Arkade completes ₹146 crore Bhandup West land buy for a new residential project

Arkade Developers Limited said on 3 November 2026 that it has agreed to buy 100% of the shareholding in Woollen and Textile Industries Limited for ₹146 crore. The acquisition gives the Mumbai developer a land parcel of 14,363.60 sq m in Bhandup (West). In its stock exchange filing, the company said the entire consideration has been paid.

The company plans a premium, contemporary residential development on the site. It puts the estimated gross development value (GDV), the total projected sales value of the project, at ₹1,800 crore. That figure is the company's own estimate. The company has not yet named the project or announced its unit count, price range, launch date or possession date.

Price and pipeline history

In September 2025, Arkade had announced a ₹148 crore MoU to acquire the same company. The November 2026 filing gives ₹146 crore, and the company has not explained the difference. An earlier earnings-call summary listed the Woollen Mills site in Bhandup at ₹1,000 crore in the upcoming pipeline. The company has not said whether that figure was revised to ₹1,800 crore.

Chairman and Managing Director Amit Jain said the acquisition reinforces the company's focus on value-driven developments in strategically located micro-markets. He pointed to Bhandup's improving connectivity, expanding infrastructure and growing residential demand. He also said the company remains focused on quality construction and timely delivery. The filing describes this as Arkade's second acquisition in Bhandup West.

The developer's record

Arkade has more than four decades of experience in Mumbai real estate and listed on the stock exchanges after an initial public offering of ₹410 crore in September 2024. Its 3 November 2026 filing says it has completed 33 projects, developed more than 5.8 million sq ft and has over 3 million sq ft under development. The key FY26 numbers are:

• Consolidated revenue rose 19% to ₹828.16 crore.
• Net profit fell to ₹5.29 crore after a one-time exceptional charge of ₹182.17 crore linked to the Filmistan acquisition in Goregaon West.
• Pre-sales reached ₹901 crore, and annual collections were ₹728 crore.
• A company announcement dated 24 September 2026 said the upcoming portfolio had grown to 15 projects with a combined GDV of ₹18,000 crore.

Location and connectivity

Bhandup West lies in the Mumbai Metropolitan Region. It is served by the Central railway line and by the Eastern Express Highway and L.B.S. Marg. Mumbai Metro Line 4 (Green Line), a 32.32 km elevated line from Wadala to Kasarvadavali in Thane, runs along the Eastern Express Highway through Bhandup. A progress report from December 2025 put the line at 89.02% readiness. Public timelines for the Bhandup station differ, with some pointing to late 2026 and others to 2027.

For home buyers, there is nothing to book yet. No units, prices or sales launch have been announced for the parcel, and no registration with the Maharashtra RERA authority has been reported for it. Buyers should check the MahaRERA registration once it is filed, since it sets out approved plans and timelines. For investors, the ₹146 crore payment is a company statement in its filing, and the ₹1,800 crore GDV remains the company's estimate.

Jain said the company looks forward to unlocking the potential of the land. No dates have been given for design, approvals or launch. The company has also outlined plans for a flagship residential project in Thane during FY27. The next step to watch is whether Arkade files its plans and names the Bhandup West project, which would show its unit mix, pricing and timeline.