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The project is spread across 2 acres, located at one of the most sought-after residential areas of Mumbai and estimated to have a revenue potential in excess of Rs 2,000 crore over the project period.
The company will pursue this project post internal and external approvals, as required. This is in line with the firm's growth plans of real estate development in Mumbai Metropolitan Region.
This is the fourth project of the company in Mumbai City outside existing development at Thane.
Raymond is a leading manufacturer of worsted suiting fabrics and garments in India. It also has a presence in precision engineering products and real estate.
The company reported 18% rise in consolidated net profit to Rs 229 crore on 21.32% increase in revenue from operations to Rs 2,608.50 crore in Q4 FY24 over Q4 FY23.
The scrip hit an all time high of Rs 2,687.15 in today’s intraday session.
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