Raymond soars on launch of its first real estate project in Mumbai
Upstox
1 min read • Updated: February 21, 2024, 1:26 PM
Summary
The company has launched its first project outside Thane ‘The Address by GS, Bandra’. The Bandra residential project in Mumbai is estimated to have a development value of over ₹2,000 crore.
Shares of Raymond are up more than 7% today.
This comes a day after the company launched its first project outside Thane ‘The Address by GS, Bandra’. The Bandra residential project in Mumbai is estimated to have a development value of over ₹2,000 crore.
“The Address by GS, Bandra is a significant milestone in our growth journey as this is our first project beyond Thane,” said the management.
The company said that this strategic move marks the company’s plan for expanding beyond Thane through joint development agreements in Mumbai Metropolitan Region (MMR) region.
This real estate project in Bandra, Mumbai will spread across an area of 2.74 acres. “The project will offer a diverse mix of 2, 3, and 4 BHK apartments along with 30 world class amenities including a 16,000 square feet state-of-the-art clubhouse,” said the company in the exchange filing.
Meanwhile, shares of Raymond have been rallying. The stock is up 9% in 2024. This is on the back of a 17% gain in the last year.