National, 15th July 2026: Raymond Realty Limited (the “Company”) today announced that it has signed a Joint Development Agreement (JDA) to develop a prestigious residential project in a prime location of Parel, Mumbai marking its foray in South Mumbai.
This landmark project carries an estimated Gross Development Value (GDV) of approximately Rs. 8,500 crore, making it the largest project undertaken by the Raymond Realty outside its flagship Thane land parcel to date. It also represents Raymond Realty’s 8th Joint Development project in Mumbai city, reaffirming the strong momentum behind the Company’s strategic expansion plan.
The development gives Raymond Realty a premier opportunity to construct an iconic, large-scale residential project in the heart of the city, offering unparalleled location advantages, unhindered sea views, and exceptional connectivity. The project leverages a highly strategic location, offering immediate connectivity via the newly commissioned Atal Setu to the Navi Mumbai International Airport. It also significantly reduces commute times to major business hubs such as Worli, BKC, and Lower Parel through the Sewri-Worli Elevated Connector, scheduled to open by late 2026, while the upcoming underground tunnel is set to ensure seamless travel to Marine Drive and Nariman Point by 2028.
Commenting on the development, Gautam Hari Singhania, Chairman, Raymond Group said: “Parel has always been at the heart of Mumbai’s evolution and we are proud to add another landmark to Raymond Realty’s growing portfolio through this strategic joint development. Our expansion continues to be guided by an asset-light, partnership-led approach that enables us to unlock value in some of Mumbai’s most sought-after locations. This project reflects our commitment to nation building and our confidence in Mumbai’s enduring growth story shaping the next generation of urban living.”
From connectivity standpoint, the area boasts a future-proof urban transit framework, with the upcoming Metro Line 11, spanning Bandra to Colaba via Parel, set to put the city’s primary commercial and lifestyle nodes within rapid, effortless reach.
Harmohan Sahni, Managing Director & CEO, Raymond Realty Ltd., said: “Raymond Realty has firmly established itself as one of the fastest-growing real estate developers in the Mumbai Metropolitan Region, backed by the Raymond Group’s century long legacy of trust, excellence, and quality. This landmark Joint Development Agreement in Parel marks a significant milestone in our expansion into South Mumbai and underscores our confidence in the long-term potential of Mumbai’s premium residential market. Our disciplined, asset-light model and agile capital structure enable us to unlock high-value opportunities while maintaining capital efficiency. With a focus on scalable growth and strong execution, we continue to create long-term value for our stakeholders and strengthen our presence across MMR.”
The project will contribute meaningfully to the Company’s future growth and fortify its presence as a key player in the city. With this addition, the Gross Development Value of Raymond Realty’s real estate projects will rise to close to Rs. 52,000 crore, underscoring the scale and pace of the Company’s expansion across Mumbai.
About Raymond Realty
Raymond Realty Limited is one of India’s fastest-growing real estate developers, headquartered in Mumbai and part of the iconic Raymond Group. Bringing the Group’s century-long legacy of trust, quality, and excellence into the real estate sector, Raymond Realty is a focused, pure-play branded real estate developer with a strong presence across the Mumbai Metropolitan Region (MMR). Since its foray into real estate in 2019, the company has already carved position amongst the top 10 Real Estate players in the country and delivered landmark residential and commercial projects characterized by superior design, timely execution, and customer-centric innovation. With iconic aspirational, premium, and luxury residential brands (TenX, The Address by GS and Invictus), 100 acre owned land and 6 Joint Development Agreements, the company has an estimated gross development value of approximately ₹520 billion.
