New Delhi: Raymond Realty will launch six residential projects this fiscal in the Mumbai Metropolitan Region with an estimated revenue potential of about Rs 14,000 crore as the company looks to expand the property business amid strong demand.
In an interview with PTI, Raymond Realty CEO Harmohan Sahni announced that the company will get listed on stock exchanges on July 1, post demerger of the real estate vertical from Raymond Ltd, which will now focus on just the engineering vertical.
The demerger will position Raymond Realty to pursue its growth trajectory as an independent pure-play real estate business.
Sahni highlighted that the company has a huge land bank in the Mumbai Metropolitan Region (MMR).
"In 2019, we started our first project. In the last six years, we have built a significant presence at Thane and Mumbai in MMR," Sahni said.
"The total gross development value (GDV) of about Rs 40,000 crore is what our portfolio looks like today. Out of that Rs 10,500 crore worth of projects have already been launched," he added.
Sahni said the remaining projects would be launched in the coming years.
Asked about the pipeline for the current fiscal, Sahni said the company will launch six projects in MMR this fiscal with sales bookings potential of around Rs 14,000 crore.
The company will offer housing units in a price range of Rs 2 crore to Rs 20 crore in the upcoming projects.
Sahni said the company is focusing a lot on quality and timely completion of projects.
Since its inception, Raymond Realty has completed two housing projects, while six projects are under construction.
Mumbai-based Raymond Realty, one of the leading real estate firms in the country, sold properties worth Rs 2,314 crore last fiscal as against Rs 2,268 crore in the preceding year.
Raymond Realty's revenue rose 45 per cent to Rs 2,313 crore in 2024-25 from Rs 1,593 crore in the preceding year.
Sahni said the company is exploring acquiring more land parcels in MMR under joint development agreements (JDAs) with landowners. It also wants to enter the Pune residential market under the JDA model.
On the upcoming listing of Raymond Realty, the company said the demerger scheme has become effective from May 1, 2025, and the record date is May 14, 2025, for the purpose of determining the eligible shareholders of the demerged company, Raymond Ltd.
According to the scheme of arrangement, each shareholder of Raymond Ltd will receive one share of Raymond Realty Ltd for every share held in Raymond Ltd.
Raymond Group has been a pioneer and leader in fabric manufacturing since 1925, and then forayed into other sectors such as engineering business and real estate.
After demerging its lifestyle business into a separate listed entity in 2024, Raymond Ltd is now carving out the real estate vertical into a separate listed entity.
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