Raymond Realty is the real estate arm of the Raymond Group, a business that traces back to 1925 in fabric manufacturing before diversifying into engineering and real estate. The realty vertical was carved out as a separate legal entity and demerged from Raymond Ltd with effect from 1 May 2025, listing on the BSE and NSE on 1 July 2025 after shareholders received one Raymond Realty share for every Raymond share held.
For years the company's identity was tied to a single address: Pokhran Road in Thane, where it holds a 100-acre legacy land parcel. Around 65 acres of that parcel, comprising roughly 6.7 million square feet, is currently under development with a revenue potential of about Rs 16,500 crore, while the entire holding carries an estimated Rs 25,000 crore in development value. Ten X Habitat, an 11-tower, 3,101-unit gated community spread over 14 acres on Pokhran Road, remains the company's most visible delivered project in that market.
Raymond Realty's more recent growth story is built around joint development agreements (JDAs) in the Mumbai Metropolitan Region, an asset-light, partnership-led route that lets it take on cooperative housing society redevelopments without owning the underlying land outright. Its first project outside Thane was in Bandra East, where it won the redevelopment of MIG VI CHS with a unanimous vote from society members and an estimated revenue potential of over Rs 2,000 crore. That was followed by JDAs in Mahim West, including the Navjivan Society redevelopment worth over Rs 1,700 crore and a separate Rs 1,800 crore project routed through its subsidiary Ten X Realty West, plus projects in Sion, Bandra-Kurla Complex, Wadala (its maiden entry into that market, at roughly Rs 5,000 crore GDV), Parel (about Rs 8,500 crore, its eighth JDA in the city), and Kandivali (around Rs 3,000 crore). In BKC specifically, the company has launched an ultra-luxury project with six towers, 23 habitable floors, and IGBC-aligned sustainability features. Combined, these commitments have pushed the company's total real estate development value toward Rs 40,000 crore.
Khar West sits inside the same western-suburb belt, bordered by Bandra West, Santacruz West and Pali Hill, where Raymond Realty has concentrated much of its post-Thane expansion. Its Bandra East redevelopment and BKC launches are minutes from Khar West's own housing stock, much of which consists of ageing cooperative societies on Linking Road, SV Road and the lanes around Khar Road station. This is precisely the profile of building stock that has drawn branded, listed developers into redevelopment deals across the corridor; Birla Estates, for instance, entered the redevelopment market for the first time with a joint arrangement to redevelop Anmol Co-operative Housing Society and Bhartiya Bhavan Co-operative Housing Society in Khar West. That kind of corporate entry signals how Khar West's societies are increasingly being evaluated by developers with the balance sheet and execution track record that Raymond Realty has been building through its Bandra, Mahim, Sion, Wadala and Parel JDAs.
Khar West carries the PIN code 400052 and is known for a compact, low-rise character mixed with a growing number of redeveloped towers. Khar Road railway station is about 0.7 km from the locality's core, the Santacruz Metro Station on Line 3 is roughly 2.6 km away, and Linking Road and SV Road provide the main arterial bus and vehicular links, keeping the airport around 25 minutes away. Proximity to the Bandra-Worli Sea Link and BKC underpins much of the locality's appeal to professionals working in South Mumbai and BKC.
Social infrastructure is dense for a locality this size: Podar International School and Beacon High School serve the education side, while Hinduja Healthcare Surgical and Ramakrishna Mission Hospital cover healthcare. Average residential rates in Khar West have been quoted anywhere between roughly Rs 38,000 and Rs 63,000 per square foot depending on the data source, tower vintage and specific stretch, with five-year appreciation figures ranging from about 10% to nearly 20% across different trackers. The area's upcoming infrastructure pipeline, including the DN Nagar-Mankhurd metro line and the Mumbai Coastal Road project, is expected to add a further 10 to 15% to property values through 2026.
A buyer evaluating Raymond Realty in this part of Mumbai is really evaluating a listed, group-backed developer whose Mumbai city portfolio has grown from zero to roughly Rs 40,000 crore in development value within a few years, largely through redevelopment of exactly the kind of cooperative housing stock that defines Khar West and its immediate neighbours. Sales bookings reflect that pivot: the company posted Rs 2,314 crore in sales for FY25, guided toward Rs 3,000 crore for FY26, and reported Q1 FY27 bookings of Rs 700 crore, up 129% year-on-year, with 64% of that value coming from projects outside Thane. For a locality like Khar West, where land is scarce and redevelopment is the primary route to new supply, that track record in adjoining Bandra, BKC and Mahim micro-markets is the most relevant reference point for what a Raymond Realty address nearby would offer.