India, Sept. 3 -- Mumbai-based, listed developer Arkade Developers said on September 3 that it has bought 14,364 sq metre land in the Mumbai Metropolitan Region (MMR) for Rs.148 crore.

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 Rs.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 st...