projects over the last four decades and has developed over 5.5 million square feet of property, with more than 2 million square feet currently under development.
Shares of the company gained following the project win announcement and were trading nearly 1.5% higher at ₹124.1. The stock has, however, fallen close to 8% so far this year and more than 29% in the last 12 months.
The real estate company said it has secured redevelopment rights for nine housing societies in Ashok Nagar, Kandivali East. The project spans around three acres and has a saleable RERA carpet area of nearly 3.25 lakh square feet, according to the company's exchange filing.
Arkade Developers said the redevelopment project will feature premium residential units aimed at urban homebuyers and will include landscaped open spaces and modern amenities.
Also read: Use the SBI dip as a 'buying' opportunity; CLSA says projecting 32% upside
Commenting on the development, Chairman and Managing Director Amit Jain said, “At Arkade Developers, every project is an opportunity to create spaces that go beyond homes—they inspire better living and stronger communities.”
“This redevelopment rights also reinforces our growth momentum as we continue expanding our footprint across MMR,” He added.
The company highlighted Kandivali East’s connectivity through the Western Express Highway, suburban railway network and Metro Line 2A, along with proximity to commercial hubs such as BKC, Malad, Goregaon and Andheri.
Also read: Buzzing Stock: Auto component maker surges 9% after Q4 results but remains below IPO price
Arkade Developers said it has completed 32 projects over the last four decades and has developed over 5.5 million square feet of property, with more than 2 million square feet currently under development.
Shares of the company gained following the project win announcement and were trading nearly 1.5% higher at ₹124.1. The stock has, however, fallen close to 8% so far this year and more than 29% in the last 12 months.
/images/ppid_59c68470-image-177987757002017874.webp)
/images/ppid_59c68470-image-177987760969230703.webp)
/images/ppid_59c68470-image-177987752910295248.webp)