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Textile Major Raymond Plans Entry into Real Estate

Posted On: 2009-09-19

Textile major Raymond will enter the real estate business soon. Addressing a press conference, the company’s CMD Gautam Singhania said Raymond would start developing surplus land that it has. Raymond will primarily focus on the residential business, Singhania said, adding that the realty projects would be funded via the company’s internal accruals.

Singhania further said that the Raymond’s investment plans would depend on land acquisition permits and it expects the approvals to come in three to six months’ time.