Overview
- Arkade disclosed in a regulatory filing that it has entered into an MoU to buy 100% of Woollen and Textile Industries Ltd, describing the transaction as developing rather than completed.
- The proposed deal includes a 14,363.60 sq m land parcel in Bhandup (West) with a total consideration of ₹148 crore.
- The company frames the move as part of a push across Mumbai’s central corridor, citing a delivery record of 31 completed projects totaling 5 million sq ft and about 2 million sq ft under construction.
- Arkade recently announced entry into Thane through a 6.28-acre land acquisition to broaden its pipeline.
- The developer also secured naming and branding rights for Goregaon’s Bangur Nagar Metro Station, now called Arkade Bangur Nagar Metro Station.