Realty becomes a core focus for Raymond

Raymond’s real estate focus is fixed squarely on affordable luxury in the Mumbai Metropolitan Region and suburban locations.

The textile and apparel giant which owns the legacy suits and shirts brand Raymon, forayed into real estate in 2019 with Raymond Realty to monetise a 120-acre land bank it holds in Thane but now sees it becoming a core business. The group does projects which are a minimum of Rs 3,000 crore or 4,000 crore or of a million square footage. A total of 2,186 units of the TenX Habitat have been booked till September 2022 which is around 85 per cent of the total inventory launched. The Address by GS premium residential project has received 349 bookings with a booking value of Rs 834 crores, which is also 85 per cent of the total inventory launched. The group has around 60 acres of land parcel for future developments. Going forward, it envisages Raymond Realty to emerge as a core business which will continue and take on new projects in the MMR region. Post Covid Indians have realised the importance of owning a home which offers spaces to enjoy a holistic lifestyle. Though the global headwinds caused due to war, recessionary fears and surging inflation globally are a harsh reality, India is well positioned given the strong domestic market and has benefitted tremendously with the China plus one policy.