Raymond Realty is the residential development arm of the century-old Raymond Group, founded in 1925 as a textile and manufacturing enterprise before making its debut in real estate in 2019 with its first project in Thane. The transition from manufacturing to real estate was anchored in a tangible asset: a land bank spread across approximately 100 acres in Thane, on its former factory land that had been shut over a decade prior. Rather than entering the market as a new speculative developer, Raymond Realty came in with owned land, an established brand, and zero external debt — a combination that has shaped both its product positioning and its delivery record.
Launched in 2019, Raymond Realty became one of the five largest developers in the Mumbai Metropolitan Region by FY2024–25 revenue. Between FY20 and FY25, it achieved a 45% compounded annual growth rate in bookings, 55% in collections, 67% in revenue, and 101% in operating profit. That trajectory is unusual for any developer entering a mature market at scale, and it is partly explained by the quality of the Thane land bank itself.
Backed by the legacy and credibility of the Raymond Group, the company has made a decisive shift from manufacturing to real estate, leveraging its 100-plus-acre land parcel in Thane to launch well-positioned residential offerings. The Thane land parcel alone carries an estimated revenue potential of Rs 25,000 crore. All Raymond Realty projects in Thane sit on contiguous or adjacent land along the same arterial corridor, which means buyers at any Raymond address in Thane are effectively part of an evolving, developer-controlled precinct rather than a standalone tower surrounded by unrelated buildings.
All Raymond Realty projects are located along Pokhran Road No. 1 and 2, a prime residential corridor with immediate access to the Eastern Express Highway and Ghodbunder Road. This concentration is deliberate. The developer controls the micro-market narrative — the scale of landscaping, the quality of retail at the podium level, the consistency of construction finish — in a way that scattered, single-plot developers in MMR cannot.
Raymond Realty's maiden project was TenX Habitat, an aspirational district spread across 14 acres in Thane housing 3,100 residential units. The execution of that project set the tone for how the market now prices Raymond's delivery promises. The company delivered the first three towers of the TenX Habitat project two years ahead of the RERA timeline, which in the MMR context — where delays are common and buyer confidence in under-construction inventory is perennially tested — created a measurable demand premium for subsequent launches.
In February 2023, Raymond Realty launched its third project, TenX Era, in Thane and received approximately 100 bookings within seven days of launch, with around 25% of the launched inventory sold within two months. TenX Era comprises three 38-storey towers with 906 apartments in total. The fourth project, The Address by GS 2.0, followed and features a clubhouse with amenities spread across 25,000 sq ft and 70,000 sq ft of high-street retail space.
The most recent addition to Raymond Realty's Thane portfolio is Ten X District 9, which the developer targets to generate Rs 2,000 crore in revenue. Established in 2019, Raymond Realty has rapidly expanded its presence in Thane, utilizing its substantial land bank, with a history of successful project launches including TenX Habitat, TenX Era, and The Address by GS.
Raymond Ten X District 9 is a residential complex near Cadbury Junction at Pokhran Road 1, Thane, comprising a cluster of three towers with spacious 2 BHK and 3 BHK apartments. The project spans approximately 9 acres and features high-rise towers designed for modern living. It offers smart-sized 2 BHK homes ranging from 632 sq ft, with carpet areas extending up to 810 sq ft across configurations. The enclave uses Mivan formwork technology, which delivers structural longevity and a superior finish compared to conventional construction methods.
The project is crafted as a self-sustained ecosystem with 75-plus lifestyle amenities, expansive green spaces, and purpose-built infrastructure. A grand 26,500 sq ft clubhouse anchors the development, alongside amenities including a gym and pilates studio, mini theatre, library, pet park, cricket pitch, tennis lawn, picnic area, yoga pavilion, adventure play zone, and butterfly garden. Each residence is designed according to Vaastu principles.
The project's MahaRERA registration number is PM1331012502633, confirming full legal compliance under Maharashtra's real estate regulatory framework. The RERA-stated possession date is December 2031, with the developer targeting December 2030 based on its established construction pace.
The Cadbury Junction address on Pokhran Road 1 sits at one of Thane West's most navigable intersections. The project connects directly to Ghodbunder Road within 5 minutes, while the Eastern Express Highway — 15 minutes away — provides access to Central and South Mumbai, and Thane Railway Station is 16 minutes from the site. Chhatrapati Shivaji Maharaj International Airport is reachable via the Eastern Express Highway in approximately 42 minutes. For daily rail commuters, Thane Station serves both the Central Line and the Trans-Harbour Line of Mumbai's suburban network.
The upcoming Cadbury Junction Metro Station of Metro Line 4 will further enhance the commuting facility and is expected to be within a 5-minute reach of the project. Smt. Sulochanadevi Singhania School, Jupiter Hospital, Highland Superspeciality Hospital, Odyssey IT Park, and Thane One Corporate Business IT Park are all within minutes of the site, and WEH is 1.1 km away, Lakeshore Mall is 1.6 km, and Jupiter Hospital is 1.8 km from the project.
Pokhran Road has recorded 52.90% property price appreciation over the last ten years, with 17% appreciation in the last year alone and 27% over the last three years. In Q4 of 2024, Pokhran Road reached its highest recorded average price of Rs 22,000 per sq ft. That figure gives buyers a market-rate anchor against which to evaluate Raymond's product positioning in the same corridor.
Premium localities such as Panch Pakhadi and Pokhran Road carry average property prices starting around Rs 19,000 per sq ft, with Pokhran Road among the localities that have witnessed substantial appreciation of up to 35% over the last five years. The infrastructure pipeline reinforcing these numbers is concrete: plans include a Circular Metrolite Line for last-mile connectivity, a flyover in Wagle Estate, an upcoming Thane-to-Borivali tunnel, a double-decker road between Anand Nagar and Ghatkopar, and a coastal road between Khergaon and Gaimukh.
Social infrastructure on and around Pokhran Road includes the schools that bear the Singhania name — Smt. Sulochanadevi Singhania School and Vasant Vihar High School, as well as healthcare at Bethany Hospital and Jupiter Hospital. For retail, Thane residents are served by Viviana Mall, Korum Mall, Lake City Mall, and R Mall.
Raymond Realty's growth strategy in MMR extends beyond the Thane land bank. In February 2025, the company signed a Joint Development Agreement for a residential project in Mahim West, Mumbai, estimated at a revenue potential of Rs 1,800 crore — its second project in that locality. In April 2025, Raymond Ltd announced a joint development agreement for a large-scale residential project in Wadala, Mumbai, carrying an estimated gross development value of Rs 5,000 crore. These expansions coincide with the planned demerger of the property arm from Raymond Ltd, with Raymond Realty set to list independently, allowing the parent to focus on engineering.
Raymond Realty favours a capital-light strategy, frequently employing Joint Development Agreements to grow its project pipeline efficiently — an approach backed by Raymond Ltd's zero-debt policy and ample cash reserves. The six forthcoming MMR schemes are expected to offer homes priced between Rs 2 crore and Rs 20 crore, underlining the developer's stated focus on quality construction and on-time delivery.
Raymond Realty has set a pricing benchmark in Thane and a track record of delivering well ahead of RERA deadlines, with a continuous pipeline of new and under-construction projects. For a buyer in the Mumbai Metropolitan Region evaluating a developer relationship that may span three to five years of construction, that combination of brand heritage, land-ownership, and demonstrated delivery pace is the most substantive due-diligence factor available from public record.