 "Raymond")
Raymond on Wednesday said it had sold a 20-acre holding in Thane on the outskirts of Mumbai to Virtuous Retail South Asia (VRSA) for Rs 700 crore. The Singapore-based mall-development company confirmed the deal and said it would invest another Rs 1,700 crore to develop a shopping mall on the land parcel.
This is one of the largest deals this year in the Mumbai Metropolitan Region (MMR). VRSA is a joint venture of global private equity fund Xander and Dutch pension fund APG.
JK Investo Trade, an associate company of the textile major, executed the deal for the land parcel
