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Arkade Developers Ltd has acquired a 14,364 sq metre land parcel in Bhandup (West) for INR 148 crore by taking full ownership of Woollen and Textile Industries Ltd. The company has successfully completed 31 projects covering 5 million square feet and is developing another 2 million square feet. This acquisition strengthens Arkade's presence in the Mumbai Metropolitan Region and aligns with its strategy of expanding its development portfolio in key urban locations. Known for its focus on residential and commercial projects, the company continues to consolidate its position among India's leading real estate developers.
Arkade Developers Ltd, a Mumbai-based real estate company, has acquired a 14,364 sq metre land parcel in the Mumbai Metropolitan Region for INR 148 crore. The company disclosed in a regulatory filing that it has signed a memorandum of understanding to acquire 100 percent shareholding in Woollen and Textile Industries Ltd, which owns the Bhandup (West) property. Advertisement
The land parcel measures 14,363.60 sq metres, and the total consideration for the acquisition is INR 148 crore. Arkade Developers has a history of completing 31 projects covering 5 million square feet and is simultaneously constructing an additional 2 million square feet of residential and commercial space.
This acquisition adds a significant property to Arkade's portfolio in Bhandup, a locality known for its growing residential and commercial developments within the Mumbai Metropolitan Region. The move aligns with the company's ongoing strategy to expand in key areas while continuing to deliver projects efficiently. Over the years, Arkade has established itself as a prominent developer in India, known for completing large-scale projects with a focus on quality and timely execution.
By acquiring this land, Arkade Developers strengthens its development pipeline and reinforces its presence in a strategic location in Mumbai. The company is expected to leverage this property for future projects, contributing further to its ongoing growth in both residential and commercial real estate segments. This step reflects Arkade's consistent focus on increasing its footprint in important urban areas while maintaining its established standards in project delivery.
Source PTI
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