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Raymond’s Real Estate Division Selected for Major Mumbai Redevelopment Project

11 June 20243 mins read by Angel One
The real estate division of Raymond informed us that it has been selected as a preferred developer for the redevelopment of a project at Bandra East Mumbai.
Raymond’s Real Estate Division Selected for Major Mumbai Redevelopment Project
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Raymond Realty, established in 2019, is the real estate arm of the esteemed Raymond Group, renowned for its textile and apparel business. Committed to quality, innovation, and sustainability, Raymond Realty specializes in high-end residential and commercial developments. Notable projects like Ten X Habitat in Thane showcase their dedication to crafting luxurious, contemporary living spaces that cater to the evolving needs of urban dwellers.

Raymond selected as a preferred developer

Raymond has announced its designation as the “Preferred Developer” for the revitalization of MIG VI CHS Ltd in Bandra East. The project spans 2 acres and holds a prime position in Mumbai’s coveted residential landscape. With an estimated revenue potential surpassing Rs. 2,000 crores throughout the project duration, Raymond is poised to pursue this endeavor pending necessary internal and external approvals. This strategic venture highlights Raymond’s commitment to unlocking the full potential of urban spaces and contributing to the vibrant tapestry of Mumbai’s real estate sector.

Raymond’s Thane Land Parcel

Alongside the Bandra East project, the Raymond group is also involved in its 100-acre Thane Land parcel, The real estate company has launched several residential real estate projects on this land. In total, The estimated potential revenue for this land is around Rs.25,000 crores.

Stock Reaction

The stock of Raymond Ltd. is up by 6.65% and currently trades at Rs.2633.50 a piece the stock has given returns of 22% over the past month and is up by 58% in the last year. The stock has made a 52-week high and 52-week low of Rs.2,685 and Rs.1487.60 a piece respectively.

Conclusion: Raymond’s designation as the preferred developer for the redevelopment project in Bandra East signifies a substantial opportunity in Mumbai’s real estate sector. With a prime location and significant revenue potential, Raymond’s commitment to urban development shines through. This venture promises to contribute significantly to the vibrant fabric of Mumbai’s residential landscape. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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