Arkade Developers Limited IPO

Arkade Developers is a real estate development company whose operations are concentrated on the development of premium residential premises in Mumbai, Maharashtra. As of July 31, 2023, they have developed over 1.80 million square feet of residential property (including via partnership entities in which they hold the majority stake). They are engaged in both the development of new projects and the redevelopment of existing premises. Between 2017 and Q1 FY 2023, they launched 1,040 residential units and sold 792 residential units in different markets in the Mumbai Metropolitan Region (MMR), Maharashtra.

They are currently developing projects that have a very broad per-unit price point, ranging from ₹9.44 million to ₹62.53 million. While their initial projects were stand-alone residential buildings, their portfolio of ongoing projects includes gated communities such as Arkade Nest, Arkade Crown and Arkade Aspire, Arkade Prime, and Arkade Aura. They are currently developing approximately 2 million square feet across five ongoing projects and 2 upcoming projects for which development agreements have been executed already.

Between calendar year 2017 and Q1 FY 2023, the MMR territory has contributed the highest share of annual sales of residential units across the top seven cities in India, ranging from 27% to 32%. Therefore, the company is strategically placed to access a large part of the real estate development market in India.

In the last two decades, the Company has completed 28 projects including 11 projects on a standalone basis including 2 projects executed through partnership firms in which the Company held a majority stake, 8 projects executed by the promoter through his proprietorship, M/s Arkade Creations, and 9 projects through joint development agreements with other third parties with a total built-up area of more than 4.5 million square meters awarded to more than 4,000 customers.

As of June 30, 2024, the company had 201 permanent employees and an additional 850 employees on a contract basis as of June 30, 2024.