India, April 2 -- Textile major Raymond's realty venture, Raymond Realty, has expanded its portfolio by entering into an agreement to develop a project in Wadala. This latest project in Raymond's portfolio is estimated to have a gross development value of approximately Rs.5,000 crore, the company said in its statement on Tuesday.

Ramond is a relatively recent entrant into the realty sector, with its maiden project, a residential project spread over 14 acres and housing 3,000 apartments in its first phase, launched in April 2019.

"Raymond Limited is pleased to announce that its 100% owned step-down subsidiary, Ten X Realty East Limited, has signed a Joint Development Agreement of a prestigious residential project in the prime location of...