Raymond's Real Estate Venture Receives Thumbs Up for Demerger, Eyes Rs 25,000 Crore Revenue
Raymond Realty, a subsidiary of Raymond Ltd, has launched its first joint development agreement project in Bandra, Mumbai, and is set to demerge from its parent company to unlock its growth potential.
Real EstateRaymond LtdDemergerStock ExchangeInvestmentBusinessReal Estate MaharashtraJul 05, 2024
The demerged entity, Raymond Realty, has already achieved significant scale, reporting a revenue of Rs 1,593 crore, a 43% year-on-year growth. The company has a land bank of 100 acres in Thane, of which 40 acres is currently under development. There are five ongoing projects worth Rs 9,000 crore on its Thane land, with an additional potential to generate more than Rs 16,000 crore, making a total potential revenue of over Rs 25,000 crore from this land bank.
Recently, Raymond Realty launched its first joint development agreement project (JDA) at Bandra in Mumbai. The company has also signed three new agreements in Mahim, Sion, and one more in Bandra East, Mumbai, taking the combined revenue potential from four JDA projects in the Mumbai Metropolitan Region to over Rs 7,000 crore.
Gautam Hari Singhania, Chairman-cum-Managing Director of Raymond Limited, said, 'Now we have clear three vectors of growth at Raymond group i.e. Lifestyle, Real Estate and Engineering, this corporate action is in line with creating shareholder value.'
Information Raymond Ltd is a leading textiles and apparel company in India, with a diversified portfolio of businesses including lifestyle, real estate, and engineering. The company has a strong presence in the textile industry and has been expanding its real estate business in recent years.
Raymond Ltd is a leading Indian corporation with a rich history and a diverse portfolio of businesses. The company is committed to creating value for its shareholders and stakeholders through its business operations.
Frequently Asked Questions
What is the revenue potential of Raymond Realty's Thane land bank?
Over Rs 25,000 crore
How many acres of land does Raymond Realty have in Thane?
100 acres
What is the combined revenue potential of Raymond Realty's four JDA projects in the Mumbai Metropolitan Region?
Over Rs 7,000 crore
What is the growth rate of Raymond Realty's revenue?
43% year-on-year growth
What is the purpose of the demerger of Raymond Realty from Raymond Ltd?
To unlock the growth potential of the real estate business and attract new investors and strategic partners
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