Mumbai-based real estate firm Arkade Developers has announced the acquisition of a 14,364 sq. metre land parcel in Bhandup (West), Mumbai Metropolitan Region (MMR), for ₹148 crore, further strengthening its presence in the city’s central corridor.

The company has entered into an MoU to acquire a 100% shareholding in Woollen and Textile Industries Ltd, it said in a regulatory filing.

“The proposed acquisition includes a land parcel measuring 14,363.60 sq metres located in Bhandup (West). The total consideration for the deal is ₹148 crore,” Arkade Developers said.

So far, the company has completed 31 projects totalling 5 million square feet and is constructing another 2 million square feet.

“This proposed acquisition underlines Arkade Developers’ vision of creating value-driven developments at strategic locations. With our legacy of trust, timely delivery, and quality construction, we look forward to unlocking the potential of this land parcel and contributing meaningfully to urban transformation,” said Amit Jain, CMD of Arkade Developers.

According to the company, it continues to strengthen its footprint across Mumbai Metropolitan Region (MMR)’s central corridor with landmark developments like Arkade Earth in Kanjurmarg (4 acres), Arkade Nest in Mulund (2 acres), and Arkade Rare in Bhandup (3 acres). It also recently announced a strategic entry into the Thane market with a 6.28-acre land acquisition.

On August 19, the company announced that it had acquired the naming and branding rights for the Bangur Nagar Metro Station in Goregaon. The station will now be called Arkade Bangur Nagar Metro Station, the company said in a statement.

Located on the Metro Line 2A corridor between Dahisar and Andheri, the Bangur Nagar Metro station in Goregaon West is a key hub for daily commuters and the area’s growing residential population.