Raymond’s bags second realty project in city at Wadala

Raymond Realty expands its portfolio with a ₹5,000 crore project in Wadala, marking its sixth joint development in the Mumbai area.

Published on: Apr 2, 2025, 09:02:17 IST

By Ateeq Shaikh

Prefer HTon Google

Share via

Copy link

MUMBAI: Textile major Raymond’s realty venture, Raymond Realty, has expanded its portfolio by entering into an agreement to develop a project in Wadala. This latest project in Raymond’s portfolio is estimated to have a gross development value of approximately ₹5,000 crore, the company said in its statement on Tuesday.

Raymond’s bags second realty project in city at Wadala

Ramond is a relatively recent entrant into the realty sector, with its maiden project, a residential project spread over 14 acres and housing 3,000 apartments in its first phase, launched in April 2019.

“Raymond Limited is pleased to announce that its 100% owned step-down subsidiary, Ten X Realty East Limited, has signed a Joint Development Agreement of a prestigious residential project in the prime location of Wadala, Mumbai,” read the company’s statement.

This project mark’s company’s sixth joint development project, outside of its existing developments in Thane, underscoring its strategic expansion within the Mumbai Metropolitan Region (MMR) and how it is making this sector one of its core businesses. “This project will be the first residential project that the company will be developing in Wadala,” the spokesperson said, “With this addition, the gross development value of real estate projects of the company will be close to ₹40,000 crore.”

Besides residential and commercial projects in Thane, Raymond Realty in February had signed a joint development agreement to develop a residential project in Mahim West. The revenue potential for this project is estimated at ₹1,800 crore.

ABOUT THE AUTHOR
Ateeq Shaikh
Ateeq Shaikh is a Senior Assistant Editor tracking real estate and infrastructure. With over two decades in journalism, he has reported extensively on topics such as metro rail, infrastructure projects, redevelopment in Mumbai, affordable housing, real estate, environmental issues and public transportation. His data driven stories explain the impact of public policy and large scale infrastructure projects on citizens' lives. His recent detailed report on the government's fireside sale of several real estate parcels in Mumbai or nearly one-fifth of habitable Mumbai triggered a signature campaign by activists and the civil society. This plan also faced pushback from people impacted by the government's decision, which he also reported on. Ateeq was instrumental in getting Mumbai Metro One Private Limited, a Public - Partnership (PPP) project, recognised under the Right to Information Act, the first PPP in India under the transparency law. His consistent campaign on technical issues plaguing the Mumbai Monorail, India's only such transportation system, forced authorities to publicly acknowledge the problems and work towards a permanent fix. Despite multiple attempts by the authorities, the system continues to be a white elephant in Mumbai.Read More

Catch every big hit, every wicket with Crickit, a one stop destination for Live Scores, Match Stats, Infographics & much more. Explore now!

Stay updated with all the Breaking News and Latest News from Mumbai. Click here for comprehensive coverage of top Cities including Bengaluru, Delhi, Hyderabad, and more across India along with Stay informed on the latest happenings in World News.