Raymond Realty forays into residential projects with gross revenue potential of ₹30,000 crore in Mumbai

Raymond Realty, owned by Gautam Singhania, has embarked on ambitious residential projects in Mumbai, with a staggering revenue potential of ₹30,000 crore. The majority of these projects are slated for development on 40 percent of the 120 acres of land owned by the company in Thane, a significant part of the Mumbai Metropolitan Region.

Following a strategic restructuring, Raymond Ltd has transitioned primarily into a real estate entity, focusing particularly on Thane while expanding its footprint into central Mumbai. In a recent development, Raymond Realty launched its maiden project in Mumbai's Bandra locality. This joint development venture, spread across 2.74 acres, boasts an estimated development value of ₹2,000 crore. Notably, the initial phase of the project has achieved remarkable success, with nearly all units sold out. Plans for further construction are underway, with the total project area spanning approximately 7 lakh square feet.

Looking ahead, Raymond Realty has two additional projects in the pipeline, slated for launch in Mahim and Sion, strategically positioned in the heart of Mumbai. Each of these projects offers a substantial saleable area of around 5 lakh square feet, collectively contributing an estimated revenue of ₹6,000 crore.

In parallel, the company's ongoing projects in Thane, with a revenue potential of approximately ₹25,000 crore, are scheduled for development over a five-year period. This phased approach aligns with market dynamics, ensuring optimal absorption of housing stock.

Despite being a relatively late entrant into the real estate sector, Raymond Realty has swiftly gained traction in the Thane market. Having already delivered 5,000 homes, the company commands a notable market share in Thane, fueled by infrastructural developments such as the coastal road and upcoming metro connectivity.

Positioned within the affordable premium segment, Raymond Realty's offerings have consistently commanded a premium of 10-15 percent. This premium is attributed to the superior quality of products and expedited delivery timelines, with the company surpassing its commitments by delivering the first 1,000 apartments ahead of schedule.

Financially, Raymond Realty anticipates robust performance, with bookings expected to exceed ₹2,000 crore for the preceding year, marking a significant increase from ₹1,500 crore in the previous fiscal year. Despite annual price hikes averaging 8-9 percent, demand remains robust, with sales accelerating year-on-year.

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