Raymond Realty Limited has entered South Mumbai after signing a Joint Development Agreement (JDA) for its first residential project in Parel, as per the exchange filings.
The company said the development has an estimated Gross Development Value (GDV) of around ₹8,500 crore, making it Raymond Realty's largest project outside its flagship Thane land parcel. The agreement also marks the company's eighth joint development project in Mumbai.
According to the company, the Parel project is planned as a landmark premium residential development combining luxury, contemporary design, wellness and everyday convenience.
With this addition, Raymond Realty's total real estate portfolio GDV is expected to increase to around ₹52,000 crore, further expanding its development pipeline across Mumbai.
The project is located in one of Mumbai's key residential markets and is expected to offer unhindered sea views along with access to major transport infrastructure.
Raymond Realty said the development will benefit from connectivity through the Atal Setu to the Navi Mumbai International Airport.
The Sewri-Worli Elevated Connector, expected by late 2026, will improve access to Worli, Bandra Kurla Complex (BKC) and Lower Parel, while the planned underground tunnel is set to enhance connectivity to Marine Drive and Nariman Point by 2028.
The upcoming Metro Line 11, linking Bandra and Colaba via Parel, will further strengthen access to commercial and lifestyle hubs.
Gautam Hari Singhania, Chairman, Raymond Group, said the project strengthens Raymond Realty's portfolio through its asset-light, partnership-led strategy and reflects the company's confidence in Mumbai's long-term growth.
Harmohan Sahni, Managing Director & CEO, Raymond Realty Limited, said the agreement marks an important milestone in the company's expansion into South Mumbai.
He added that Raymond Realty remains focused on capital efficiency, scalable growth, disciplined execution and creating long-term value while expanding its presence across the Mumbai Metropolitan Region.
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As of 15 July 2026, at 1:45 PM, Raymond Realty Limited share price was trading at ₹719.60 per share, reflecting a surge of 2.21% from the previous trading session.
According to Raymond Realty, the Parel development marks its entry into South Mumbai and adds another large-scale project to its Mumbai portfolio. The company said the agreement takes its real estate portfolio GDV to around ₹52,000 crore, while reinforcing its expansion through joint development projects.
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Published on: Jul 15, 2026, 4:35 PM IST
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