Raymond Realty Expands in Mumbai with New Joint Development Project in Kandivali

Raymond Realty Limited has signed definitive documents to jointly develop a residential project in Mumbai's Kandivali, with a revenue potential of ₹3,000 crore, according to a company announcement on March 9. The project is estimated to have a gross development value (GDV) of approximately ₹3,000 crore and marks the company's third project in the Western Suburbs of Mumbai.

This also represents the seventh Joint Development project undertaken by the company in Mumbai city as part of its strategic expansion plan. Harmohan Sahni, the CEO of Raymond Realty, stated, “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.”

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 ₹43,000 crores.

Raymond Realty in January 2026 had announced the launch of a residential redevelopment project in Wadala, Mumbai, with a revenue potential of ₹5,000 crore. The project, titled ‘The Address by GS, Wadala’, will be developed on a 5.62-acre land parcel, the company said in a regulatory filing. The project carries an estimated revenue potential of ₹5,000 crore and features 31-storey towers offering premium 2- and 3-BHK luxury residences, along with 10,500 sq ft of high-street retail space. The project will have a recreational area spanning approximately 1.7 lakh sq ft and a clubhouse of 45,000 sq ft.

Raymond Realty's strategic focus on high-potential locations in Mumbai is driven by the city's robust real estate market and growing demand for premium residential projects. The company's commitment to delivering high-quality developments aligns with the increasing expectations of homebuyers and investors in the region.