Latest News | Arkade Group to Invest Rs 470 Cr on New Housing Project in Mulund, Mumbai

New Delhi, Jul 4 (PTI) Realty firm Arkade Group will invest Rs 470 crore to develop a housing project at Mulund in Mumbai.

The project 'Arkade Nest' is spread over 2 acres and will have 350 flats.

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"The total investment estimate in this project is Rs 470 crore, out of which Rs.115 crore has been spent so far," Mumba-based realty firm Arkade said in a statement.

Established in 1986, the Arkade Group is planning an initial public offering (IPO) to raise about Rs 600 crore in a fresh issue of shares, it added.

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The group clocked a total sales bookings of Rs 150 crore in the first quarter of this fiscal.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)