Edition:
United Kingdom

Raymond Ventures Into Real Estate Development Via Raymond Realty


Wednesday, 3 Apr 2019 

April 3 (Reuters) - Raymond Ltd ::SAYS CO VENTURING INTO REAL ESTATE DEVELOPMENT THROUGH RAYMOND REALTY.SAYS CO HAS PLANNED PROJECT 'ASPIRATIONAL DISTRICT' WITH 3000-UNITS PROJECT IN PHASE 1.SAYS PROJECT IS EXPECTED TO BE CASH POSITIVE ON A YEAR ON YEAR BASIS AND WOULD NOT REQUIRE SIGNIFICANT DEBT FUNDING.PEAK FUNDING TILL FY20 EXPECTED TO BE 2.50 BILLION RUPEES, MAJOR PART OF FUND ALREADY SPENT IN PLANNING PHASE, OBTAINING STATUTORY APPROVALS.IN PHASE 1, RAYMOND REALTY EXPECTED TO ACHIEVE TOP LINE OF OVER 35 BILLION RUPEES WITH PROFIT MARGIN OF OVER 25 PERCENT DURING PERIOD OF 5 YEARS.