Arkade Developers shares jump 5% on securing Mumbai redevelopment project having gross development value of Rs 1,700 crore

Arkade Developers shares jump 5% on securing Mumbai redevelopment project having gross development value of Rs 1,700 crore

Shares of Arkade Developers surged over 5 percent in trade on Wednesday after the company secured a redevelopment project in Mumbai’s Dahisar suburb, with an estimated gross development value (GDV) of Rs 1,700 crore.

The stock climbed to an intraday high of Rs 155.13 on the NSE, marking a gain of 5.17 percent. The rise follows two sessions of decline.

The company has acquired a 6.5-acre land parcel for the cluster redevelopment of Anand Nagar Society in Dahisar East. The project, covering a plot area of 26,286 square metres, is expected to significantly reshape the local real estate landscape, the company said in an exchange filing.

Commenting on the development, Arkade Developers' Chairman and Managing Director Amit Jain said, "The real estate sector is witnessing strong momentum, driven by the 2025 Union Budget’s emphasis on housing and the rental market. This positive environment has enabled us to acquire five new projects this year—four redevelopment and one outright project—across key locations in the Mumbai Metropolitan Region."

Arkade Developers made its stock market debut in September last year, listing at Rs 176 per share on the BSE, a 37.5 percent premium over the issue price of Rs 128.

The company has a strong presence in Mumbai’s prime locations, with a portfolio spanning new developments and redevelopment projects. It has demonstrated consistent revenue growth and financial stability, reinforcing its market position.

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