Arkade Developers shares touched Rs 132.15 intraday on Wednesday, after adding four Mumbai redevelopment projects worth Rs 5,000 crore.

The company, which trades under the ticker ARKADE, told the exchange it has picked up cluster redevelopment projects in Malad West, Kandivali West, Kandivali East and Borivali West.

Together, the four sites cover close to 45,204 square metres of land, or roughly 11.17 acres. For investors, here is when things become interesting.

Arkade expects these projects to yield around 15 lakh square feet of saleable area once built, with a total construction area of about 51 lakh square feet. Two of the sites sit in Kandivali.

Ashok Nagar in Kandivali East and Shankar Lane in Kandivali West together span around 12,612 square metres, with an expected saleable area of 3.5 lakh square feet and a projected value of Rs 1,100 crore.

The Malad West project covers about 8,428 square metres and should bring in roughly Rs 900 crore from 2.5 lakh square feet of saleable space.

The Borivali West project is the biggest by far. Spread across nearly 24,165 square metres, the Yogi Nagar redevelopment alone carries a turnover potential of about Rs 3,000 crore across 9 lakh square feet.

Chairman and Managing Director Amit Jain called redevelopment a core part of the company’s growth strategy in Mumbai.

He also flagged the recent completion of Arkade Eden in Malad West, where the company received its occupancy certificate nine months ahead of schedule.

The company has now completed 32 projects covering 55 lakh square feet in total, with another 20 lakh square feet currently under construction.

Gains didn’t hold through the session. Arkade Developers closed at Rs 127.65 on the NSE, down 1.82% from the previous close of Rs 130.02.

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