Arkade Developers has completed the purchase of a 14,363.60 sq m (about 3.5-acre) land parcel in Mumbai's Bhandup West for ₹146 crore. The Arkade Developers Bhandup project is a planned premium housing development with an estimated gross development value (GDV) of ₹1,800 crore, the company told stock exchanges on 3 November.
GDV is the total revenue a developer expects to earn by selling all the homes in a project.
The deal
Arkade did not buy the land directly. It acquired 100% of the shares of Woollen and Textile Industries Ltd (WTIL), the company that owns the plot, under a share purchase agreement. The press release says the entire consideration has been paid.
A 5paisa report on the filing put the exact amount at ₹145.51 crore, paid in cash, and said WTIL is now a wholly owned subsidiary. The deal is not a related-party transaction.
Arkade first signed a memorandum of understanding with WTIL in September 2025 at an indicated ₹148 crore, so the final price is slightly lower.
The numbers
The plot works out to roughly 1.55 lakh sq ft of land. At ₹146 crore, the land cost is about ₹9,400 per sq ft of plot area. The estimated GDV of ₹1,800 crore is about 12 times the acquisition price.
WTIL had a net worth of ₹199.91 crore as of 31 March 2026 and turnover of just ₹0.18 crore in FY26, according to 5paisa. Its business is classified as real estate.
Arkade's growing Bhandup and eastern-suburb footprint
This is Arkade's second land acquisition in Bhandup West. The developer already has Arkade Rare in Bhandup on 3 acres, Arkade Earth in Kanjurmarg on 4 acres and Arkade Nest in Mulund on 2 acres. It also plans to launch a flagship project in Thane in FY27.
Amit Jain, chairman and managing director, said in the press release that Bhandup had become a sought-after residential destination because of better connectivity, infrastructure and buyer demand. He said the deal reinforced the company's focus on value-driven projects in well-located micro-markets.
Arkade says it has completed 33 projects covering more than 5.8 million sq ft. It has over 3 million sq ft under construction.
What it means for you
For home buyers in Mumbai's central suburbs, the deal adds to the pipeline of new premium supply along the Bhandup–Kanjurmarg–Mulund stretch. That gives buyers more choice of new projects from the same developer in a small area.
No launch date, unit count or price has been announced for the Bhandup West project. Interested buyers should wait for the MahaRERA registration, which will list the approved plans, carpet areas and promised completion date, before paying any booking amount.
For investors in Arkade shares, the deal shows the developer adding land in its core eastern-suburb market by acquiring the company that owns it, and committing the full ₹146 crore upfront.
Sources
- NSE filing: Arkade Developers – Press Release on Acquisition of 100% shares of Woollen & Textile Industries Limited — published 3 November 2026.
- 5paisa: Arkade Developers Completes ₹145.51 Crore Acquisition of Woollen and Textile Industries — published 3 November 2026.
- PropNewsTime: Arkade Developers acquires 14,363 sq m Bhandup land parcel for INR 145.51 crore, plans INR 1,800 crore project — published 6 November 2026.
Frequently asked questions
How much did Arkade Developers pay for the Bhandup land?
The company's press release puts the total consideration at ₹146 crore, fully paid, for 100% of Woollen and Textile Industries Ltd. A 5paisa report gave the exact figure as ₹145.51 crore.
How big is Arkade's new Bhandup West project?
The land parcel measures 14,363.60 sq m, about 3.5 acres, and the planned premium residential project has an estimated gross development value of ₹1,800 crore.
When will Arkade launch the Bhandup West project?
The company has not announced a launch date. Its press release only says the Bhandup West development is planned; the flagship project it says it will launch in FY27 is in Thane.