Arkade Developers Limited (ARKADE)
₹118.56 -0.38% last close, 16 Oct
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Arkade Developers' revenue was ₹197 Cr (+49.9% year on year, +0.3% on the previous quarter), and net profit ₹-110 Cr (against a profit a year earlier); the operating margin was 19.3%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹197 | +49.9% | +0.3% |
| Operating profit | ₹38.0 | -14.5% | -29.6% |
| Net profit | ₹-110 | to loss | to loss |
| EPS (₹) | -5.90 | to loss | to loss |
| Operating margin | 19.3% | — | — |
ARKADE delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 49.57% of the ARKADE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 42.18%. That is close to its usual level. Turnover was only ₹68 lakh, so a handful of trades can move this figure. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 50.5% · 20.6% · 30.8% · 47.5% · 49.6%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Arkade Developers released a 2-year post-IPO update highlighting an expansion of its upcoming project pipeline to 15 projects with a projected Gross Development Value (GDV) of ₹18,000 crore, up from ₹2,800 crore in August 2024. Pre-sales expanded at an 18% CAGR to ₹901 crore in FY26, while FY26 total income reached ₹828 crore with an EBITDA of ₹189 crore (23% margin). The company deployed approximately ₹530 crore across 10+ acres in Goregaon and Thane land acquisitions while remaining net-cash positive with ₹102 crore in liquid funds. Upcoming saleable carpet area increased by over 500% to 57 lakh sq ft.
- Upcoming project portfolio expanded from 8 to 15 projects, with GDV surging 500% to ₹18,000 crore vs ₹2,800 crore in August 2024
- Acquired two large land parcels in Goregaon and Thane covering 10+ acres for approximately ₹530 crore
- Saleable carpet area of upcoming projects rose 500% to 57 lakh sq ft across 1.75 lakh sq m of plot area
- Pre-sales grew at an 18% CAGR from ₹645 crore in FY24 to ₹901 crore in FY26, with collections reaching ₹728 crore
- Net worth increased 134% to ₹901 crore, while liquid funds expanded 600% to ₹102 crore
Arkade Developers Limited has scheduled an analyst and investor site visit in the Mumbai Metropolitan Region for September 30, 2026. The itinerary highlights four key development projects with an aggregate projected Gross Development Value (GDV) of ₹6,890 Cr, compared to TTM revenue of ₹814 Cr. Key sites include a 4.1-acre greenfield project at Filmistan, Goregaon West (GDV ₹3,500 Cr), and a 6.2-acre greenfield project in Kasarvadavali, Thane (GDV ₹2,000 Cr). The company confirmed that no unpublished price-sensitive information will be shared during the visit.
- Site visit for analysts/investors scheduled for September 30, 2026 across MMR.
- Filmistan, Goregaon West greenfield project spans 4.1 acres with an expected GDV of INR 3,500 Cr.
- Bhandup project offers 3.13 lakh sq. ft. saleable carpet area with a projected GDV of INR 760 Cr.
- Arkade Nest Mulund comprises 2.61 lakh sq. ft. saleable area with a projected GDV of INR 630 Cr.
- Kasarvadavali, Thane project covers 6.2 acres with an estimated GDV of INR 2,000 Cr.
Arkade Developers Limited has announced a virtual group investor meeting (Valorem CXO Meet) scheduled for September 16, 2026, at 4:00 PM IST. The management will discuss corporate performance, strategy, and business updates with institutional investors. In the accompanying profile, the company noted Q1-FY27 presales of ₹155 crore (up 9.3% YoY) and collections of ₹164 crore, alongside a stated gross development value (GDV) pipeline of approximately ₹20,000 crore. The filing confirms that no unpublished price-sensitive information (UPSI) will be discussed.
- Virtual group investor meet scheduled for September 16, 2026, at 04:00 PM IST via Valorem Advisors
- Company highlighted Q1-FY27 presales of ₹155 crore (up 9.3% YoY) and collections of ₹164 crore
- Reported a total project development pipeline of ~₹20,000 crore in GDV with over 2 million sq. ft. under development
- Historical track record includes 32 completed projects delivering >5.5 million sq. ft. to 5,500+ families
Arkade Developers Limited has issued an intimation regarding the dispatch of letters to shareholders without registered email addresses concerning its upcoming 40th Annual General Meeting (AGM) and FY 2025-26 Annual Report. The AGM is scheduled to take place virtually on Tuesday, September 22, 2026, at 3:00 PM IST. The cut-off date for remote e-voting eligibility is set for September 15, 2026. The remote e-voting window opens on September 18, 2026 (9:00 AM IST) and closes on September 21, 2026 (5:00 PM IST).
