Arkade Developers Buys 14,364 Sq Metre Land In Bhandup For ₹148 Crore To Expand MMR Projects

New Delhi: Realty firm Arkade Developers Ltd on Wednesday said it has bought 14,364 sq metre land in the Mumbai Metropolitan Region (MMR) for Rs 148 crore.

In a regulatory filing, the company informed that it has entered into an MoU (memorandum of understanding) to acquire 100 per cent shareholding in Woollen and Textile Industries Ltd.

"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 said.

The company has completed 31 projects comprising 5 million square feet of area so far. It is constructing another 2 million sq ft area.

Mumbai-based Arkade Developers is one of the leading real estate firms in the country.

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