Arkade Developers IPO

Arkade Developers Limited is a real estate development company focused on developing high-end, sophisticated lifestyle residential developments in Mumbai, Maharashtra. The company's business can be divided into two segments: Development/construction of residential buildings on land acquired by the company (new projects); and Redevelopment of existing buildings (Redevelopment Projects) The company is involved in the development of new projects and the redevelopment of existing buildings. Between 2017 and Q1 2024, the company launched 1,220 residential units and sold 1,045 residential units in various markets in MMR, Maharashtra. As of June 30, 2024, the company has developed 2.20 million square feet of residential properties. From CY 2003 to March 2024, the company has completed the redevelopment of 10 projects in the western suburbs of Mumbai and 1 project in south-central Mumbai (through a partnership firm in which the company held a majority stake) with a total built-up area of 1,000,000 square feet (approx.). 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.

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects: Funding is part of the costs to be incurred in developing the Ongoing Projects (viz. Arkade Nest, Prachi CHSL, and C-Unit) (Funding Development Expenses); and Funding acquisition of yet-to-be-identified land for real estate projects and general corporate purposes.

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