- 40th Annual General Meeting scheduled for Tuesday, September 22, 2026, at 3:00 PM IST via VC/OAVM
- Cut-off date for remote e-voting set as Tuesday, September 15, 2026
- Remote e-voting starts on September 18, 2026 (9:00 AM IST) and concludes on September 21, 2026 (5:00 PM IST)
- Communication sent to shareholders without registered emails to access the FY 2025-26 Annual Report online
Arkade Developers Limited has issued the notice for its 40th Annual General Meeting scheduled for September 22, 2026, via Video Conferencing. Key agenda items include the adoption of FY26 financial statements, the re-appointment of director Arpit Vikram Jain, and ratification of cost auditor remuneration of Rs 82,600. Additionally, the company seeks shareholder approval for the 'Arkade ESOP 2026' scheme, covering up to 2,00,000 equity shares (representing approximately 0.11% of post-issue equity capital).
- 40th Annual General Meeting scheduled for September 22, 2026 at 3:00 PM IST via VC/OAVM
- Approval sought for 'Arkade ESOP 2026' covering up to 2,00,000 equity shares of face value Rs 10 each
- Proposed ESOP pool is capped at 0.11% of total post-issue equity capital
- Ratification of cost auditor remuneration of Rs 82,600 for FY 2026-27
Arkade Developers Limited has received the Occupation Certificate (OC) for its residential project located in Vile Parle, Mumbai, on August 24, 2026. The project has been completed in accordance with approved plans and local building regulations. Securing the OC is a key operational milestone that enables the company to initiate customer handovers, collect pending milestone receivables, and recognize associated revenue.
- Received Occupation Certificate (OC) for Vile Parle residential project on August 24, 2026
- Project execution completed strictly as per approved municipal plans and building regulations
- Paves the way for customer possession handovers and final milestone cash collections
Arkade Developers has secured four new cluster redevelopment projects across Western Mumbai (Borivali West, Malad West, Kandivali West, and Kandivali East). Spanning approximately 11.17 acres (45,204 sq. m.), these projects represent ~15 lakh sq. ft. of saleable carpet area with an estimated turnover potential of ~₹5,000 crore. The largest project is Yogi Nagar in Borivali West, contributing ~₹3,000 crore GDV across 9 lakh sq. ft. of saleable area. This addition significantly expands the company's project pipeline relative to its TTM revenue of ₹814 crore.
- Added 4 cluster redevelopment projects in Western Mumbai spanning 45,204 sq. m. (11.17 acres)
- Projected aggregate turnover/GDV potential of ~₹5,000 crore with ~15 lakh sq. ft. saleable carpet area
- Yogi Nagar (Borivali West) project alone represents ~₹3,000 crore turnover across 9 lakh sq. ft. carpet area
- Kandivali (East & West) projects total ₹1,100 crore GDV, and Malad West project stands at ~₹900 crore GDV
- Total estimated construction area across the four projects is approximately 51 lakh sq. ft.
Arkade Developers released the transcript of its Q1 FY27 earnings conference call. The company reported pre-sales of ₹155 crore for the quarter, up 9% year-on-year. Management highlighted a total development pipeline with an estimated Gross Development Value (GDV) of ~₹12,800 crore across ~4.2 million sq. ft. of saleable area. For FY27, the company plans new launches with ~₹3,000 crore GDV in the second half, targeting ~₹500 crore in pre-sales from these launches.
- Q1 FY27 pre-sales rose 9% YoY to ₹155 crore.
- Total project pipeline expanded to an estimated GDV of ~₹12,800 crore across ~4.2 million sq. ft. of saleable carpet area.
- Planned FY27 project launches with an estimated GDV of nearly ₹3,000 crore, scheduled primarily for Q3 and Q4.
- Targeted pre-sales of ~₹500 crore from new FY27 launches, assuming ~20% absorption during the launch phase.
Arkade Developers has published the audio recording of its investor conference call for the quarter ended June 30, 2026. This follows a volatile FY26 where the company reported TTM revenue of Rs 814 Cr but a thin PAT of Rs 4 Cr due to a significant loss in the March 2026 quarter. The call provides management's perspective on the execution of its Rs 6,300 Cr GDV pipeline and the integration of the Woolen and Textile Industries acquisition. Investors can access the recording to understand the recovery trajectory after the previous quarter's bottom-line pressure.
