Raymond has informed that 'Ten X Realty, a step down wholly owned Subsidiary of the Company, has been selected as the ‘Preferred Developer’ for redevelopment of Kumari Jethi T Sipahimalani CHS (also known as Navjivan Society) located in Mahim West. Spread across 3.6 acres, the project is strategically located at one of the most sought-after residential areas of Mumbai and estimated to have a revenue potential in excess of Rs 1,700 crores over the project period. The Company will pursue this project post internal and external approvals, as required. This is in line with the Company's growth plans of Real Estate development in Mumbai Metropolitan Region and follows its first project outside Thane, in Bandra East, where the company recently commenced construction.
The above information is a part of company’s filings submitted to BSE.
