Raymond Limited had entered into a Development Management Agreement (DMA) with Colorplus Realty Limited for developing its upcoming realty project - "Raymond Realty Phase I''. In order to gain better operational efficiencies and control on the project, the Company intends to undertake the development on its own. Therefore, the said DMA has been terminated with mutual consent and an application has been made for modification of the RERA Registration. We reiterate that the aforesaid termination of the DMA will not impact the development of the project - "Raymond Realty Phase I" and same is expected to progress as per schedule.