- Audio recording link for the Q1 FY27 earnings call released on August 12, 2026
- Company is managing a robust pipeline with a Gross Development Value (GDV) of Rs 6,300 Cr
- Ongoing development projects currently exceed 2 million sq. ft. in the Mumbai region
- Acquisition of Woolen and Textile Industries adds a potential GDV of Rs 1,000 Cr
- Company maintains a promoter holding of 71.19% as of March 2026
Arkade Developers reported a mixed Q1 FY27 with revenue from operations at ₹147 Cr, down 7.8% YoY. Profit After Tax (PAT) stood at ₹19.1 Cr, a 33.7% decline compared to Q1 FY26, though it represents a significant recovery from the ₹110 Cr loss reported in Q4 FY26. Operational metrics showed resilience with booking values growing 9.26% YoY to ₹155.1 Cr and average price realizations increasing 6.14% YoY to ₹31,401 per sq. ft. The company maintains a robust balance sheet with a net debt-to-equity ratio of just 0.01x.
- Booking value increased 9.26% YoY to ₹155.1 Cr, despite a 48.8% sequential decline from Q4 FY26.
- Average price realization improved to ₹31,401 per sq. ft., up 6.14% YoY and 14% QoQ.
- Total future project pipeline estimated at ₹12,800 Cr Gross Development Value (GDV) across 4.25 million sq. ft.
- Planned launches for the remainder of FY27 estimated at ₹3,000 Cr GDV.
- Net debt remains minimal at ₹5 Cr, resulting in a Net Debt/Equity ratio of 0.01x.
Arkade Developers reported a net profit of ₹19 Cr for Q1 FY27, marking a sharp recovery from the ₹110 Cr loss in the preceding quarter (Mar 2026). Pre-sales grew 9% YoY to ₹155 Cr, while collections remained steady at ₹164 Cr. The company maintains a robust balance sheet with minimal net debt of ₹5 Cr. Most significantly, the project pipeline now stands at an estimated Gross Development Value (GDV) of ₹12,800 Cr, providing high revenue visibility relative to its current scale.
- Pre-sales for Q1FY27 increased 9% YoY to ₹155 Cr from ₹142 Cr.
- Reported Total Revenue of ₹149 Cr with a Net Profit of ₹19 Cr for the quarter.
- Estimated GDV pipeline expanded to ₹12,800 Cr across 4.25 million sq. ft. of saleable area.
- Maintained a very low Net Debt-to-Equity ratio of 0.01 with net debt at just ₹5 Cr.
- Operating EBITDA margin stood at 19% with stable Gross Profit margins of 29%.
Arkade Developers reported a consolidated revenue of ₹146.97 Cr for Q1 FY27, representing a 7.8% decline compared to ₹159.45 Cr in Q1 FY26. Net profit for the quarter stood at ₹19.21 Cr, down 33.2% from ₹28.76 Cr in the same period last year. A critical disclosure was made regarding an FIR filed against a former senior employee for alleged diversion of customer transactions and forgery of car parking agreements. While the company states no material adjustment is currently needed, the final financial impact of this misconduct remains undetermined.
- Revenue from operations for Q1 FY27 reached ₹146.97 Cr, down from ₹159.45 Cr YoY.
- Net Profit for the quarter was ₹19.21 Cr, resulting in a Basic EPS of ₹1.03.
- Construction costs for the period totaled ₹104.11 Cr, accounting for approximately 71% of total revenue.
- Disclosure of an ongoing investigation into alleged wrongful financial gain and forgery by a former senior employee.
- The company reported a recovery to profitability after a significant loss in the preceding quarter (March 2026) caused by a ₹182.17 Cr impairment.
Arkade Developers Limited has scheduled its Q1 FY27 earnings conference call for August 12, 2026, at 5:00 PM IST. The management, including the Chairman & MD and CFO, will discuss the performance for the quarter ended June 30, 2026. This follows a fiscal year (FY26) where the company achieved Rs 814 Cr in revenue but saw a significant net loss of Rs 110 Cr in the March 2026 quarter. Investors will be looking for updates on the company's Rs 6,300 Cr GDV pipeline and the status of its Mumbai redevelopment projects.
