Raymond's board approves to invest Rs 65 cr in Ten X Realty East

TXREL was incorporated as step-down wholly owned subsidiary with an object to undertake joint development/redevelopment real estate projects.

The company will invest an amount upto Rs 65 crore through redeemable preference shares.

The terms and conditions of redeemable preference shares would be mutually decided and agreed at the time of issue. The amount proposed for investment would be utilized for the purpose of execution of redevelopment project by TXREL.

Raymond Group has been a pioneer and leader in fabric manufacturing, since 1925, and then forayed into other sectors such as engineering business and Real Estate. Raymond Realty has cemented its position amongst the home buyers in MMR region. Raymond's engineering business is well known with its leadership position in manufacturing files and hand tools and has a significant presence in national and international markets.

Raymond's consolidated net profit tumbled 61.01% to Rs 72.28 crore in Q3 FY25 as against Rs 185.39 crore posted in Q3 FY24. Net sales jumped 40.6% YoY to Rs 953.90 crore in Q3 FY25.

The counter rallied 4.98% to end at Rs 1,481 on Friday, 21 March 2025.