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Arkade Developers reported a 2.48% increase in its net consolidated profit for Q3 FY25, reaching INR 50.08 crore compared to INR 48.87 crore in the same period last year. However, total income dipped by 3.38% to INR 231.40 crore. The company achieved impressive pre-sales growth of 93% year-on-year in Q3, alongside significant progress in collections and pre-sales for 9M FY25. Arkade is expanding its portfolio with three new redevelopment projects in Mumbai's western suburbs, covering a saleable carpet area of 5.85 lakh square feet. The company remains optimistic about Mumbai's luxury housing market.
Arkade Developers has reported a 2.48% increase in net consolidated profit for the quarter ending December 31, 2024. The profit after tax stood at INR 50.08 crore for Q3 FY25, compared to INR 48.87 crore in the corresponding quarter of the previous fiscal, as disclosed in a BSE filing. Advertisement
The company's net consolidated total income, however, declined by 3.38%, amounting to INR 231.40 crore for Q3 FY25, compared to INR 239.49 crore recorded during the same period last year.
Pre-sales for 9M FY25 showed robust growth of 23.8%, reaching INR 556 crore, while collections increased by 16% to INR 478 crore. In Q3 FY25 alone, pre-sales surged by 93% year-on-year, amounting to INR 220 crore, with 73,584 square feet of area sold.
Earlier this month, the company acquired three new redevelopment projects in Mumbai's western suburbs, encompassing approximately five acres of development with a saleable carpet area of 5.85 lakh square feet. In total, the company has a pipeline of eight upcoming projects in the Mumbai Metropolitan Region (MMR).
Ketu Jain has resigned as a non-executive, non-independent director of the company, citing personal and professional commitments. The board has appointed Sandeep Ummedmal Jain as an additional director (whole-time director) for a five-year term, effective January 24, 2025.
Amit Jain, chairman and managing director of Arkade Developers, noted that the company's Q3 performance was aligned with expectations. He observed that Mumbai's real estate market is increasingly shifting towards luxury housing, a trend the company is strategically focused on addressing.
For 9M FY25, Arkade recorded a year-on-year revenue growth of 9.3% to INR 560 crore and an Ebitda growth of 20.5%, amounting to INR 170 crore. Since its listing on major Indian stock exchanges in September 2024, where it raised INR 410 crore via an initial public offering, the company has developed 5.5 million square feet of area, with an additional 2 million square feet under development.
Arkade's ongoing projects are projected to generate a turnover of INR 3,317 crore, while upcoming projects are expected to contribute INR 3,833 crore.
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