Raymond Realty's Next Big Move: Joint Venture in Mumbai

Raymond Realty Ltd has launched a joint venture to develop a housing project in Mumbai, with projected revenue of Rs 3,000 crore. The project, located in Kandivali, marks the company's seventh joint development agreement and is part of their strategy to generate Rs 43,000 crore in total revenue.

Raymond Realty Ltd has set its sights on an ambitious housing project in Mumbai with a joint venture valued at Rs 3,000 crore in estimated revenue. The company made the announcement in a regulatory filing on Monday, underscoring their plans for a prime residential development in Kandivali.

Despite the high-profile collaboration, Raymond Realty stopped short of revealing details about the landowning partner or the full size of the land parcel involved. This venture marks the company's seventh joint development project, signaling a robust expansion strategy.

Listed last year, Raymond Realty Ltd is emerging as a prominent real estate player in India. With 100 acres of owned land and multiple joint development agreements, the company aims to achieve a total revenue of Rs 43,000 crore across its upcoming projects.

(With inputs from agencies.)