Raymond Ltd selected preferred developer for redevelopment project in Bandra East

Raymond Limited (Real Estate Division) has been selected as the "Preferred Developer" for redevelopment of MIG VI CHS Ltd located in Bandra East. Spread across 2 acres, the project is strategically located at one of the most sought-after residential areas of Mumbai and estimated to have a revenue potential in excess of Rs. 2,000 crores over the project period. The Company will pursue this project post internal and external approvals, as required. This is in line with the Company's growth plans of Real Estate development in Mumbai Metropolitan Region.

This is the fourth project of the company in Mumbai City outside existing development at Thane.

Shares of Raymond Limited was last trading in BSE at Rs. 2469.70 as compared to the previous close of Rs. 2296.90. The total number of shares traded during the day was 63107 in over 6398 trades.

The stock hit an intraday high of Rs. 2498.90 and intraday low of 2301.85. The net turnover during the day was Rs. 153917109.00.

Source : Equity Bulls

Keywords

Raymond INE301A01014 RealEstate PreferredDeveloper RedevelopmentProject BandraEast