Raymond’s Ten X Realty Signs ₹5,000 Crore Wadala Project Deal

1 Apr 2025 , 12:24 PM

On 1 April 2025, Raymond Ltd said its step-down subsidiary, Ten X Realty East Ltd has entered into a Joint Development Agreement (JDA) for an upcoming residential project in Wadala, Mumbai.

The project, worth around ₹5,000 crore in Gross Development Value (GDV), will be Raymond’s first residential project in Wadala. It is Raymond’s sixth joint development project outside its ongoing real estate developments in Thane. With this, the company’s aggregated gross development value (GDV) across its real estate projects will cross nearly ₹40,000 crore.

In the National Stock Exchange, shares of Raymond Ltd is currently trading at ₹1383.50 which is a 1.39% dip than the previous close. The stock has witnessed a total of 24.08% dip in the last one year, and 9.56% gain in the last one month.

In financial results for its December quarter, Raymond Ltd posted a net profit of ₹72.3 crore (₹185.4 crore) — down 61% The fall in profit was impacted by the quote quarter including profit from the Lifestyle business, which has actually been demerged and is now a different noted entity.

Its revenue from operations jumped 40.6% to ₹953.9 crore against ₹678.5 crore for the corresponding period last year. At the operating level, Raymond’s EBITDA shot up 75.3% to ₹138 crore from ₹78.8 crore a year ago. Quarterly EBITDA margin came at 14.5%, compared to 11.6%, indicating its operational efficiency and higher profitability.