Raymond Industries Limited is gearing up to venture into into the real estate development business, as an effort towards constant evolution under its vision of Raymond Re-imagined. In order to accelerate its growth plans in the right direction, the company has set up a new enterprise called ‘Raymond Realty’ for its first venture into the real estate sector in India. With main aim and vision of ‘Go Beyond’, the company has undertaken the project to build quality housing for all. A large gated community named ‘Aspirational District’ is spread over 14 acres that celebrates a new epoch in living.
This first phase of the project will house 3000 residential units across 10 towers. Each of these 42-storey towers will house smart-sized 2 bed homes with carpet area configuration of 515 sq. ft. and 640 sq. ft. respectively, under aspirational categories. With the huge scope of plantation they will build thousands of trees spread over 5 acres of central landscaped greens, Raymond Realty would cater to a plethora of first of its kind amenities that cater to the finer nuances of every modern Indian.
Raymond Realty will be focusing on massive sales of its project through its variety of superior products , this project is expected to be cash intensive on an optimistic side on a year on year basis and would not require massive debt funding. The projects will require maximum amount of funding till Financial year 2020 is expected to be Rs. 250 crores only and a major part of this has already been spent in the planning phase and obtaining statutory and regulatory approvals. In the phase 1, Raymond Realty is projected to accumulate a top line growth of over Rs. 3500 crores with a profit margin of over 25% during the period of 5 years.
Gautam Hari Singhania, Chairman and Managing Director, Raymond Limited recently said in an interview, “In our continued efforts to enhance value for stakeholders, Raymond has forayed into Real Estate development in order to monetize the land at Thane. Keeping in mind the fact that this land parcel is in the heart of Thane, it offers a massive positive upside potential for venturing into the Real Estate sector. The decision is backed by our unmatched craftsmanship and eye-for-detail that has helped build the Raymond Legacy over the last century. Going forward, we intend to build a large integrated township that will have the potential to deliver a lifestyle well above the ordinary and still be in reach.”
K. Mukund Raj, CEO, Raymond Realty added, “Raymond Realty is inspired by the principle of ‘Go Beyond’ and it is our endeavor to re-imagine living spaces with contemporary design and the benchmarks of quality that come with the Raymond brand. Every home incorporates our values of Excellence, Style and a Timeless Appeal to create Modern Living. In this project we are offering world class services and amenities that Indian discerning consumers would avail for a delightful livelihood.”
Raymond is a diversified group with majority business interests in textile and apparel sectors as well as presence across diverse segments such as FMCG, Engineering and Prophylactics in national and global markets.
Raymond has one of the largest exclusive retail networks in the country with over 1,000 stores across 400 towns.