NEW DELHI, March 9: Raymond Realty Ltd has entered into a joint venture to develop a housing project in Mumbai with an estimated revenue of about Rs 3,000 crore.
In a regulatory filing on Monday, the company informed that it has “signed definitive documents to develop a prestigious residential project in a prime location of Kandivali, Mumbai”.
Raymond Realty did not mention the name of the landowning entity with whom it has signed the joint development agreement (JDA), nor the total size of the land parcel.
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This upcoming project is estimated to have a gross development value (sales value) of about Rs 3,000 crore, it added.
This is the company’s seventh joint development project.
Mumbai-based Raymond Realty Ltd, which got listed last year on stock exchanges, is one of the leading real estate developers in the country.
The company, part of the Raymond Group, has 100 acres of owned land and seven JDAs. These upcoming projects would help the company to generate a total revenue of around Rs 43,000 crore. (PTI)
