Ten X Realty West Limited, a division of Raymond Limited, has signed a Joint Development Agreement (JDA) for a major residential project in Wadala, Mumbai. The company’s sixth significant collaborative development project outside of its current Thane projects, with an estimated Gross Development Value (GDV) of around Rs 5,000 crore, strengthens its strategic expansion within the Mumbai Metropolitan Region (MMR).
This will be the company’s first residential development in Wadala, further strengthening its footprint in Mumbai’s real estate market. With the inclusion of this project, the total GDV of Raymond Realty’s real estate portfolio nears Rs 40,000 crore, solidifying its position as a key player in the industry.
A JDA for a renowned residential project in Mahim West, with an estimated revenue potential of Rs 1,800 crore, was inked by the company earlier in February. With this building, Raymond further increased its footprint in desirable Mumbai areas and made its second foray into the coveted Mahim neighbourhood.
Raymond Realty has gained strong recognition among homebuyers in the MMR, cementing its status as one of the country’s top 10 real estate developers. Following the demerger of its lifestyle business into a separate listed entity in 2024, Raymond Limited now focuses on two core sectors: real estate and engineering.
The company’s exceptional execution skills have helped it stand out in the real estate industry. Notably, it is still the only Indian real estate company to deliver its first project two years ahead of the RERA schedule, demonstrating its dedication to on-time project completion and superior urban development.
Source: ET Now
