Arkade Developers has completed two years as a listed entity, reporting a more than 500% increase in its projected gross development value (GDV) to ₹18,000 crore from ₹2,800 crore in August 2024. The Mumbai-based luxury real estate developer made its market debut in September 2024 through a ₹410 crore initial public offering.

The company’s upcoming project portfolio expanded from eight to 15 projects during this period. Saleable carpet area for these upcoming projects grew over 500% to 57 lakh sq ft, while total plot area increased more than 300% to 1.75 lakh sq m. Average project size doubled to 11,660 sq m, reflecting a shift toward larger-scale developments.

Financial Performance and Delivery Metrics

Between FY24 and FY26, Arkade Developers delivered five projects comprising 708 homes. Pre-sales grew at an 18% compound annual growth rate (CAGR), reaching ₹901 crore in FY26 from ₹645 crore in FY24. Area sold increased at a 25% CAGR to 3.15 lakh sq ft, while collections rose at an 11% CAGR to ₹728 crore.

Total income recorded a 14% CAGR, climbing to ₹828 crore in FY26 from ₹636 crore in FY24. EBITDA stood at ₹189 crore, resulting in a margin of 23%. Net worth surged 134% to ₹901 crore, indicating a strengthened financial foundation.

Balance Sheet Strength and Liquidity

The company maintained a negligible debt-to-equity ratio throughout the period. Liquid funds increased 600% to ₹102 crore, leaving the company net-cash positive. This liquidity position supports the pursuit of growth initiatives while maintaining a prudent capital structure.

Strategic Expansion and Land Acquisition

Amit Jain, Chairman and Managing Director, stated that the last two years reinforced their belief in disciplined execution and financial prudence. The company acquired two large land parcels in Goregaon and Thane, representing an investment of approximately ₹530 crore across more than 10 acres. These acquisitions include a mix of greenfield and redevelopment opportunities.

What the Numbers Show

The divergence between pre-sales growth (18% CAGR) and collections growth (11% CAGR) suggests that while sales momentum is strong, cash realization is lagging slightly behind booking velocity. However, the significant jump in liquid funds (600%) to ₹102 crore indicates improved cash conversion or efficient working capital management despite the slower collection growth relative to sales. The net worth increase of 134% alongside negligible debt highlights a deleveraged balance sheet capable of funding the ₹530 crore land acquisition without significant external leverage.

Company Profile

Arkade Developers holds ISO 9001:2015 and ISO 45001:2018 certifications and was featured among the top 1,000 listed companies within its first year of listing. The firm has completed 33 projects, developed over 5.8 million sq ft of property, and created homes for over 5,800 families.

Arkade Developers Limited concluded its 40th Annual General Meeting on September 22, 2026, with all six resolutions passed and voting results submitted to stock exchanges on September 24, 2026.

The meeting was held through video conferencing and other audio-visual means, in compliance with Ministry of Corporate Affairs and SEBI circulars. A total of 57 members attended the session, which commenced at 3:00 pm and concluded at 4:06 pm. The scrutinizer's report was issued by CS Vijay Yadav, Partner of M/s AVS & Associates, Practicing Company Secretaries, dated September 23, 2026, pursuant to Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Remote e-voting was conducted via BIGSHARE, commencing September 18, 2026 at 9:00 am IST and closing September 21, 2026 at 5:00 pm IST. The cut-off date for determining eligible shareholders was September 15, 2026.

Resolutions passed

Shareholders adopted the audited standalone and consolidated financial statements for the financial year ended March 31, 2026. The Board of Directors' reports and auditors' opinions were received without any qualifications or adverse comments on financial transactions or secretarial matters. The following special business items were also approved: introduction and implementation of the Arkade Employees Stock Option Plan (ESOP) 2026; extension of benefits under the Arkade ESOP 2026 to employees and directors of subsidiary companies. Additionally, members ratified the remuneration of cost auditors for FY27 and re-appointed Mr. Arpit Vikram Jain as a director retiring by rotation.

Voting results summary

Across all six resolutions, total votes polled stood at 15,09,49,250 out of 18,56,63,617 outstanding shares, representing 81.30% participation. The table below summarises the outcome for each resolution.

Category-wise participation

The promoter and promoter group, holding 13,21,79,848 shares, polled 12,91,99,848 votes, representing 97.74% of their holdings, and voted entirely in favour across all resolutions. Public institutional holders, with 14,03,195 shares, polled 11,94,933 votes (85.16% participation). Public non-institutional holders, holding 5,20,80,574 shares, polled 2,05,54,469 votes (39.47% participation). No invalid votes were recorded in any category for any resolution.

Notably, for the re-appointment of Arpit Vikram Jain (Resolution 3), public institutional holders voted 1,98,644 shares against out of 11,94,933 polled, representing 16.62% of their votes. For the two ESOP-related special resolutions (Items 5 and 6), public institutional holders voted 11,87,689 shares against, representing 99.39% of their institutional votes polled, while the promoter group and public non-institutional holders voted overwhelmingly in favour, resulting in both resolutions passing.

Governance and attendance

Mr. Amit Mangilal Jain, Chairman and Managing Director, chaired the meeting. Key personnel present included Whole-time Directors Mr. Arpit Vikram Jain and Mr. Sandeep Ummedmal Jain, along with Independent Directors Mrs. Neha Sunil Huddar, Mr. Abhishek Dev, and Mr. Sumesh Ashok Mishra. The statutory auditors, M/s Mittal & Associates, Chartered Accountants, were represented at the meeting. E-voting results were declared by the scrutinizer, M/s AVS & Associates, and filed with the stock exchange platforms on September 24, 2026.

What the numbers show

The clean audit record for FY26, with no qualifications in either the statutory or secretarial audit reports, reflects strong compliance. The ESOP 2026 resolutions passed despite near-unanimous opposition from public institutional holders, carried by the promoter group's 97.74% participation rate and broad support from non-institutional shareholders. The re-appointment of Arpit Vikram Jain also passed comfortably, with 99.87% of total votes polled in favour, notwithstanding 16.62% opposition from institutional holders.