Arkade Developers Limited has announced the signing of a Share Purchase Agreement (SPA) to acquire 100% shareholding of Woollen and Textile Industries Ltd., marking its second acquisition in Bhandup West. The deal involves a total consideration of ₹148 crore.
The acquisition includes a land parcel admeasuring 14,363.60 sq. mtrs. located in Bhandup (West).
Mr. Amit Jain, CMD of Arkade Developers, stated that this acquisition aligns with Arkade Developers' vision of creating value-driven developments at strategic locations. He added that the company looks forward to unlocking the potential of this land parcel and contributing meaningfully to urban transformation, leveraging their legacy of trust, timely delivery, and quality construction.
Arkade Developers is expanding its presence across MMR's central corridor with projects like Arkade Earth in Kanjurmarg (4 acres), Arkade Nest in Mulund (2 acres), and Arkade Rare in Bhandup (3 acres). The company recently announced its entry into the Thane market with a 6.28-acre land acquisition. Arkade Developers remains committed to its 'Family-First' philosophy, focusing on creating future-ready communities.
Arkade Developers is a luxury real estate developer in Mumbai, listed on both BSE (544261) and NSE (ARKADE). With a legacy of over 39 years, the company has completed 31 projects under the leadership of Chairman and Managing Director Mr. Amit Jain, creating homes for over 5,500 families. The company focuses on building family-friendly homes and upholds values such as trust, transparency, commitment, and happiness.
Known for timely project deliveries, Arkade Developers has developed over 5.5 million square feet of property, with an additional 2+ million square feet currently under construction. The company emphasizes meticulous planning, innovative designs, and the use of advanced technologies to ensure timely project delivery and high standards.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
