Raymond Limited is pleased to announce that its wholly-owned step-down subsidiary, Ten X Realty East Limited, has signed a Joint Development Agreement (JDA) for a prestigious residential project in the prime locality of Wadala, Mumbai.
With an estimated Gross Development Value (GDV) of approximately Rs. 5,000 crore, this venture marks Raymond Limited's first residential project in Wadala and its sixth Joint Development project outside of its existing developments in Thane. This milestone highlights the company's strategic expansion within the Mumbai Metropolitan Region (MMR).
This significant agreement is in line with Raymond Limited's growth strategy to leverage opportunities in the thriving MMR real estate market. The addition of this project will further strengthen the company's presence as a key player in the region.
Following this development, the total Gross Development Value of Raymond Limited's real estate projects will approach Rs. 40,000 crore, reflecting its commitment to sustained growth and leadership in the sector.