Raymond Ltd's Mega Housing Venture in Mumbai: A ₹5,000 Crore Landmark Project

Raymond Ltd has forged a joint development agreement to initiate a housing project in Mumbai with a revenue anticipation of Rs 5,000 crore. This strategic partnership reinforces Raymond's standing in the Mumbai Metropolitan Region and aligns with an asset-light business approach to real estate development.

Raymond Ltd, a prominent name in real estate, has inked a joint development agreement for a prestigious housing project in Mumbai, boasting an estimated revenue potential of Rs 5,000 crore.

According to the company's regulatory filing, the agreement was executed through its subsidiary, Ten X Realty East Ltd, focusing on a residential project in Wadala, Mumbai. The venture is expected to significantly enhance Raymond's growth trajectory in the Mumbai Metropolitan Region.

The initiative is part of a broader industry trend where real estate companies collaborate with landowners to develop projects without directly acquiring land, thereby maintaining an asset-light business model. This venture bolsters Raymond's portfolio, bringing the company's total project development value close to Rs 40,000 crore.

(With inputs from agencies.)