Raymond has received an approval for development of 20 acres of land at Thane for residential purposes. The board of directors at its meeting has approved for the same. The project is expected to be developed over a period of 5/6 years.
The estimated project expenditure in FY19 will be in the range of Rs 300 crore. The company has secured major regulatory approvals and other construction related approvals are in process.
Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world.
