a day ago
- Business
- Business Standard
Arkade Developers acquires 6.28 acre land in Thane; targets Rs 2000 cr GDV
Arkade Developers said that it has acquired a 6.28 acre freehold land parcel for a total consideration of Rs 172.48 crore including stamp duty, marking its foray into the Thane real estate market.
The transaction will pave the way for a marquee mixed-use development with a projected gross development value (GDV) of Rs 2,000 crore having a RERA saleable area of 9.26 lakh sq. ft., the project launch is slated for early 2026.
Strategically nestled at Kasarvadavali off Ghodbunder Road in Thane West, this upcoming development is set to emerge as a landmark destination, offering a harmonious mix of thoughtfully crafted 2, 3, and 4 BHK residences along with curated retail and commercial spaces. The project boasts sweeping views of the Sanjay Gandhi National Park and seamless connectivity via Ghodbunder Road, the Eastern Express Highway.
Amit Jain, chairman and managing director, Arkade Developers, said, With a strong presence in central locations such as Kanjurmarg, Mulund, and Bhandup, our entry into the Thane market marks a significant milestone in our growth journey. Thane, with its rapidly evolving infrastructure including upcoming metro lines and other major projects, is emerging as a key growth hub for residential and commercial projects.
With accelerating demand, we are well-positioned to maintain a sustainable growth trajectory, creating enduring value for all stakeholders. FY25 marks a year of prominence, during which we also acquired the legendary 4-acre land parcel in Goregaon, previously leased to Filmistan, having an estimated GDV of Rs 3,000 crore.
Arkade Developers is a leading luxury real estate developer in Mumbai. The company is engaged in the development of new projects (development / construction of residential premises on land acquired by the company) and redevelopment of existing premises.
The companys consolidated net profit jumped 69.5% to Rs 33.26 crore on 7% increase in net sales to Rs 131.45 crore in Q4 FY25 over Q4 FY24.
The counter fell 0.26% to settle at Rs 191.45 on Friday, 13 June 2025.
