Arkade Developers targets Rs 40 billion revenue from ongoing projects

25 Oct 2024 CW Team

In an interview, Jain shared that the company currently has 10 projects underway, with eight located in the western suburbs. He noted that the estimated revenue from these projects is around Rs 40 billion, with completion expected within three to four years.

The company recently launched a premium residential and commercial project in Bhandup, MMR. This three-acre project is anticipated to generate up to Rs 7.60 billion in revenue. The land parcel was acquired in September of the previous year for Rs 1.03 billion.

Discussing shifting consumer preferences and the growing demand for luxury amenities, Jain highlighted that people now favour facilities like gyms and swimming pools. He emphasised that expectations have increased, with many seeking to save travel time in Mumbai by having such amenities within easy reach. As a result, the sales pace for these projects is faster, and prices are also higher.

Arkade Developers has a presence in both the western and eastern suburbs, with several projects in South Mumbai. Jain stated that the company typically launches three to four projects annually and also acquires a similar number of land parcels each year.

Additionally, Jain mentioned that the company is exploring new opportunities in Thane, with a few land parcels already identified for acquisition. He revealed that formal agreements have been made, and the acquisition process is expected to conclude within a few months. This significant project, projected to generate revenue of approximately Rs 20 billion, may be launched in the next financial year.

The company’s future plans also include several redevelopment projects. Jain views redevelopment as a mutually beneficial strategy, as residents receive a new apartment while the developer gains the opportunity to sell additional units in the open market.

Arkade Developers is projecting a revenue potential of Rs 40 billion from its 10 ongoing projects across the Mumbai metropolitan region (MMR), as reported by the company’s Chairman and Managing Director, Amit Jain. In an interview, Jain shared that the company currently has 10 projects underway, with eight located in the western suburbs. He noted that the estimated revenue from these projects is around Rs 40 billion, with completion expected within three to four years. The company recently launched a premium residential and commercial project in Bhandup, MMR. This three-acre project is anticipated to generate up to Rs 7.60 billion in revenue. The land parcel was acquired in September of the previous year for Rs 1.03 billion. Discussing shifting consumer preferences and the growing demand for luxury amenities, Jain highlighted that people now favour facilities like gyms and swimming pools. He emphasised that expectations have increased, with many seeking to save travel time in Mumbai by having such amenities within easy reach. As a result, the sales pace for these projects is faster, and prices are also higher. Arkade Developers has a presence in both the western and eastern suburbs, with several projects in South Mumbai. Jain stated that the company typically launches three to four projects annually and also acquires a similar number of land parcels each year. Additionally, Jain mentioned that the company is exploring new opportunities in Thane, with a few land parcels already identified for acquisition. He revealed that formal agreements have been made, and the acquisition process is expected to conclude within a few months. This significant project, projected to generate revenue of approximately Rs 20 billion, may be launched in the next financial year. The company’s future plans also include several redevelopment projects. Jain views redevelopment as a mutually beneficial strategy, as residents receive a new apartment while the developer gains the opportunity to sell additional units in the open market.

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