Synopsis:
Arkade Developers detected a malware incident affecting some IT systems, took immediate action to secure them, informed authorities, and continues monitoring while maintaining regular operations.
During Tuesday’s trading session, shares of one of the leading luxury real estate development companies in Mumbai tumbled on the stock exchanges after the company reported a cybersecurity incident affecting its IT Systems.
At 12:46 p.m., the shares of Arkade Developers Limited were trading in the red at Rs. 179.35 on BSE, down by around 1.2 percent, as against its previous closing price of Rs. 181.6 with a market cap of Rs. 3,330 crores. The stock has delivered positive returns of over 8 percent in the last one year, but has fallen by around 6 percent in the last one month.
What’s the News
According to the latest exchange filings submitted to the exchange, Arkade Developers Limited has reported that it detected a malware incident affecting certain IT Systems.
The company further stated that immediate action has been implemented to mitigate the impact and secure systems. Additionally, the appropriate regulatory and enforcement authorities have been duly informed. Arkade Developers Limited continues to closely monitor the situation while ensuring that regular business operations proceed without disruption.
Financials & more
Arkade Developers reported a significant growth in its revenue from operations, showing a year-on-year increase of around 27 percent from Rs. 125 crores in Q1 FY25 to Rs. 159 crores in Q1 FY26. In contrast, its net profit decreased during the same period from Rs. 30 crores to Rs. 29 crores, representing a marginal decline of around 3.3 percent YoY.
In Q1 FY26, the company achieved a Pre-Sales Value of Rs. 142 crores, reflecting a 17.1 percent YoY growth; Collections reached Rs. 170 crores, up 41.8 percent YoY; and the Area Sold totalled 48,000 sq. ft., marking a 26.5 percent YoY increase.
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Arkade Developers Limited is primarily engaged in the business of real estate development. The operations of the company span all aspects of real estate development, from the identification and acquisition of land, to planning, execution, construction, and marketing of commercial and residential projects.
The company has completed 31 projects, has 2 million sq. ft. of development currently underway, and has successfully delivered over 5.5 million sq. ft. of development.
Written by Shivani Singh
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