Raymond Shares Surge 7.29% on Mumbai Real Estate Deal
Real Estate

Raymond Shares Surge 7.29% on Mumbai Real Estate Deal

Raymond Ltd saw its shares soar by 7.29% to Rs 2,649.75 after its real estate division was selected as the preferred developer for the redevelopment of MIG VI CHS in Bandra (East), Mumbai.

The project, sprawling over 2 acres in one of Mumbai's most coveted residential areas, is estimated to generate revenue exceeding Rs 20 billion over its development period. Raymond will proceed with the project following necessary internal and external approvals, aligning with the company's strategic expansion plans in the Mumbai Metropolitan Region.

Raymond, renowned for its worsted suiting fabrics and garments, also operates in precision engineering and real estate sectors. The company's latest financial results revealed an 18% increase in consolidated net profit to Rs 2.29 billion and a 21.32% rise in revenue from operations to Rs 26.08 billion for Q4 FY24, compared to Q4 FY23.

This significant development marks a pivotal step in Raymond?s growth trajectory in the real estate market, bolstering its portfolio and market presence in Mumbai.

Raymond Ltd saw its shares soar by 7.29% to Rs 2,649.75 after its real estate division was selected as the preferred developer for the redevelopment of MIG VI CHS in Bandra (East), Mumbai. The project, sprawling over 2 acres in one of Mumbai's most coveted residential areas, is estimated to generate revenue exceeding Rs 20 billion over its development period. Raymond will proceed with the project following necessary internal and external approvals, aligning with the company's strategic expansion plans in the Mumbai Metropolitan Region. Raymond, renowned for its worsted suiting fabrics and garments, also operates in precision engineering and real estate sectors. The company's latest financial results revealed an 18% increase in consolidated net profit to Rs 2.29 billion and a 21.32% rise in revenue from operations to Rs 26.08 billion for Q4 FY24, compared to Q4 FY23. This significant development marks a pivotal step in Raymond?s growth trajectory in the real estate market, bolstering its portfolio and market presence in Mumbai.

Next Story
Real Estate

Adobe Leases 158,000 Sq Ft at Max Square Noida

Max Estates has announced Adobe’s upcoming move into approximately 158,000 sq ft office space at Max Square, its commercial development on the Noida-Greater Noida Expressway.The transaction is among the larger office leasing deals involving a global technology company in Noida. Max Square is an IGBC Platinum-certified office project developed around the “where nature meets work” concept.The company stated that Max Square, along with Max House and Max Towers, has remained fully leased for over a year. Earlier this year, AML RightSource had also leased around 157,000 sq ft at the developme..

Next Story
Real Estate

Annapurna Hostels Focuses on Student Housing Quality

Annapurna Hostels has increased its focus on high-quality construction and infrastructure development across its student housing projects as demand for organised accommodation continues to rise.The company said it is adopting modern construction techniques and quality building materials to create safe, durable and well-designed hostel infrastructure. Its approach includes improved ventilation, efficient space utilisation and maintaining clean and secure living environments for students.Commenting on the initiative, Kunwar Gaurav Giri said the company aims to develop strong and safe structures ..

Next Story
Real Estate

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

-->