Arkade Expects Rs 865 Cr Revenue From Re-Dev Project

Realty firm Arkade Developers Ltd on Tuesday said it expects Rs 865 crore revenue from a redevelopment project in Mumbai.

In a regulatory filing, the company informed it has secured cluster redevelopment rights and registered the development agreement for Satya Shreepal Nagar A CHS Ltd, Om Shreepal Nagar B & C CHS Ltd, Sheetal Shreepal CHS Ltd and Sai Shreepal CHS Ltd. The project will have a saleable carpet area of approximately 2.44 lakh square feet.

"The development carries an estimated top line of Rs 865 crore, marking a significant addition to Arkade's growing portfolio in the western suburbs," the company said. Mumbai-based Arkade Developers has so far completed 31 projects comprising 55 lakh square feet. Another 20 lakh square feet area is under development.