Raymond Realty, a subsidiary of Raymond Ltd, has secured a significant Mumbai Redevelopment Project, located in Bandra East, is expected to generate a revenue of over Rs 2,000 crore, as per the company’s regulatory filing.
Raymond Realty has been chosen for the redevelopment of MIG VI CHS Ltd, a residential project in Mumbai. The company has received a unanimous vote of confidence from the society members for this project. The board of Raymond Ltd has given its approval for the same.
The redevelopment project is estimated to bring in a revenue of more than Rs 2,000 crore over the project period. This is a significant addition to Raymond Realty’s portfolio, which is already brimming with promising projects.
Before bagging the MIG VI CHS Ltd project, Raymond Realty had signed three joint development agreements for projects in Mahim, Sion, and Bandra. These projects have an estimated development value of over Rs 5,000 crore.
With the addition of the MIG VI CHS Ltd project, the estimated Gross Development Value (GDV) of projects under execution by Raymond Realty will be around Rs 7,000 crore in Mumbai City.
Conclusion:
Raymond Realty’s latest project win is a testament to its expertise in the real estate sector. The company’s focus on Mumbai’s real estate market and its ability to secure high-value projects indicate a promising future for Raymond Realty.
