India: Raymond sells 20 acre land parcel in Mumbai to Xander-backed VRSA

India: Raymond sells 20 acre land parcel in Mumbai to Xander-backed VRSA

Residential and commercial buildings stand in Mumbai, India. Photographer: Dhiraj Singh/Bloomberg

Raymond Ltd is selling a 20-acre land parcel in Mumbai’s Thane area to Xander-backed Virtuous Retail South Asia (VRSA) for 700 crore as part of the textile firm’s ongoing asset monetization plan.