Arkade Developers Plans Rs 3,500-4,000 Crore Projects in FY26: A Strategic Move in Mumbai’s Real Estate Market
Mumbai-based realty developer Arkade Developers is gearing up to launch four significant projects in the financial year 2026, with a combined gross development value (GDV) of Rs 3,500-4,000 crore. The company is optimistic about maintaining a 20% compounded annual growth rate (CAGR) in the short to medium term, following a similar growth trajectory in FY25. Last week, Arkade reported a profit growth of 27.7% at Rs 157 crore for the year ended March 31, 2025. Revenue for the year increased by 9.3% to Rs 695 crore. In an interview with TNIE’s Arshad Khan, Amit Jain, chairman and managing director of Arkade Developers, discussed key product launches, the competitive landscape in Mumbai’s housing market, and plans for FY2026.
We are planning four key project launches this fiscal. The most significant among them is our Filmistan project in Goregaon. We have three redevelopment projects in the pipeline, located in Santacruz West, Goregaon West, and Malad West. Collectively, these four launches are projected to have a GDV in the range of Rs 3,500 to Rs 4,000 crore. We have been achieving a 20% growth historically and anticipate maintaining the same in the years to come. Our revenue is expected to grow by 20% in FY25, reaching about Rs 850 crore.
FY25 marks a year of prominence for Arkade Developers. We acquired the legendary 4-acre land parcel in Goregaon, leased to Filmistan Pvt. Ltd, with an estimated GDV of Rs 2,000 crore. We also secured land parcels and development rights, cumulating to 17.5 acres in western suburbs, with a projected GDV of Rs 6,790 crore, including locations in Andheri, Santacruz, Borivali, Malad, and Dahisar. Our expansion strategy into the eastern Mumbai suburbs for greenfield projects, alongside a solid pipeline of redevelopment projects in the western suburbs, will serve as key growth drivers. We are leveraging our healthy balance sheet and robust cash flows to align with the overall market trend towards luxury housing. With accelerating demand, we are well-positioned to maintain a sustainable growth trajectory.
Mumbai’s real estate market has become highly competitive with big names such as Adani and Prestige having aggressive pipelines. However, there is enough room for everyone to grow in this market. Not every buyer has a budget of Rs 10 crore and upward. There is a significant demand for 2BHK properties. The redevelopment of old properties is here to stay. There are 20,000 buildings in MMR which are due for redevelopment. There is a big opportunity for us and other players. Despite land scarcity in the region, there are many land parcels up for grabs. We are in the process of acquiring a major land parcel in Thane and continue to hold talks with other landowners.
Housing sales have been under pressure for the past two quarters. However, the slowdown is temporary. The need for housing is a fundamental human aspiration, and the ambition to buy a new house or shift to a bigger home will always be there. There are cyclic phases, but they cannot eliminate the industry’s growth as a whole.
Real estate prices have shot up sharply in recent years. The cost of construction has increased significantly, including raw material prices and the GST levied by government bodies. Land prices have also risen. While I do not control the prices, market forces do. When construction costs and land prices come down, property prices may follow. That being said, buyers may become more cautious due to increasing prices, but the demand for homes will always persist.
