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.

Arkade developers Limited's Whole time Director Mr. Arpit Vikram Jain has acquired 10,000 equity shares in the company through open market purchase. The acquisition was disclosed under Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, marking a significant investment by the director in the company's equity.

Transaction Details

The share acquisition was completed through market transaction with specific parameters as disclosed in the regulatory filing:

Updated Shareholding Position

Following this acquisition, Mr. Arpit Vikram Jain's shareholding in the company has been updated:

Director Profile and Compliance

Mr. Arpit Vikram Jain serves as Whole time Director of Arkade Developers Limited with DIN 06899631. He is based at Mahant Road, Vile Parle East, Mumbai. The director filed the mandatory disclosure with both BSE Limited (Scrip Code: 544261) and National Stock Exchange of India Limited (Symbol: ARKADE) in compliance with SEBI takeover regulations.

Company Capital Structure

The company's equity share capital remains unchanged at ₹1,85,66,36,170, divided into 18,56,63,617 equity shares of ₹10.00 each. The recent acquisition represents a continued investment commitment by the director, demonstrating confidence in the company's business prospects and growth trajectory.

This transaction follows the established pattern of market purchases by company insiders, with all necessary regulatory disclosures being filed within the prescribed timeframes under SEBI guidelines.