Arkade Developers Secures Rs.865 Crore Cluster Redevelopment Project in Borivali West, share rises above 5%

Summary

Arkade Developers Limited has registered a Development Agreement for a major cluster redevelopment project in Borivali West, Mumbai. The project covers 7,084 square meters near Mahavir Nagar and is expected to deliver a saleable carpet area of approximately 2.44 lakh sq. ft. The estimated Gross Development Value (GDV) of the project is Rs.865 crore.

Stock Performance

  • Following the announcement, Arkade Developers Limited’s stock surged 5.4% to hit an intraday high of Rs.153.45.
  • Market Capitalization Rs. 2,842.51 Crore

Key Details of the Contract

  • Project Name: Cluster Redevelopment in Borivali West

  • Contract Value / GDV: Rs.865 Crore

  • Project Scope: Redevelopment of the following housing societies:

    • Satya Shreepal Nagar A CHS Ltd.

    • Om Shreepal Nagar B & C CHS Ltd.

    • Sheetal Shreepal CHS Ltd.

    • Sai Shreepal CHS Ltd.

  • Project Size: 7,084 square meters

  • Projected Saleable Area: Approximately 2.44 lakh sq. ft.

About the Company:

Arkade Developers Limited is a real estate development company focused on developing high-end, sophisticated lifestyle residential developments in Mumbai, Maharashtra.

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