Raymond Realty Renames Wholly-Owned Subsidiary 'Chembur Realty' to 'Ten X Realty North' Effective May 15, 2026

Subsidiary Restructuring: Chembur Realty Renamed to Ten X Realty North

Raymond Realty announced that change in name of its wholly owned subsidiary from Chembur Realty to Ten X Realty North with effect from 15 May 2026.

The renaming reflects the company's broader corporate restructuring of its redevelopment-focused entities. Chembur Realty Limited was officially incorporated on October 29, 2025 with an authorised share capital of ₹1,00,000, divided into 10,000 equity shares of ₹10 each. Under its new name, Ten X Realty North Limited continues this operational focus.

Strategic Purpose: Redevelopment Model

Raymond Realty has taken a significant step to strengthen its presence in Mumbai's real estate market by forming a new wholly owned subsidiary. The move aims to widen its operational scope, focus on redevelopment opportunities, and minimise project-specific risks while enhancing its long-term growth potential in a competitive property landscape.

The rename to Ten X Realty North aligns with Raymond Realty's broader Ten X brand, which encompasses its residential and mixed-use ventures. The naming convention—now pairing the Ten X brand with geographic designations (North for this entity, South for another)—signals a deliberate segmentation of redevelopment operations by geography.

Context: Parallel Subsidiary Activity

On the same date, May 15, 2026, Raymond Realty Ltd. established 'Ten X Realty South Limited', a wholly-owned subsidiary incorporated on May 15, 2026. The company received its Certificate of Incorporation on May 16, 2026. This new entity is specifically tasked with spearheading Raymond Realty's expansion in real estate, particularly through the redevelopment model. The subsidiary's formation is intended to create a focused operational structure designed to strategically manage and mitigate risks associated with specific real estate development ventures.

Developer Background

Raymond Realty is the real estate development arm of the diversified Raymond Group, launched in 2017. It has a strong presence across the Mumbai Metropolitan Region (MMR). Raymond Realty's land bank is spread across an area of 100 acres in Thane on its factory land that was shut over a decade back. Since 2019, the company has been monetising the land bank by constructing residential units on it.