Arkade Developers Enters Thane Market with ₹2,000 Crore Project, Shares Rise 3%

Arkade Developers shares rose 3% after entering the Thane market with a ₹2,000 crore project. The real estate firm's stock rose 2.9% during the day, trimming gains to trade 1.5% higher. The company bought a 6.28-acre land parcel in Thane for ₹172.48 crore, planning to develop a mixed-use project with a gross development value of ₹2,000 crore.

Arkade Developers Ltd's shares surged by 3% on Monday, reaching ₹195.50, following the company's announcement of a strategic land acquisition in Thane. The real estate firm's stock climbed 2.9% during the day, trimming gains to trade 1.5% higher [1].

The Mumbai-based company confirmed its entry into the Thane market with a 6.28-acre freehold land parcel at Kasarvadavali, Ghodbunder Road. The transaction, valued at ₹172.48 crore including stamp duty, is intended for a marquee mixed-use development with a projected gross development value (GDV) of ₹2,000 crore [1].

The project, expected to offer 2, 3, and 4 BHK residences alongside curated retail and commercial spaces, is slated for launch in early 2026. The site benefits from strong infrastructure connectivity via Eastern Express Highway and the upcoming Metro Line 4 and Thane-Borivali twin tunnel [1].

Arkade Developers Chairman & MD Amit Jain noted that the Thane expansion marks a major milestone in the company’s growth, adding to recent developments in Kanjurmarg, Mulund, and Bhandup. The company also highlighted its recent acquisition of the 4-acre Filmistan land parcel in Goregaon with an estimated GDV of ₹3,000 crore [1].

As of the latest update, Arkade Developers shares were trading at ₹195.50, up 2.25% from the previous close of ₹191.20 [1].

References:
[1] https://www.businessupturn.com/finance/stock-market/arkade-developers-shares-rise-2-after-company-announces-rs-2000-crore-thane-project/