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• Mumbai-based Arkade Developers reported FY26 pre-sales of INR 901 crore, registering 17% year-on-year growth amid sustained residential demand across the Mumbai Metropolitan Region.
• The company posted total revenue of INR 828 crore, up 19% year-on-year, while collections reached INR 728 crore during the financial year.
• Arkade completed the acquisition of the Filmistan property in Goregaon West, Mumbai, with plans to develop an ultra-luxury residential project having an estimated GDV of INR 3,500 crore.
• A one-time accounting adjustment of around INR 182 crore linked to the transaction impacted FY26 consolidated financial statements but was described as non-operational in nature.
• The developer expanded its project pipeline to an estimated GDV of INR 12,800 crore and secured cluster redevelopment rights for nine housing societies in Kandivali East.
Mumbai-based Arkade Developers reported strong operational performance in FY26, supported by continued residential demand across key micro-markets in the Mumbai Metropolitan Region (MMR), while also outlining the strategic significance of its acquisition of the Filmistan property in Goregaon West. The company recorded higher pre-sales, revenue and collections during the financial year and expanded its development pipeline through new project additions and redevelopment opportunities. Advertisement
For FY26, the developer reported pre-sales of INR 901 crore, reflecting a 17% year-on-year increase. Total revenue stood at INR 828 crore, marking growth of 19% compared to the previous financial year. During the fourth quarter, revenue rose 48% year-on-year to INR 199 crore, while collections during the year reached INR 728 crore.
The company maintained a relatively low leverage profile, reporting net debt of INR 73 crore and a net debt-to-equity ratio of 0.08. Alongside its financial performance, Arkade expanded its project portfolio to an estimated Gross Development Value (GDV) of INR 12,800 crore across approximately 4.25 million sq ft of saleable carpet area.
The developer also secured cluster redevelopment rights for nine housing societies in Kandivali East. The redevelopment project spans around three acres and carries a projected GDV of approximately INR 1,100 crore.
A major development during the year was the completion of the acquisition of Filmistan Private Limited and associated ownership rights linked to the Filmistan property in Goregaon West. The site is expected to be redeveloped into an ultra-luxury residential project in one of Mumbai’s established residential locations.
According to the company, a restructuring exercise undertaken following the acquisition to consolidate ownership directly under Arkade Developers resulted in an adjustment to tenancy rights previously held through Filmistan Private Limited. This led to a one-time exceptional accounting impact of approximately INR 182 crore in the consolidated FY26 financial statements.
Arkade stated that the accounting adjustment was non-operational and did not affect the underlying business performance, which continued to record growth in sales, revenue, collections and project additions during the year.
The proposed Filmistan redevelopment is estimated to have a GDV of around INR 3,500 crore. Subject to regulatory approvals and final development plans, the company expects the project to contribute between INR 1,000 crore and INR 1,200 crore cumulatively to its bottom line over the next three to five years.
Commenting on the acquisition, Amit Jain, Chairman and Managing Director of Arkade Developers, said the transaction represented a significant strategic step in the company’s long-term growth plans and strengthened its presence in Mumbai’s premium residential segment. He added that despite the one-time accounting impact arising from the restructuring process, the company’s operational fundamentals remained supported by growth in pre-sales, revenue, collections and a disciplined approach to balance sheet management.
Source - PTI
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