Arkade Developers shares rise 2% after company announces Rs 2,000 crore Thane project
Shares of Arkade Developers Ltd rose over 2% to ₹195.50 in Monday's early trade after the company announced a strategic land acquisition in Thane. The Mumbai-based real estate company confirmed its foray into the Thane market with a 6.28-acre freehold land parcel at Kasarvadavali, Ghodbunder Road.
The company disclosed that the transaction, valued at ₹172.48 crore including stamp duty, is intended for a marquee mixed-use development with a projected gross development value (GDV) of ₹2,000 crore. The project is expected to offer 2, 3, and 4 BHK residences alongside curated retail and commercial spaces, with launch slated for early 2026.
The site offers sweeping views of the Sanjay Gandhi National Park and benefits from strong infrastructure connectivity via Eastern Express Highway and the upcoming Metro Line 4 and Thane-Borivali twin tunnel.
Arkade Developers Chairman & MD Amit Jain noted that the Thane expansion marks a major milestone in the company's growth, adding to recent developments in Kanjurmarg, Mulund, and Bhandup. The company also highlighted its recent acquisition of the 4-acre Filmistan land parcel in Goregaon with an estimated GDV of ₹3,000 crore.
As of the latest update, Arkade Developers shares were trading at ₹195.50, up 2.25% from the previous close of ₹191.20.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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