Arkade Developers acquires 100% stake in Filmistan for Rs 182 crore
According to the real estate firm, the intent of the acquisition is to facilitate smoother expansion of operations in the real estate sector.
ADVERTISEMENT
Arkade Developers Ltd has acquired a 100% stake in Filmistan Private Limited (FPL) for Rs 182.95 crore on July 3.
According to the real estate firm, the intent of the acquisition is to facilitate smoother expansion of operations in the real estate sector.
"This acquisition will enable Arkade Developers to develop the iconic 4-acre land parcel situated on SV Road in Goregaon West, popularly known as ‘Filmistan Studios," the realty firm said in a stock exchange filing.
Further, the Mumbai-based developer has planned the development of uber-luxury residential buildings that will feature 3, 4, and 5 BHK residences along with penthouses, across two high-rise towers of 50 storeys each.
Scheduled for a tentative launch in CY-2026, the projected Gross Development Value (GDV) of the project is Rs 3,000 crore.
FPL is involved in the manufacturing, production, distribution, and exhibition of cinematographic films and pictures. The company was incorporated in April 1943. Its FY24 turnover stood at Rs 18.87 lakh. In the previous two fiscals, the company clocked a turnover of Rs 11.25 lakh in FY2022 and Rs 6.83 lakh in FY2023, respectively.
Speaking on the acquisition of the Filmistan Studios, Arkade Developers' Chairman and Managing Director said, "Filmistan Studios holds immense emotional and legacy significance for Mumbai, and we are privileged to be entrusted with shaping its next chapter. This development will go beyond being a premium address, and it will offer a thoughtfully curated lifestyle experience for a discerning few".
Jain said the real estate developer is expanding its footprint in the western suburbs, with a couple of launches in the pipeline for next year.
"The upcoming transformation of the iconic Filmistan Studios will be a pivotal moment in our journey, foraying our position in the uber-luxury segment and reaffirming our promise to deliver spaces that are both timeless and transformative," he added.
Arkade Developers clocked a profit of Rs 33.3 crore in the fourth quarter of fiscal year 2025---an increase of 70% year-on-year. In FY24, the realty firm reported a profit of Rs 19.6 crore during the same quarter. The company's total income surged to Rs 134.34 crore in Q4 FY24 as against Rs 123.13 crore in the corresponding quarter last fiscal.
Overall, in FY25, Arkade Developers' net profit increased to Rs 159.92 crore from Rs 122.91 crore in the previous fiscal. Its total income climbed to Rs 694.60 crore in FY25 versus Rs 635.71 crore in FY24.
