Raymond Realty Ltd announces 7th Major Joint Development Project in Mumbai

Raymond Realty Limited (the "Company") is pleased to announce that it has signed definitive documents to develop a prestigious residential project in a prime location of Kandivali, Mumbai.

This landmark project is estimated to have a gross development value of approximately Rs. 3,000 crore and marks the Company's third project in Western Suburbs of Mumbai.

This also represents the 7th Joint Development project undertaken by the Company in Mumbai city as per the strategic expansion plan of the Company.

Commenting on the development, Harmohan Sahni, the CEO of Raymond Realty, said, "As we continue to scale our portfolio across high-quality urban locations, we are on track to compound growth with execution excellence and disciplined capital deployment, while delivering strong end-user demand and sustained investor returns." The project is poised to contribute substantially to the Company's future growth and solidify its presence as a key player in the city. With this addition, the Gross Development Value of Real Estate projects of the company will be close to Rs. 43,000 crores.

Shares of Raymond Realty Limited was last trading in BSE at Rs. 391.75 as compared to the previous close of Rs. 391.85. The total number of shares traded during the day was 21322 in over 1165 trades.

The stock hit an intraday high of Rs. 399.55 and intraday low of 389.00. The net turnover during the day was Rs. 8445140.00.

Source : Equity Bulls

Keywords

RaymondRealty JointDevelopment ResidentialProject Kandivali Mumbai