Raymond Plans ₹4,100 Crore Mahim Projects

Raymond Realty is preparing for a major expansion in Mumbai with two joint development projects in Mahim carrying a combined gross development value of more than ₹4,100 crore.

The two developments are part of the company's upcoming launch pipeline and are expected to be introduced during FY27.

The first Mahim project has an estimated GDV of ₹1,800 crore and approximately 0.41 million sq ft of RERA area.

The second is larger in value, with an estimated GDV of ₹2,300 crore and around 0.39 million sq ft of RERA area.

Together, the projects represent approximately 0.80 million sq ft of RERA area.

Mahim Becomes Key Mumbai Market

The planned launches will strengthen Raymond Realty's presence within Mumbai after the developer established a significant portfolio in Thane and expanded through joint development agreements across the city.

Mahim offers access to South and Central Mumbai as well as the western suburbs, making it an important residential location for developers targeting premium homebuyers.

Large redevelopment and joint development opportunities are also becoming increasingly important in established Mumbai neighbourhoods where vacant land parcels are limited.

Pre-Sales Jump 98%

The Mahim pipeline comes as Raymond Realty reported strong sales growth during the second quarter of FY27.

Pre-sales reached ₹902 crore, representing a 98% year-on-year increase, even though the company did not launch a new project during the quarter.

Collections increased 67% to ₹682 crore.

For the first half of FY27, pre-sales reached ₹1,602 crore, up 111% from ₹760 crore during the corresponding period last year.

Launch Details Awaited

Raymond Realty expects the upcoming Mahim projects to support its growth during the remainder of FY27.

However, detailed configurations, carpet areas, pricing, amenities and specific launch dates for the two projects have not yet been announced.

These details will determine how the developments are positioned within Mahim's residential market.

Sandeep Sadh’s Take:

₹4,100 crore of planned development across two Mahim projects is significant for one micro-market. Mahim's central location and connectivity make it particularly attractive for premium redevelopment and joint development opportunities.