-To develop Maiden Residential Project in Wadala, Mumbai-
Bengaluru, 1st April 2025: Raymond Limited (the “Company”) is pleased to announce that its 100% owned step-down subsidiary, Ten X Realty East Limited, has signed a Joint Development Agreement of a prestigious residential project in the prime location of Wadala, Mumbai.
This landmark project is estimated to have a gross development value of approximately Rs. 5,000 crore and marks the Company’s maiden venture in this sought-after area of Mumbai. This also represents the 6th Joint Development project undertaken by the Company outside of its existing developments in Thane, underscoring its strategic expansion within the Mumbai Metropolitan Region (MMR). This project will be the first residential project that the company will be developing in Wadala, Mumbai.
This significant development aligns with Raymond Limited’s growth strategy to capitalize on opportunities within the dynamic MMR real estate market. The project is poised to contribute substantially to the Company’s future growth and solidify its presence as a key player in the region. With this addition, the Gross Development Value of Real Estate projects of the company will be close to Rs. 40,000 crores.
