Raymond Group’s real estate division, launched only five years ago, is quickly catching up to the company’s dominant lifestyle business, according to Chairman and Managing Director Gautam Singhania. With a clear vision of leveraging the vast potential of India’s growing urbanisation, Singhania expressed confidence that the real estate sector, particularly through an asset-light model, will see rapid growth. “India’s real estate market is expanding at an exponential rate, and Raymond is poised to be a significant player in this transformation,” Singhania remarked, highlighting the company’s strategic shift towards joint developments (JDs).
The company’s real estate division already contributes significantly to its revenues. In the last fiscal year, it accounted for 17% of Raymond’s total income, up from 13% in 2023. With ambitious plans to reach Rs 4,000-4,500 crore in revenues in the next three to four years, Raymond is targeting a 20-25% growth in booking values while maintaining an impressive 25% margin. A significant portion of the company’s real estate strategy is focused on the Mumbai Metropolitan Region, where they have ongoing projects, including the Queen’s Necklace in Bandra East. With nearly 60% of the inventory sold, this project is being hailed as an example of Raymond’s commitment to delivering high-quality products quickly and efficiently.
The company’s Thane project, which spans 100 acres, has already generated Rs 9,000 crore from the sale of 4.5 million square feet, with a projected Rs 25,000 crore to come from the remaining land over the next seven to eight years. This project, alongside joint developments, will contribute to 40-45% of Raymond’s future real estate revenue. Raymond is strategically focusing on mid-size and premium segments, recognising that these categories will offer long-term sustainable growth.
Sustainability is at the core of Raymond’s approach to real estate development. The company is committed to eco-friendly practices, integrating green spaces, energy-efficient designs, and sustainable construction techniques into its projects. This alignment with global sustainability trends is not only beneficial for the environment but also makes the company’s offerings more attractive to environmentally-conscious investors and homebuyers. As India continues to urbanise, Raymond’s focus on sustainable growth will help the company meet the demand for both residential and commercial properties while contributing to the country’s broader environmental goals.