Arkade Developers Share Price Rise 4% on New Projects

Arkade Developers share price rose by 4% on Tuesday, January 7, 2025, reaching an intraday high of ₹179.9 per share. The rise followed the company’s announcement of 3 new redevelopment projects in Mumbai.

By 11:16 AM, the shares were up 3.21% at ₹178.4, while the BSE Sensex was up by 0.32%. Arkade Developers’ market capitalisation stood at ₹3,312.24 crore, with a 52-week high of ₹190 per share and a low of ₹123.3.

3 Redevelopment Projects in Mumbai

Arkade Developers will be working on 3 new redevelopment projects in Mumbai’s Western Suburbs, covering a total area of 20,232 square meters (about 5 acres). These projects are expected to generate a saleable carpet area of around 5.85 lakh square feet, with a projected turnover of ₹2,150 crore.

• Andheri East Project

Located near the Western Express Highway, the project spans 6,811 square meters and offers a saleable area of 1.29 lakh square feet. The projected turnover is ₹527 crore.

• Malad West Project

Covering 6,337 square meters, this project will provide 2.12 lakh square feet of saleable area, with an estimated turnover of ₹758 crore.

• Borivali West Project

The largest of the three, this project consists of a cluster of 4 societies spanning 7,084 square meters. It offers a saleable area of 2.44 lakh square feet and a projected turnover of ₹865 crore.

Strong Pipeline and Delivery Focus

Amit Jain, Chairman and MD of Arkade Developers, mentioned the company’s robust pipeline of over 8 upcoming projects across the Mumbai Metropolitan Region (MMR). Arkade Developers expects to see more societies partnering with them due to their strong track record in project delivery.

Stock Performance and Listing

Since its listing on September 24, 2024, Arkade Developers’ shares have risen by 35% from its issue price of ₹128 per share. The company is known for its residential and commercial real estate developments in Mumbai.

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