Arkade Developers Targets Overall 20% Growth In FY26, Led By New Projects
The real estate firm is targeting a top line of Rs 3,500 crore to Rs 4,000 crore in FY26 from these launches.
Arkade Developers Ltd. is targeting a top-line and bottom-line growth of 20% in FY26, led by four product launches, according to Chairperson Amit Jain.
"We are looking at four launches this year. One is the Filmistan project and three redevelopment projects in Santacruz West, Goregaon West and Malad West," he told NDTV Profit in a conversation on Monday.
"We are seeing good traction for residential markets, and we look at a 20% growth year-on-year in top line and bottom line," the managing director said.
The real estate firm is targeting a top line of Rs 3,500 crore to Rs 4,000 crore in FY26 from these launches.
On June 14, the company announced acquisition of a 6.28-acre land parcel in Thane for Rs 172.5 crore. The new land parcel is expected to have a gross development value of Rs 2,000 crore.
"We are going to build close to a million square feet and we are looking at realisation of Rs 20,000 per square feet," he said.
It will feature five high-rise towers, each approximately 45 storeys, offering two, three and four BHK apartments. The project is expected to be launched in early 2026.
Calling it a "premium product", Jain emphasised that smaller land coverage will leave "abundant ground space for putting in all the amenities in place. Jain noted that principal approvals for the project were secured in parallel with the land acquisition process. The final step is to obtain environmental clearance.
Thane has a real estate market already populated by several large, established players. Jain described the presence of competitors not as a deterrent, but as a clear sign of the market's strength.
"Large players are a validation that the market is perfectly mature for us to enter. Day by day, it is getting difficult to find land parcels in Mumbai, so Thane is one area where you have land yet available to make some good product and the market is very mature and it's an affordable market to get a product with amenities. That is why Thane," the CMD underlined.
