Land Acquisition
Arkade to Acquire Woollen and Textile Industries for ₹146 Crore in Bhandup West
Arkade Developers Limited has agreed to buy 100% of Woollen and Textile Industries Limited for ₹146 crore, a deal that gives the listed Mumbai developer a 14,363.60 sq m land parcel in Bhandup (West). The company says the consideration has been fully paid and plans a residential project with an estimated gross development value of ₹1,800 crore.
| Announced | 3 November 2026 |
|---|---|
| Buyer | Arkade Developers Limited |
| Target | Woollen and Textile Industries Limited (100% shareholding) |
| Consideration | ₹146 crore, stated as fully paid in the company's regulatory filing |
| Land parcel | 14,363.60 sq m in Bhandup (West), Mumbai Metropolitan Region |
| Proposed use | Premium, contemporary residential development |
| Estimated GDV | ₹1,800 crore (company estimate) |
| Project status | Land acquisition completed; residential project proposed, not yet launched (as of 4 November 2026) |
What happened
On 3 November 2026, Arkade Developers Limited said it had agreed to buy the entire shareholding of Woollen and Textile Industries Limited for ₹146 crore. The company's regulatory filing with the BSE and the National Stock Exchange states that the full consideration has been paid. The acquisition includes a land parcel of 14,363.60 sq m in Bhandup (West), Mumbai.
The company describes this as its second acquisition in Bhandup West.
Deal terms and the earlier MoU
- Stake: 100% of Woollen and Textile Industries Limited, through a share purchase.
- Consideration: ₹146 crore, which the company says has been paid in full.
- Earlier agreement: In September 2025, Arkade announced a memorandum of understanding to acquire the same company for ₹148 crore.
The price in the November 2026 filing is ₹146 crore, which is lower than the ₹148 crore figure in the earlier MoU.
Land and the proposed development
The parcel measures 14,363.60 sq m. Arkade plans a premium, contemporary residential development on it, with an estimated gross development value of ₹1,800 crore.
An earnings-call summary had earlier listed the Woollen Mills site in Bhandup in the company's upcoming pipeline at ₹1,000 crore. The ₹1,800 crore figure is the one the company now quotes for the Bhandup West development.
The proposed project has not been launched. The company has not announced a unit count, configurations, price band, launch date or possession date for this parcel.
What Arkade's chairman said
Amit Jain, Chairman and Managing Director of Arkade Developers, said the acquisition reinforces the company's aim of creating value-driven developments in strategically located micro-markets. He cited Bhandup's improving connectivity, expanding infrastructure and growing residential demand. He also said the company remains focused on quality construction and timely delivery.
Jain said Bhandup has rapidly become a sought-after residential destination and that the company looks forward to unlocking the potential of the land parcel.
Transport context in Bhandup
Mumbai Metro Line 4 (Green Line) is a 32.32 km elevated line running from Wadala to Kasarvadavali in Thane, along the Eastern Express Highway through Ghatkopar, Vikhroli, Bhandup and Mulund. As of December 2025, a Free Press Journal report put the line at 89.02% physical readiness and 79.9% financial progress.
Reported opening timelines for the line vary. Some listings show the Bhandup station opening around December 2026, while other sources give 2027. A state assurance reported in the press said all phases would open by October 2026. Bhandup is also served by the Central Railway line, and the L.B.S. Marg and Eastern Express Highway provide road access.
What it means for buyers, investors and the market
- Home buyers: No units, prices or possession dates have been announced for the Bhandup West parcel, so the deal does not yet change what is on offer to buyers.
- Investors: The ₹146 crore consideration has been paid, according to the company filing. The ₹1,800 crore GDV is the company's own projection.
- Local market: The deal adds another large residential land holding in Bhandup West. Arkade is already developing a separate project nearby, Arkade Rare, which was launched in October 2024 with 432 residential units and 43 commercial spaces, offering 2 BHK and 3 BHK apartments.
Arkade's recent position
Arkade reported FY26 consolidated revenue of ₹828.16 crore, up 19%. Net profit fell to ₹5.29 crore after a one-time exceptional charge of ₹182.17 crore linked to its Filmistan acquisition. Pre-sales reached ₹901 crore in FY26, and annual collections were ₹728 crore.
On 24 September 2026, the company said its upcoming project portfolio had grown to 15 projects, with gross development value rising more than 500% to ₹18,000 crore. The company completed the Filmistan acquisition in Goregaon West during FY26, with an estimated GDV of ₹3,500 crore. It also holds cluster redevelopment rights for nine societies at Kandivali East, with a projected GDV of about ₹1,100 crore.
The company's filing puts its completed projects at 33 and its delivered homes at more than 5,800 families. Arkade listed on the stock exchanges after an initial public offering of ₹410 crore in September 2024.
What comes next
The company has said it will develop the Bhandup West parcel but has not given dates for design, approvals, launch or possession. Separately, Arkade has outlined plans to launch a flagship residential project in Thane during FY27.
Frequently asked questions
How much is Arkade paying for the Bhandup West land?
Arkade has agreed to buy 100% of Woollen and Textile Industries Limited for ₹146 crore. The company's filing says the full amount has been paid. An earlier MoU signed in September 2025 was for ₹148 crore.
How big is the land parcel?
The parcel in Bhandup (West), Mumbai, measures 14,363.60 sq m.
What is planned for the site?
Arkade plans a premium, contemporary residential development with an estimated gross development value of ₹1,800 crore. The company has not yet announced a launch, unit count, price or possession date for it.
Can buyers book homes at this site now?
No. The project has not been launched, and no prices, configurations or possession dates have been announced for the parcel.
Why is Arkade focusing on Bhandup West?
Chairman and Managing Director Amit Jain cited Bhandup's improving connectivity, expanding infrastructure and growing residential demand, and said the area has become a sought-after residential destination.