Raymond's Arm Signs Pact to Co-Develop Mumbai Residential Project
Ten X Realty East, a step-down subsidiary of textile and clothing company Raymond (NSE:RAYMOND, BOM:500330), has entered into joint development agreement for a residential project at Wadala in Mumbai, according to a Tuesday filing to the Indian stock exchanges.
The project is estimated to have a gross development value of about 50 billion Indian rupees.
With the new project, the company's real estate projects gross development value will near the 400 billion-rupee-mark.
Shares of the company were down over 1% in recent trade.
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