Raymond Realty Limited on Monday announced its seventh joint development project in Mumbai — a residential redevelopment in Kandivali with an estimated gross development value of ₹3,000 crore. The stock was trading at ₹375.00 on the NSE, down 1.47 per cent from its previous close of ₹380.60.
The Kandivali project is the company’s third in Mumbai’s Western Suburbs and its third redevelopment project in the zone. With this addition, Raymond Realty’s total gross development value across its real estate portfolio is expected to reach approximately ₹43,000 crore.
The company said it has signed definitive documents for the project, though it did not disclose the land area, unit count or expected launch timeline. The announcement was made to stock exchanges under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
CEO Harmohan Sahni said the company remains focused on disciplined capital deployment and execution as it scales across urban locations.
Raymond Realty, which entered real estate in 2019 as part of the Raymond Group, operates primarily in the Mumbai Metropolitan Region. Its residential portfolio spans three brands — TenX, The Address by GS, and Invictus — covering aspirational, premium and luxury segments. The company holds 100 acres of owned land alongside its joint development agreements and counts itself among the top 10 real estate developers in India by gross development value.
The company was formerly known as Raymond Lifestyle Limited and is headquartered in Thane, Maharashtra.