Raymond Realty Strikes Gold in Parel: New Rs. 8,500 Cr Project Propels Total GDV to Rs. 52,000 Cr

Raymond Realty Limited has strengthened its presence in the Mumbai real estate market by signing a Joint Development Agreement (JDA) for a premium residential project in Parel, South Mumbai. The project marks the company’s eighth development in Mumbai and its first venture in the prestigious Parel micro-market.

With an estimated Gross Development Value (GDV) of approximately ₹8,500 crore, the project is the company’s largest development outside its flagship Thane township and significantly expands its growing real estate portfolio.

Major Boost to Development Pipeline

The addition of the Parel project increases Raymond Realty’s total development portfolio to an estimated ₹52,000 crore GDV, reflecting the company’s rapid expansion through its asset-light, partnership-driven development model.

The project is expected to feature premium residential apartments designed to cater to the growing demand for luxury housing in South Mumbai.

Prime Location with Excellent Connectivity

Located in one of Mumbai’s most sought-after residential destinations, the Parel project offers strong connectivity to key commercial and lifestyle hubs across the city.

The development is expected to benefit from several major infrastructure projects, including:

• Mumbai Trans Harbour Link (Atal Setu) provides faster access to the upcoming Navi Mumbai International Airport.
• Sewri-Worli Elevated Connector, expected to improve connectivity to Worli, Bandra-Kurla Complex (BKC), and Lower Parel.
• Upcoming underground tunnel, which will reduce travel time to Marine Drive and Nariman Point.
• Metro Line 11 further enhances public transportation access.

In addition to its strategic location, the project is expected to offer premium lifestyle amenities and panoramic sea views, making it an attractive residential destination.

Management Commentary

Commenting on the announcement, Gautam Hari Singhania, Chairman of Raymond Group, said the new project reflects the company’s asset-light, partnership-led growth strategy, enabling it to expand into some of Mumbai’s most valuable real estate locations while maintaining capital efficiency.

Harmohan Sahni, Managing Director and CEO of Raymond Realty Limited, highlighted that the company’s disciplined development approach and agile capital structure continue to create opportunities for sustainable long-term growth.

Strengthening Presence in Mumbai

Raymond Realty has steadily expanded its footprint across the Mumbai Metropolitan Region (MMR) by leveraging strategic partnerships rather than large land acquisitions. This model enables the company to scale efficiently while minimizing capital requirements.

The Parel project further diversifies Raymond Realty’s portfolio beyond Thane and strengthens its presence in Mumbai’s premium residential segment.