Raymond Ltd's Mumbai Housing Project: A Rs 5,000 Crore Venture

Raymond Ltd has entered into a joint development agreement to develop a housing project in Mumbai, with a revenue potential of Rs 5,000 crore. This project marks a significant development for the company's real estate investments, contributing to its growth in the Mumbai Metropolitan Region.

Real estate giant Raymond Ltd has announced a major development project in Mumbai, projecting an impressive revenue potential of Rs 5,000 crore. The company, through its subsidiary Ten X Realty East Ltd, signed a Joint Development Agreement to build a residential project in Wadala.

The project represents a substantial addition to Raymond's portfolio, hinting at a robust growth trajectory in the Mumbai Metropolitan Region (MMR). Raymond Ltd plans to leverage asset-light business models by partnering with landowners for this venture.

With this latest development, Raymond's total Gross Development Value of real estate projects nears Rs 40,000 crore, reinforcing its position as a leading real estate developer.

(With inputs from agencies.)