Arkade Developers Limited has informed the Exchange regarding a press release dated July 03, 2025, titled "Press Release on Acquisition of Filmistan private Limited.".
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Arkade Developers has entered a binding agreement to acquire Filmistan Pvt Ltd for approximately ₹183 crores. The acquisition gives Arkade access to the 4-acre Filmistan Studios land parcel on SV Road in Goregaon West, Mumbai. The company plans to develop an uber-luxury residential project comprising two 50-storey towers with 3, 4, and 5 BHK homes plus penthouses, with a tentative launch in CY-2026. The projected Gross Development Value (GDV) of the project is around ₹3,000 crores. This marks Arkade's foray into the uber-luxury housing segment and expansion of its footprint in Mumbai's western suburbs.
This acquisition meaningfully expands Arkade's project pipeline, with a potential ₹3,000 cr GDV project at a ₹183 cr entry cost, which could boost future revenue and earnings visibility. The move into the premium/luxury segment and a landmark location is positive for long-term growth, though near-term stock reaction will depend on execution, funding, and regulatory clearances for redevelopment.