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Arkade Developers acquires Filmistan Studios in Mumbai for Rs 183 crore

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Realty firm Arkade Developers Ltd has acquired `Filmistan Pvt Ltd`, which owns 4 acre land in Mumbai, for Rs 183 crore to develop a housing project with an estimated revenue of Rs 3,000 crore.

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 company said in a regulatory filing on Thursday.

The company`s board approved the execution of a Share Purchase Agreement (SPA) for the acquisition of 100 per cent shares in Filmistan Private Limited (FPL).

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