India's Arkade Developers rises after acquiring Filmistan for 1.8 bln rupees

Arkade Developers

03/07/2025 09:36

** Real estate developer Arkade Developers ARKD.NS rises 5.1% to 198.01 rupees

** Co acquires Filmistan Pvt Ltd for 1.83 billion rupees ($21.46 million)

** Says, acquisition will enable it to develop the 4-acre land parcel in Mumbai known popularly as 'Filmistan Studios'

** Adds, tentative launch will be in 2026, with development featuring 3, 4, 5-bedroom residences along with penthouses and having a gross value of 30 billion rupees

** YTD, ARKD up ~13%

($1 = 85.2680 Indian rupees)

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))