Arkade Developers has acquired a prime land parcel in Mumbai Metropolitan Region (MMR), strengthening its development portfolio.

In a regulatory filing, the Mumbai-based real estate firm disclosed it has entered into an MoU to acquire 100 percent shareholding in Woollen and Textile Industries. "The proposed acquisition includes a land parcel admeasuring 14,363.60 sq metres located in Bhandup (West). The total consideration for the deal is Rs 148 crore," Arkade Developers stated.

This move marks a significant step for the company, which has delivered 31 projects covering five million sq. ft. of built-up area. Presently, it is undertaking construction of an additional two million sq. ft. across ongoing projects. Arkade Developers, known for its residential and commercial developments, sees the acquisition as a strategic investment in one of Mumbai’s most sought-after real estate corridors. With this expansion, the company aims to further strengthen its presence and create long-term value in the competitive MMR property market.