New Delhi [India], Raymond's real estate division has announced its selection as the "preferred developer" for the redevelopment of MIG VI CHS Ltd located in Bandra East, the company informed the exchanges in a filing on Saturday.
The project, which is spread over 2 acres, presents a significant revenue potential of over Rs 2,000 crore for the company.
The current project is Raymond's fourth project in Mumbai, highlighting the company's strategic expansion plans in the real estate sector. The project is strategically located in one of the most prestigious residential areas of Mumbai.
“It is informed that Raymond Limited (Real Estate Division) has been selected as the 'Preferred Developer' for the redevelopment of MIG VI CHS Limited located at Bandra East.Spread over 2 acres, the project is strategically located on one of the most... "Mumbai's residential areas are in demand and the project is expected to have a revenue potential of over Rs 2,000 crore over the life span," the company said.
This redevelopment project is in line with the company's broader growth strategy in the Mumbai Metropolitan Region.
Apart from the Bandra East project, Raymond Realty is also actively engaged in developing its 100-acre land parcel in Thane. Since 2019, the company has been monetizing this land bank by launching residential real estate projects.The overall potential revenue from the Thane land parcel alone is estimated to be around Rs 25,000 crore.
The new project in Bandra East is expected to add to the company's real estate portfolio. Raymond is strengthening its position in the real estate market by adding another project in Mumbai.
The company expected that the project's location and the company's iconic brand would attract considerable interest and investment.
On the stock market front, share price of Raymond Ltd witnessed a significant rise, rising over 6 per cent to close at Rs 2450 on Friday.This momentum reflects investor confidence in the company's strategic growth plans and its ongoing and upcoming real estate ventures. ,
The project, which is spread over 2 acres, presents a significant revenue potential of over Rs 2,000 crore for the company.
The current project is Raymond's fourth project in Mumbai, highlighting the company's strategic expansion plans in the real estate sector. The project is strategically located in one of the most prestigious residential areas of Mumbai.
“It is informed that Raymond Limited (Real Estate Division) has been selected as the 'Preferred Developer' for the redevelopment of MIG VI CHS Limited located at Bandra East.Spread over 2 acres, the project is strategically located on one of the most... "Mumbai's residential areas are in demand and the project is expected to have a revenue potential of over Rs 2,000 crore over the life span," the company said.
This redevelopment project is in line with the company's broader growth strategy in the Mumbai Metropolitan Region.
Apart from the Bandra East project, Raymond Realty is also actively engaged in developing its 100-acre land parcel in Thane. Since 2019, the company has been monetizing this land bank by launching residential real estate projects.The overall potential revenue from the Thane land parcel alone is estimated to be around Rs 25,000 crore.
The new project in Bandra East is expected to add to the company's real estate portfolio. Raymond is strengthening its position in the real estate market by adding another project in Mumbai.
The company expected that the project's location and the company's iconic brand would attract considerable interest and investment.
On the stock market front, share price of Raymond Ltd witnessed a significant rise, rising over 6 per cent to close at Rs 2450 on Friday.This momentum reflects investor confidence in the company's strategic growth plans and its ongoing and upcoming real estate ventures. ,
