The real estate arm of the renowned Raymond Group, Raymond Realty, on Monday, June 10, through an exchange filing announced that it has been selected for a significant redevelopment project in Bandra East, Mumbai.
The company through the regulatory filling added that the new venture is estimated to generate more than Rs 2,000 crore in revenue over its development period.
Project Details
The redevelopment project of MIG VI CHS Ltd is located at Bandra East, Mumbai covering an area of 2 acre and is expected to generate over Rs 2,000 crore in revenue.
Raymond Realty has been unanimously chosen by the members of MIG VI CHS Ltd. The compony secured this project with 100 per cent votes by the members of society for the redevelopment.
Bandra East is one of Mumbai's most coveted residential areas.
Previous Projects
Joint Development Agreements: Signed for projects in Mahim, Sion, and Bandra.
Estimated Revenue: Over Rs 5,000 crore from these three projects.
Current GDV: With the new Bandra project, the total estimated Gross Development Value (GDV) for Raymond Realty’s ongoing projects in Mumbai will reach around Rs 7000 crore.
About Raymond Realty
'The Raymond Group entered the real estate space with Raymond Realty, a venture headed the Raymond Group chairman and Managing director, Gautam Hari Singhania.
Raymond share performance
The shares of Raymond Limited on Monday at 3:30 PM IST closed at Rs 2,560.00, up by Rs 3.57 per cent.
