Textile and apparels behemoth, Raymond Group, which recently forayed into the real estate sector, has announced launch of a residential project in Thane. It has set up a new division, Raymond Realty, for its maiden venture and has kick-started a 14-acre gated community project called Aspirational District. In the first phase of the project it will build 3,000 residential units across 10 towers of 42 storeys, housing 2bhk apartments with a carpet area of 515 sq ft and 640 sq ft. Under Phase-I, the company expects to achieve a top line of over ₹3,500 crore with a profit margin of over 25 percent during a five-year period, said CMD Gautam Hari Singhania, who informed that the company has forayed into real estate development in order to monetize the land located in the heart of Thane city.
📅Published on:
08 April 2019
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