Shares of Arkade Developers Ltd shot up more than 6% on Tuesday, 8 April 2025, after it acquired the cluster redevelopment rights in Borivali West, Mumbai, which had an estimated gross development value (GDV) of Rs 865 crore. 

Arkade Developers has acquired the cluster redevelopment rights and registered the DA (development agreement) for Om Shreepal Nagar B & C CHS Ltd., Satya Shreepal Nagar A CHS Ltd., Sheetal Shreepal CHS Ltd., and Sai Shreepal CHS Ltd. The project spans 7,084 square meters and is expected to deliver a saleable carpet area of approximately 2.44 lakh square feet. The project is located in one of Mumbai’s well-connected residential districts.

Amit Jain, chairman and managing director of Arkade Developers, said, “This project is a reflection of our philosophy to bring people luxury homes, stronger infrastructure, and vibrant neighborhoods. This micro-market has immense potential, and we are proud to be playing a pivotal role in shaping its future.”

The project also solidifies Arkade Developers’ standing as a trustworthy player in the city’s transformation story and reaffirms the company’s commitment to high-value, strategic redevelopment in Mumbai’s land-constrained environment, according to the filing.

Arkade Developers is a leading premium real estate developer in Mumbai. Throughout its more than 38-year history, the company has established a reputation as a symbol of quality and excellence.  

Since its establishment in 1986, the company has completed 31 projects, constructing homes for over 5,500 happy families. With the motto “Family First,” Arkade Developers places a high priority on building homes that are suitable for families while respecting values like contentment, commitment, trust, and openness.

Arkade Developers has developed about 5.5 million square feet of property and is presently constructing an additional 2 million square feet, according to the petition.

At 2:21 pm, the shares of Arkade Developers were trading 4.99% higher at Rs 152.67 on NSE.

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