Arkade Developers Limited, a prominent luxury real estate developer in Mumbai, has announced a significant expansion of its portfolio through a strategic acquisition. The company has entered into a Share Purchase Agreement (SPA) to acquire a 100% stake in Woollen and Textile Industries Ltd for ₹148.00 crore, marking its second acquisition in Bhandup West.

Key Highlights of the Acquisition

Strategic Implications

This acquisition aligns with Arkade Developers' vision of creating value-driven developments at strategic locations. The company, known for its 'Family-First' philosophy, aims to unlock the potential of this newly acquired land parcel and contribute to urban transformation in the area.

Management's Perspective

Mr. Amit Jain, Chairman and Managing Director of Arkade Developers, commented on the acquisition: "This acquisition underlines Arkade Developers' vision of creating value-driven developments at strategic locations. With our legacy of trust, timely delivery, and quality construction, we look forward to unlocking the potential of this land parcel and contributing meaningfully to urban transformation."

Arkade Developers' Growing Portfolio

The acquisition in Bhandup West adds to Arkade Developers' impressive portfolio of projects across Mumbai's central corridor:

• Arkade Earth in Kanjurmarg (4 acres)
• Arkade Nest in Mulund (2 acres)
• Arkade Rare in Bhandup (3 acres)

Additionally, the company recently announced its strategic entry into the Thane market with a 6.28-acre land acquisition.

Company Profile

Arkade Developers has established itself as a symbol of quality and excellence in Mumbai's real estate sector over the past 39 years. Under Mr. Amit Jain's leadership, the company has:

• Completed 31 projects
• Created homes for over 5,500 families
• Developed over 5.5 million square feet of property
• Currently has 2+ million square feet under construction

The company is renowned for its commitment to timely project deliveries, innovative designs, and use of advanced technologies.

This latest acquisition reinforces Arkade Developers' position as a key player in Mumbai's real estate market, demonstrating its commitment to growth and strategic expansion in prime locations.

Arkade Developers , a prominent real estate company, has reported a significant insider transaction involving its promoter and Managing Director, Amit Mangilal Jain. The company disclosed that Jain has increased his stake in the firm through a substantial share acquisition.

Transaction Details

Amit Mangilal Jain acquired 100,000 equity shares of Arkade Developers, representing 0.05% of the company's total paid-up capital. The shares were purchased through market acquisition on the National Stock Exchange at an average price of Rs. 179.77 per share. The total transaction value amounted to Rs. 17,977,000.00.

Impact on Shareholding

Following this acquisition, Jain's shareholding in Arkade Developers has increased from 66.60% to 66.65% of the company's equity. This move demonstrates the promoter's confidence in the company's future prospects and aligns his interests further with those of other shareholders.

Regulatory Compliance

The transaction was executed in compliance with the Securities and Exchange Board of India (SEBI) regulations. Arkade Developers promptly filed the necessary disclosures under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Company Secretary Statement

Sheetal Solani, Company Secretary and Compliance Officer of Arkade Developers, confirmed the transaction details in official communications to both the BSE Limited and the National Stock Exchange of India Limited.

This insider buying activity often signals management's positive outlook on the company's valuation and future performance. However, investors are advised to conduct their own research and consider multiple factors before making investment decisions.

Arkade Developers continues to be a notable player in the real estate sector, with its promoter demonstrating increased commitment through this latest share acquisition.