Arkade Developers to Redevelop 3 Mumbai Housing Projects - Rs 2,150 Cr Revenue

New Delhi, Jan 6 (PTI) Arkade Developers Ltd will redevelop three residential projects in Mumbai and expects to generate a revenue of Rs 2,150 crore.

In a statement on Monday, Arkade Developers said it has added three redevelopment projects in key micro-markets within western suburbs of Mumbai.

Collectively, Arkade will develop 20,232 square metres (about 5 acres) across these redevelopment projects located in Andheri East, Malad West and Borivali West.

"The projected saleable carpet area is approx 5.85 lakh sq ft, generating a projected turnover of Rs 2,150 crore," said the company, which recently got listed on the stock exchanges.

Arkade Developers Chairman and Managing Director said, "Redevelopment is a crucial part of the Mumbai real estate growth journey and the brand's forte in the ever-evolving Mumbai skyline".

"We have a robust pipeline of over 8 upcoming projects across MMR. We expect to witness a further uptick in societies partnering with us, owing to our exemplary delivery track record," he said.