MUMBAI, April 1, 2025 — Raymond Limited (BSE: 500330, NSE: RAYMOND)
Raymond Limited has announced its entry into Mumbai’s upscale Wadala market through a landmark Joint Development Agreement (JDA) with a gross development value (GDV) of approximately ₹5,000 crore. The agreement has been executed via its 100% owned step-down subsidiary, Ten X Realty East Limited.
This marks the company's
sixth joint development venture and its
first residential project in Wadala, underscoring an aggressive growth strategy within the Mumbai Metropolitan Region (MMR). With this addition, Raymond’s total real estate GDV now approaches ₹40,000 crore.
Strategic Expansion into High-Value Markets
The Wadala project reflects Raymond’s strategic pivot to capitalize on premium micro-markets within MMR. Known for its connectivity and proximity to commercial hubs, Wadala offers lucrative potential for upscale residential developments.
“This significant development aligns with Raymond Limited's growth strategy to capitalize on opportunities within the dynamic MMR real estate market,” the company said in its press statement.
Raymond’s Real Estate Transformation
Following the demerger of its lifestyle business in 2024, Raymond Limited has streamlined its focus to two core segments:
Real Estate and Engineering. Raymond Realty, the company’s real estate arm, has rapidly risen to become one of India's top 10 real estate developers. It is also noted as the
only Indian real estate company to deliver its maiden project two years ahead of the RERA timeline.
Engineering Business Scales Up
Raymond’s engineering division, historically known for its leadership in files and hand tools, is also scaling up. The recent acquisition of
Maini Precision Products Limited (MPPL) is set to bolster its capabilities in
automotive, EV, aerospace, and defense components—with a robust footprint across domestic and international markets.
Outlook
With the Wadala project, Raymond strengthens its foothold in one of India’s most competitive real estate corridors. The move is expected to further enhance its brand equity among homebuyers and investors, while unlocking significant revenue streams in upcoming quarters.