- Earnings conference call scheduled for August 12, 2026, at 17:00 IST
- Management representation includes Chairman & MD Mr. Amit Jain and CFO Mr. Samshet Shetye
- Focus on performance for the quarter ended June 30, 2026 (Q1 FY27)
- Company currently has a pipeline of INR 6,300 Cr Gross Development Value (GDV)
- Development in progress stands at 2+ million sq. ft. with 5.5+ million sq. ft. delivered
Arkade Developers has announced the launch of 'Arkade Sapphire,' a boutique residential and commercial development in the premium Santacruz West micro-market of Mumbai. This launch is part of the company's stated strategy to focus on high-value redevelopment projects in Mumbai's central corridors, contributing to its Rs 6,300 Cr GDV pipeline. While specific project-level financial details were not disclosed in this filing, the company is targeting a 31% growth rate. This follows a fiscal year (FY26) where the company achieved Rs 814 Cr in revenue but saw a significant dip in net profit to Rs 3.68 Cr.
- Launch of 'Arkade Sapphire' in the high-value Santacruz West micro-market of Mumbai.
- Project designed as a boutique development featuring both residential and commercial premises.
- Contributes to the company's overall development pipeline of 2+ million sq. ft. currently in progress.
- Aligned with the company's broader Rs 6,300 Cr Gross Development Value (GDV) pipeline strategy.
- Leverages the company's 39-year legacy and 'before-time' delivery reputation in the MMR region.
Arkade Developers has disclosed a fraud involving its former Chief Sales Officer (CSO), Mrs. Amita Singh, with an estimated financial impact of ₹2 crore. The misconduct included diverting customer transactions to brokerage entities and forging a Director's signature on car parking agreements. The company terminated her services on June 17, 2026, and has filed an FIR with the Samata Nagar Police Station. Although the financial impact is small relative to TTM revenue, the incident highlights a breach in internal governance and document security.
- Estimated wrongful financial gain of approximately ₹2 crore currently under police investigation.
- Termination of the Chief Sales Officer's services was effective as of June 17, 2026.
- Allegations include the forgery of a Director's signature on registered agreements for additional car parking spaces.
- FIR registered under multiple sections of the Bharatiya Nyaya Sanhita, 2023, including forgery and misuse of official position.
Financial Performance
Revenue Growth by Segment
Consolidated revenue for Q2 FY26 reached INR 265 Cr, representing a 30% YoY growth compared to INR 203 Cr in Q2 FY25. H1 FY26 revenue stood at INR 430 Cr, a 31% YoY increase from INR 329 Cr. Growth is driven by the residential segment, specifically the Western and Central corridors of Mumbai.
Geographic Revenue Split
100% of revenue is derived from the Mumbai Metropolitan Region (MMR), India. The company is strategically expanding from its Western suburb stronghold into the Eastern/Central corridors, notably Bhandup and Mulund.
Profitability Margins
Net Profit Margin for FY24-25 was 30.88%, up from 25.86% in FY23-24. However, Q2 FY26 PAT margin was 17.3%. The increase in annual margins was driven by higher-margin redevelopment projects and efficient in-house execution.
EBITDA Margin
EBITDA margin for Q2 FY26 was 24%, an improvement from 21.5% in Q1 FY26. EBITDA for Q2 FY26 was INR 63 Cr, up 8% YoY. H1 FY26 EBITDA margin stood at 23% with an absolute value of INR 98 Cr.
Capital Expenditure
The company recently entered a share purchase agreement to acquire Woolen and Textile Industries Limited for INR 148 Cr to secure a land parcel in Bhandup West. Total GDV added recently amounts to INR 6,300 Cr.
Credit Rating & Borrowing
The company maintains a 'Zero Net Debt' position. The Debt Equity Ratio improved by 38.10% YoY, falling from 0.21 to 0.13 in FY24-25. Debt Service Coverage Ratio increased by 137.25% to 1.21 times.
Operational Drivers
Raw Materials
Key materials include steel, cement, and construction labor. While specific % of total cost per material is not disclosed, the company utilizes an 'in-house project management' model to control these costs.
Import Sources
Sourced domestically within India, primarily from suppliers serving the Maharashtra/MMR construction market to support projects in Malad, Vile Parle, and Bhandup.
Key Suppliers
Not specifically named in the documents, but managed through an internal 'purchase and contracts' team to ensure end-to-end control.
