Raymond Limited (Real Estate Division) has been selected as the "Preferred Developer" for redevelopment of MIG VI CHS Ltd. located in Bandra East. Spread across 2 acres, the project is strategically located at one of the most sought-after residential areas of Mumbai and estimated to have a revenue potential in excess of INR 20,000 million over the project period. The Company will pursue this project post internal and external approvals, as required.

This is in line with the Company's growth plans of Real Estate development in Mumbai Metropolitan Region. This is the fourth project of the company in Mumbai City outside existing development at Thane.