Raymond Realty has announced its seventh major joint development project in Mumbai, representing a significant milestone in the company's expansion strategy. The project, located in the prime area of Kandivali, carries a gross development value of approximately Rs. 3,000 crores and marks the company's third project in Mumbai's Western Suburbs.

Project Details

The latest joint development initiative continues Raymond Realty's established pattern of strategic partnerships in Mumbai's real estate sector. This Kandivali residential project demonstrates the company's commitment to expanding its presence in India's financial capital through joint venture arrangements.

Leadership Commentary

Commenting on the development, Harmohan Sahni, CEO of Raymond Realty, stated, "As we continue to scale our portfolio across high-quality urban locations, we are on track to compound growth with execution excellence and disciplined capital deployment, while delivering strong end-user demand and sustained investor returns."

Strategic Impact

With this addition, the Gross Development Value of Real Estate projects of the company will be close to Rs. 43,000 crores. This seventh joint development project reinforces Raymond Realty's strategic approach to growth through partnerships in Mumbai, particularly strengthening its foothold in the Western Suburbs market.

Company Position

The project is poised to contribute substantially to the company's future growth and solidify its presence as a key player in Mumbai's competitive real estate landscape. Raymond Realty's consistent focus on joint development arrangements continues to be a key component of its expansion methodology in the metropolitan real estate market.

Raymond Realty Limited has successfully concluded its postal ballot process, with shareholders approving all five special resolutions related to the Raymond Realty Employees Stock Option Plan 2025. The voting results were announced on February 21, 2026, following the completion of the electronic voting period.

Postal Ballot Overview

The postal ballot was conducted exclusively through electronic means, with the record date set as January 16, 2026. A total of 233,748 shareholders were eligible to participate in the voting process. The e-voting period commenced on January 23, 2026, at 9:00 AM and concluded on February 21, 2026, at 5:00 PM.

Resolution Results

All five special resolutions were passed with requisite majority. The voting results demonstrated strong shareholder support across all proposals:

Voting Participation Details

The voting participation varied across different shareholder categories. Promoter and Promoter Group showed near-complete participation with 99.9983% of their shares being voted across all resolutions. Public institutional investors demonstrated significant engagement with 46.2994% participation, while public non-institutional investors had lower but consistent participation rates around 1.04%.

Regulatory Compliance

The postal ballot process was conducted in accordance with Sections 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. National Securities Depository Limited facilitated the remote e-voting process through their designated platform.

Scrutinizer's Certification

Uma Lodha, Company Secretary (Membership No. 5363) from Uma Lodha & Co. Company Secretaries, served as the appointed scrutinizer. The scrutinizer confirmed that the voting process was conducted in a fair and transparent manner, with all regulatory requirements being met. The detailed voting results and scrutinizer's report have been made available on the company's website and NSDL's e-voting platform.

The successful approval of these resolutions enables Raymond Realty to implement its comprehensive employee stock option plan, extending benefits to employees across group companies and establishing the necessary trust structure for plan administration.