Capacity Expansion
Current development in progress is 2+ million sq. ft. with 5.5+ million sq. ft. already delivered. The company has a pipeline of 5 more projects set to launch in coming months and added 14,363 sq m of land in Bhandup.
Raw Material Costs
Inventory turnover ratio decreased by 31.03% to 0.60 times in FY24-25, suggesting a higher volume of work-in-progress as new projects like Arkade Vistas and Arkade Views scale up.
Manufacturing Efficiency
The company follows an 'Asset Light Model' and 'Quick Turnaround' strategy, focusing on IRR by delivering projects before RERA deadlines to trigger faster revenue recognition.
Logistics & Distribution
Not applicable as a real estate developer; however, marketing and sales are handled by an in-house team to manage customer acquisition costs.
Strategic Growth
Expected Growth Rate
31%
Growth Strategy
Growth will be achieved through a robust pipeline of INR 6,300 Cr GDV, the acquisition of Woolen and Textile Industries for INR 1,000 Cr GDV potential, and a shift toward high-value redevelopment projects in Mumbai's central corridors. The company is also diversifying into facility management via its new subsidiary, Arkade 360 Facility Management.
Products & Services
Premium residential apartments, luxury housing (priced INR 4 Cr and above), redevelopment projects, and integrated facility management services.
Brand Portfolio
Arkade, Arkade Developers, Arkade 360 Facility Management.
New Products/Services
Launch of Arkade 360 Facility Management Private Limited to provide integrated facility services, expected to create a recurring revenue stream post-handover.
Market Expansion
Expansion into the Eastern Corridor of Mumbai, specifically Bhandup West and Mulund, targeting high-density urban micro-markets.
Market Share & Ranking
Leading MMR developer with a 39-year legacy; specifically recognized for 'before-time' delivery in the Mumbai redevelopment space.
Strategic Alliances
Acquisition of 100% shareholding in Woolen and Textile Industries Limited; Scheme of Demerger involving Filmistan Private Limited.
External Factors
Industry Trends
The Indian real estate sector is projected to grow from USD 200B (2021) to USD 1T by 2030. There is a growing preference for nuclear families and luxury housing, with home sales up 77% since FY19.
Competitive Landscape
Competes with other MMR-based developers in the redevelopment and greenfield residential space; differentiates through in-house project management and timely delivery.
Competitive Moat
Durable advantage through 'execution-first' track record and 'Zero Net Debt' status. The ability to deliver projects ahead of schedule creates high customer trust and lower financial risk compared to over-leveraged competitors.
Macro Economic Sensitivity
Highly sensitive to India's GDP growth (6.5% in FY25) and urbanization trends. A 1% change in repo rates significantly impacts home loan affordability.
Consumer Behavior
Shift toward luxury housing (INR 4 Cr+) and a preference for 'ready-to-move-in' homes with Occupation Certificates (OC) to avoid GST and construction risk.
Geopolitical Risks
Minimal direct impact as operations are localized to Mumbai, though global supply chain issues can impact raw material pricing (steel/cement).
Regulatory & Governance
Industry Regulations
Compliance with RERA (Real Estate Regulatory Authority) for project timelines and SEBI Listing Regulations for corporate governance. Integrated facility management services are subject to local municipal and labor standards.
Environmental Compliance
The Risk Management Committee monitors ESG-related risks as part of its sustainability framework.
Taxation Policy Impact
Recent GST reductions have improved home affordability. The company's effective tax rate is reflected in the 22.59% PAT margin for FY25.
Legal Contingencies
The company has an internal legal team to manage redevelopment contracts and land titles. No specific high-value pending court case amounts were disclosed in the provided documents.
Risk Analysis
Key Uncertainties
Project execution delays and regulatory approval bottlenecks in Mumbai could impact the planned FY26-27 launch pipeline. Real estate cyclicality and interest rate volatility pose a 10-15% risk to sales velocity.
Geographic Concentration Risk
100% revenue concentration in the Mumbai Metropolitan Region (MMR), making the company vulnerable to local regulatory changes or regional economic downturns.
Third Party Dependencies
Low dependency due to 'strong in-house resources' for legal, sales, and project management, though dependent on external contractors for specialized construction labor.
Technology Obsolescence Risk
The Risk Management Committee monitors cyber security risks; the company is adopting 'future-ready' greenfield development standards.
Credit & Counterparty Risk
Debtors turnover ratio decreased by 70.42% to 31.89 times in FY24-25, indicating a change in collection cycles or credit terms for buyers.
