Raymond Realty aims Rs 5,000 cr revenue from new luxury housing project in Mumbai

Raymond Realty on Wednesday said it will develop a new 5.62-acre luxury housing project in Mumbai with an estimated revenue of around Rs 5,000 crore.

In a regulatory filing, Raymond Realty said it has launched a new housing project, 'The Address by GS, Wadala'.

"... The project carries an estimated revenue potential of Rs 5,000 crore...," the company said.


It did not mention the total number of apartments in this project, nor did it disclose the project cost.

Raymond Realty CEO Harmohan Sahni said the company is expanding its presence in the Mumbai market through the launch of the housing project at Wadala.

"With an estimated revenue potential of over Rs 5,000 crore, this development significantly strengthens our long-term value creation pipeline, while reinforcing our asset-light expansion model," he said.

Raymond Realty, which is part of Raymond Group, is one of India's leading real estate developers.

It has a strong presence across the Mumbai Metropolitan Region (MMR).

Since its foray into real estate in 2019, the company developed many residential and commercial projects.