Raymond Realty Will Ride The India Story To Growth, Says Gautam Singhania

Raymond Realty, the real estate business under Raymond Group, will capitalise on India's growth, and the subsequent rise in the sector, said Managing Director Gautam Singhania.

Launched in 2019, the group's real estate business is on track to catch up with its dominant lifestyle division, he said.

"I see real estate catching up to the lifestyle business because it is only a five-year-old business now. It will grow at a faster pace because if India is going to develop and be developed, the sector will expand exponentially," Singhania told NDTV Profit.

The company has already built a strong foundation, transitioning to an asset-light model and focusing on Joint Development agreements to drive growth.

"We started with our own historical land and then shifted to an asset-light model with joint developments. Today, we have about five JDs, showing that we’re bringing a value proposition to our partners," Singhania said.

Raymond’s real estate business contributed 17% to revenues in the last fiscal year, up from 13% in fiscal 2023. With a target of Rs 4,000–4,500 crore in revenues over the next three to four years, the company aims to achieve 20–25% growth in booking value while maintaining 25% margins. 

Projects in Mumbai’s Metropolitan Region are central to the company’s strategy. "We’ve got Queen’s Necklace in Bandra East coming up now, and almost 60% of the inventory from our launches is sold. People are seeing that we’re delivering quality products, fast," Singhania said.

The Thane project, spanning 100 acres, remains a major revenue generator. Roughly 4.5 million square feet are already sold, generating Rs 9,000 crore, and the company expects to add another Rs 25,000 crore from the remaining 60 acres over the next seven to eight years.

Raymond plans to derive 40–45% of real estate revenue from joint developments and 50–55% from the Thane project in the coming years, focusing on the mid-size and premium segments to drive sustainable growth.