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Raymond starts real estate business with Thane residential project - Zint Design
Mumbai: Raymond Ltd on Wednesday said it will invest ₹250 crore to develop its first residential project in Thane near Mumbai, marking its foray into the real estate sector. Announcing the formation of the company’s real estate arm Raymond Realty, chairman Gautam Singhania said the residential project—spread over 20 acres in Thane—is part of a larger plan to monetise the company’s legacy land holdings in the district. Raymond owns 125 acres of land in Thane and has been looking at ways to monetise the asset by conducting an outright sale or developing it in a phased manner. “Our intent is very clear—we