Arkade: Rs 700 Cr Revenue from Mumbai Redevelopment

New Delhi, Feb 16 (PTI) Realty firm Arkade Developers Ltd on Monday said it is expecting a revenue of around Rs 700 crore from a redevelopment project in Mumbai.

In a regulatory filing, the company informed that it has registered the 'development agreement' for the "cluster redevelopment of Shree Rani Sati Nagar Co-operative Housing Society Ltd", located in Malad West.


"The project spans a total plot area of approximately 6,553 square metres and is proposed as a large-scale cluster redevelopment with an estimated Gross Development Value (which means revenue potential) of around Rs 700 crore," Arkade said.

Mumbai-based Arkade Developers has completed 31 projects with over 5.5 million square feet area and more than 2 million square feet area is under construction. PTI MJH MJH ANU

ANU