Arkade Developers Limited, amongst the leading real estate development companies in Mumbai, announced its unaudited financial results for the quarter and nine months ended 31st December 2024. Company reported revenue growth of 9.3% year-on-year at Rs 560 Cr for the nine months period. EBITDA grew 20.5% to Rs 170 Cr; while Net profit for the nine months rose 19.7% to Rs 124 Cr.
For the third quarter, the Company reported revenue of Rs 231 Cr. EBITDA and Net Profit for the quarter stood at Rs 68 Cr and Rs 50 Cr, respectively.
The strong revenue growth for the quarter and nine months came from robust trajectory of pre-sales achieved over last few quarters, the revenue recognition of which was done in 9MFY25.
Commenting on the Q3 & 9M FY25 results, Mr. Amit Jain, Chairman and Managing Director, Arkade Developers Limited said, " The Company’s performance in the third quarter has been in line with expectations. We have continued to build on the momentum of the first half of the financial year, with strong pre-sales and revenue recognition from the previous months. The real estate market in Mumbai is witnessing a shift in consumer preferences towards more luxury housing. Our strategy is already aligned with this trend as our focus increases towards this sub-segment of the market.
One of our luxury developments, Arkade Aura, situated at Santacruz west received OC one year before the targeted RERA date & we completed this project with 26 Months from CC to OC. Moreover, in January 2025, we added three new redevelopment projects in the western suburbs of Mumbai. These comprise about 5 acres of development with a saleable carpet area of about 5.85 lac square feet. Overall, we have a robust pipeline of 8 upcoming projects in the MMR region.
We are optimistic about this fiscal year, based on our expansion strategy across various Mumbai suburbs, supported by our portfolio of redevelopment projects. Our focus remains on generating sustainable value for all stakeholders.”
