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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
28 minutes ago
- Time of India
Compensation to families affected by Vizhinjam port work
T'puram: State govt has provided compensation for 15 families whose livelihoods were impacted by construction of Vizhinjam port. The govt-run Vizhinjam International Seaport Ltd (VISL) in charge of developing the port and surrounding areas distributed total Rs 43 lakh to these families which included catamaran workers and fishing related load workers. Tired of too many ads? go ad free now VISL managing director Divya S Iyer distributed the compensation on Saturday. Compensation to the tune of Rs 114.73 crore was distributed so far to 2,940 families since the beginning of the project. The fisherfolk and those working in fishing related allied jobs were identified as impacted by the project. TNN
Time of India
43 minutes ago
- Time of India
VMC to prepare master plan for flood mgmt, waterlogging
1 2 Varanasi: The Varanasi Municipal Corporation (VMC) is set to roll out a comprehensive master plan aimed at addressing the persistent issue of waterlogging in the city. A fund of Rs 4 crore has been sanctioned for the preparation of this master plan, which will focus on urban flood management, flood control, and systematic rainwater drainage planning. The amount was allocated to the executive engineer of the corporation on April 5, following which the process to invite tenders for selecting a competent agency was initiated. Two companies participated in the recently concluded bidding process. Once the agency is finalized, the work of drafting the master plan will formally begin. The plan is expected to play a crucial role in identifying and executing targeted projects for better stormwater management, ultimately offering a long-term solution to monsoon-induced waterlogging.
Time of India
43 minutes ago
- Time of India
MP to open industrial office in Ahmedabad, bags Rs 15k cr investment proposals
Bhopal: CM Mohan Yadav on Sunday announced that a new office of the Madhya Pradesh Industrial Development Corporation (MPIDC) will be set up in Ahmedabad to boost industrial growth and streamline investments from Gujarat. Yadav made the announcement while addressing an investor meet in Surat, where the state secured investment proposals worth Rs 15,710 crore. These proposals are expected to generate employment for 11,250 people, stated an official statement issued following the Surat conclave. Yadav emphasised that ease of doing business, transparency, fairness and adherence to timelines are key pillars of the state's approach to industrial and commercial growth. Under the banner of "Industry and Employment Year 2025", Madhya Pradesh is making significant strides in heavy industries, MSMEs, and cottage industries. Yadav highlighted Madhya Pradesh's industrial potential, geographical advantage, expanding infrastructure, and policy innovations. He underlined the state's 39% agricultural growth rate, skilled human resources and abundant mineral reserves, making it suitable for all sectors—textiles, pharmaceuticals, healthcare, and tourism among them. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Reportingly Undo He assured investors that subsidies in the state are directly transferred to beneficiaries' accounts under DBT, ensuring complete transparency. Gujarat, he said, has been a global leader in industry, and under the leadership of Prime Minister Narendra Modi, India has become more secure and prosperous, marked by transformative projects like the Ram Temple in Ayodhya, Mahakal Lok in Ujjain, and the revamped Kashi Vishwanath corridor. He praised Gujarat for giving the nation leaders like Sardar Vallabhbhai Patel and union home minister Amit Shah and highlighted that diamonds mined in Panna, Madhya Pradesh, are polished in Surat, just as cotton grown in Madhya Pradesh fuels Surat's textile industry. The session aimed to deepen connections with Gujarat's industrial groups, especially in textiles, chemicals, pharmaceuticals, engineering, and gems & jewellery. Yadav held one-on-one discussions with representatives of over 18 major companies from these sectors. Over 400 industry representatives participated in the session. CM Yadav inaugurated the event by lighting the ceremonial lamp. He was felicitated with mementos by members of the Gems & Jewellery Export Promotion Council (GJEPC), South Gujarat Chamber of Commerce and Metaxil. The CM welcomed investors to set up industries in Madhya Pradesh and assured them of all necessary support.
