Bengaluru : Ten X Realty West Limited, a wholly owned subsidiary of Raymond Realty, one of India’s fastest-growing real estate developers, and part of the iconic Raymond Group, announced that it has agreed to secure a financial investment of Rs 210 Crore), from ICICI Prudential Real Estate Development Fund.
The ICICI Prudential Real Estate Development Fund, is a scheme of ICICI Prudential Real Estate AIF, a Category II AIF and represented by its investment manager, ICICI Prudential AMC Limited.
Raymond Realty and ICICI Prudential Real Estate Development Fund, in its capacity as a financial investor, will jointly invest in Ten X Realty West Limited, a wholly owned subsidiary of Raymond Realty, as per the terms of the definitive documents, for facilitating the redevelopment for one of its projects in the MMR region.
Commenting on the development Harmohan Sahni, Managing Director & CEO, Raymond Realty said “The proposed financial investment by ICICI Prudential Real Estate Development Fund marks a defining milestone in Raymond Realty’s growth trajectory across the Mumbai Metropolitan Region (MMR). By combining the century long Legacy of trust, excellence & quality of the Raymond Group with a highly disciplined, asset-light strategy, we are uniquely positioned to unlock massive value in Mumbai’s most premium micro-markets. This investment allows us to scale rapidly, optimize capital efficiency, and accelerate project timelines while staying firmly committed to our core promise of sharp execution and delivering long-term value to our stakeholders.”
Raymond Realty continues to cement its position as one of the Mumbai Metropolitan Region’s (MMR) fastest-growing developers. The Total portfolio is now ~ ₹52,000 Crore in Gross Development Value (GDV), reflecting a diversified and high-growth asset base across the MMR.
The Company has successfully executed the strategic pivot to the Asset light Joint Development Agreement (JDA) model. The JDA portfolio now comprises eight projects