Raymond Realty Not Chasing Gurgaon's Camellias-Like Ultra-Luxury Niche, Focusing On Broader Base

While high-end residences like DLF’s Camellias in Gurgaon have gained attention for offering expansive “life spaces,” Raymond Realty Ltd. is steering clear of that ultra-premium segment in Mumbai as it remains to be a shallow market. According to Chief Executive Officer Harmohan K. Sahni, such projects exist in Mumbai as well, but cater to a very small section of buyers due to their high ticket sizes.

The company listed on the bourses on Tuesday.

Raymond Realty, he indicated, is not focused on that niche and is instead aiming to build for a broader consumer base.

Sahni pointed out that the company is consciously designing products that cater to buyers across life stages and budgets. The approach focuses on space, functionality, and fostering community living—rather than just optimising floor space.

Raymond Realty is not aggressively maximising profits through excessive Floor Space Index usage. The business is comfortable with its current returns and remains focused on delivering customer-centric amenities, the CEO said.

The scale and type of amenities in Raymond Realty’s projects, he suggested, often go beyond what others offer in comparable segments.

The realtor's strong performance in Thane was attributed to a combination of location—proximity to the highway—and product segmentation. The developments are positioned to appeal to different types of buyers, with pricing aligned to affordability.

Post-Covid, homebuyers in Mumbai have shown a greater preference for larger living spaces, and the company’s design strategy reflects this shift in consumer demand, Sahni said.

Raymond Realty Ltd.'s shares listed at Rs 1,025 on the NSE and Rs 1,020 on the BSE on Tuesday. The discovery price had quoted a 3.8% discount over the base price on the NSE and 2.6% on the BSE. The base price was Rs 1,039.3 on the NSE and Rs 1,031.3 on the BSE.