Raymond Limited (the “Company”) is pleased to announce that its 100% owned step-down subsidiary, Ten X Realty West Limited, has signed a Joint Development Agreement of a prestigious residential project in the prime location of Mahim West, Mumbai.
This landmark project is estimated to have a revenue potential of approximately Rs. 1,800 crore and marks the Company’s second venture in this sought-after area of Mumbai. This also represents the 5th 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 second residential project that the company will be developing in Mahim West, 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 addition of this project, the Gross Development Value of Real Estate projects of the company will be close to Rs. 35,000 crores.
About Raymond Limited
With the inception in 1925, Raymond Group has been a pioneer and leader in fabric manufacturing and then forayed in other sectors such as engineering business and Real Estate. After demerging its Lifestyle Business into a separate listed entity in year 2024, Raymond Limited now has two core businesses of Real Estate and Engineering. Raymond Realty that has carved its position in Real Estate sector by leaps and bounds and today is amongst the top 10 Real Estate players in the country. Being the only Real Estate player in India to deliver its maiden project 2 years ahead of RERA timeline.
Raymond Realty has cemented its position amongst the home buyers in MMR region. Raymond’s engineering business is well known with its leadership position in manufacturing files and hand tools and has a significant presence in national and international markets. With the acquisition of Maini Precision Products Limited (MPPL) Raymond’s engineering business will emerge as a large‐scale provider of Engineering, Automotive, EV, Aerospace & Defense components, distinctly positioned to target high‐growth precision engineering products with a significant presence across international as well as domestic markets.
