Raymond to enter realty


Textile company Raymond plans to move towards realty sector. The initial project would be to develop the surplus land of 15-20 acres in Thane, where its factory is located. Mr Gautam Singhania, Chairman and Managing Director, Raymond, said in a press conference that the primary focus would be in the residential segment and funding would be from internal accruals. He further said, “This proposal is in line with the strategy of the company to unlock value of the land.” Further he added that it was subject to shareholders’ approval.

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