The proposed project is estimated to have a gross development value (GDV) of around Rs 3,000 crore and will mark the company’s third development in the western suburbs of Mumbai.

The company said the project will be undertaken under a joint development arrangement and will be its seventh such project in Mumbai, in line with its strategic expansion plans in the city’s key residential markets.

The project is poised to contribute substantially to the company's future growth and solidify its presence as a key player in the city. With this addition, the Gross Development Value of Real Estate projects of the company will be close to Rs. 43,000 crores.

Harmohan Sahni, the CEO of Raymond Realty, said, “As we continue to scale our portfolio across high-quality urban locations, we are on track to compound growth with execution excellence and disciplined capital deployment, while delivering strong end-user demand and sustained investor returns.”

Raymond Realty is in the business of real estate development.

The company’s net profit zoomed 2,118.9% to Rs 66.79 crore on 721% surge in revenue from operations to Rs 757.55 crore in Q3 FY26 over Q3 FY25.

Shares of Raymond Realty fell 2.10% to Rs 373.20 on the BSE.