Arkade Developers has announced its plans to launch a new real estate project this month, marking a significant expansion in its development portfolio. The upcoming project will be strategically positioned next to the company's existing Jal Ratan Deep development.

Project Details and Financial Overview

The new project carries substantial financial implications for the real estate developer, with key parameters outlined below:

Strategic Development Approach

The decision to develop the new project adjacent to Jal Ratan Deep reflects a strategic approach to real estate development. This proximity-based expansion allows the company to leverage existing infrastructure and market presence in the area.

Financial Impact

The combined Gross Development Value of both projects totaling ₹580 crores represents a substantial commitment to the real estate market. With the new project contributing ₹230 crores to this total, it indicates that the Jal Ratan Deep project accounts for the remaining ₹350 crores in GDV.

Market Positioning

The announcement demonstrates Arkade Developers' continued focus on expanding its project pipeline and strengthening its market position through strategic project launches. The timing of the launch this month suggests the company is moving forward with its development plans as scheduled.

Arkade Developers has registered a Development Agreement for a premium redevelopment project named Jal Ratan Deep at Bangur Nagar, Goregaon West, with an estimated Gross Development Value of ₹350.00 crore. The company announced this development through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Project Specifications

The Jal Ratan Deep project represents a significant addition to Arkade Developers' portfolio in Mumbai's western suburbs. The development details are outlined below:

Strategic Market Position

Envisioned as a contemporary high-rise development, this project will offer luxurious homes and commercial spaces in Goregaon West, a prominent micro-market in Mumbai's western suburbs. The development is designed to cater to high-end users seeking larger homes, strengthening the area's mixed-use character and boosting Bangur Nagar's commercial ecosystem.

Management Commentary

Commenting on the development, Mr. Amit Jain, CMD of Arkade Developers Limited, stated that this development aligns with the company's vision of building sustainable, future-ready urban spaces, strengthening their footprint in key western suburbs. He highlighted that the company has 4 projects completed and 3 ongoing in the Goregaon-Malad micro market.

Upcoming Pipeline

The company has revealed plans for another project adjacent to Jal Ratan Deep, lined up for launch with an estimated GDV of ₹230.00 crore. The combined projected GDV for both projects totals ₹580.00 crore, reinforcing the company's significant presence in the western suburbs market.

Company Track Record

With a legacy spanning over 39 years, Arkade Developers has completed 31 projects and created homes for over 5,500 families. The company has developed over 5.50 million square feet of property, with an additional 2+ million square feet currently under construction. The company is listed on both BSE (544261) and NSE (ARKADE) and is known for its timely project deliveries and commitment to quality.