&w=3840&q=100)
Raymond Realty eyes 30% rise in FY26 sales on robust housing demand
Raymond Realty is targeting a 30 per cent increase in its sales bookings this fiscal year to Rs 3,000 crore on strong launch pipeline of residential projects and robust demand.
Raymond Realty, which is getting listed on stock exchanges on July 1 after demerger from Raymond Ltd, will launch six residential projects this fiscal year in the Mumbai Metropolitan Region with an estimated revenue potential of about Rs 14,000 crore.
In an interview with PTI, Raymond Realty CEO Harmohan Sahni said housing demand continues to be strong, especially for reputed real estate developers.
About sales bookings guidance for 2025-26, he said, "We are targeting Rs 3,000 crore pre-sales for the current fiscal year." Sahni said the company believes in keeping conservative target and over-achieving.
Mumbai-based Raymond Realty, one of the leading real estate firms in the country, sold properties worth Rs 2,314 crore last fiscal year 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 highlighted that the company has achieved significant growth since its inception in 2019.
The demerger will position Raymond Realty to pursue its growth trajectory as an independent pure-play real estate business.
Sahni said the company has huge land bank in the Mumbai Metropolitan Region (MMR) and is also partnering with landowners for development of residential projects.
"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. Of that, Rs 10,500 crore worth projects have already been launched," he added.
Sahni said the remaining projects would be launched in the coming years.
Sahni said the company will launch six projects in MMR this fiscal year with sales bookings potential of about 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 inception, Raymond Realty has completed two housing projects while six projects are under construction.
On upcoming listing of Raymond Realty, the company said the demerger scheme has become effective from the May 1, 2025, and the record date is May 14, 2025 for the purpose of determining the eligible shareholders of 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 carving out real estate vertical into a separate listed entity and will focus only on engineering business.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
40 minutes ago
- Business Standard
Globe Civil Projects IPO subscribed 15.26 times
The offer received bids for 17.90 crore shares as against 1.71 crore shares on offer. The initial public offer of Globe Civil Projects received bids for 17,90,07,336 shares as against 1,17,32,392 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (25 June 2025). The issue was subscribed 15.26 times. The issue opened for bidding on 24 June 2025 and it will close on 26 June 2025. The price band of the IPO is fixed between Rs 67 and 71 per share. An investor can bid for a minimum of 211 equity shares and in multiples thereof. The public issue comprises entirely of a fresh issue of up to 1,67,60,560 equity shares of a face value of Rs 10 per equity share. Of the net proceeds from the fresh issue, Rs 75 crore will be used to fund working capital requirements, and Rs 14.255 crore will go towards capital expenditure on the purchase of construction equipment/machinery. The balance is for general corporate expenses. Global Civil Projects, promoted by Ved Prakash Khurana, Nipun Khurana, and Vipul Khurana, is a New Delhi-based integrated EPC company engaged in transport, social, and commercial infrastructure construction. With a strong presence in educational and railway infrastructure, it has completed 37 projects across 11 states and is currently executing 13 projects. As of March 31, 2025, its order book stood at Rs 669.10 crore. The company also operates through joint ventures and derives a major share of revenue from government clients like the CPWD. Ahead of the IPO, Globe Civil Projects on Monday, 23 June 2025, raised Rs 35.69 crore from anchor investors. The board allotted 50.28 lakh shares at Rs 71 each to 6 anchor investors. The firm reported a consolidated net profit of Rs 17.79 crore and total income of Rs 254.66 crore for the nine months ended on 31 December 2024.
New Indian Express
41 minutes ago
- New Indian Express
Government approves Rs 417 crore electronics manufacturing cluster in Uttar Pradesh
In a bid to strengthen electronic manufacturing in the country, the government on Wednesday approved the establishment of an Electronics Manufacturing Cluster (EMC 2.0) in Gautam Buddha Nagar, Uttar Pradesh, with a project outlay of Rs 417 crore. The new cluster will cater to the production of consumer electronics, automotive and industrial electronics, medical devices, computer hardware, and communication equipment. Minister for Electronics and Information Technology, Ashwini Vaishnaw, said the project is expected to attract investments worth Rs 2,500 crore and generate approximately 15,000 jobs. 'The project will lead to the creation of world-class infrastructure and generate 15,000 jobs. It is fully in line with Prime Minister Shri Narendra Modi's vision of promoting manufacturing in India. It reflects the government's sharp focus on job creation and building a Viksit Bharat,' said Vaishnaw.
Indian Express
43 minutes ago
- Indian Express
Centre approves extension of Pune Metro to Chandani Chowk, Wagholi under phase-2
The Centre on Wednesday approved the extension of the Vanaz-Ramwadi route of the Pune Metro as part of works under phase 2. 'The extension of the Metro route from Vanaz to Chandani Chowk and from Ramwadi to Wagholi has received the Union government's approval. Work on the project will start soon,' said Union Minister of State for Aviation Murlidhar Mohol. The Pune Metro has two operational routes: from Vanaz to Ramwadi and from Pimpri Chinchwad to Swargate. Work has already started for extension of the Pimpri Chinchwad-Swargate route till Bhakti Shakti on the Pimpri Chinchwad side and till Katraj from Swargate. Mohol said the two elevated corridors will span 12.75 km and include 13 stations, connecting fast-developing suburbs such as Chandani Chowk, Bavdhan, Kothrud, Kharadi, and Wagholi. The project is scheduled for completion within four years. 'The estimated cost of the project is Rs 3,626.24 crore, which will be equally shared by the Union and state governments. This strategic proposal is a logical extension of the existing Corridor-2 and aligns with the Comprehensive Mobility Plan (CMP), which envisions a continuous corridor from Chandani Chowk to Wagholi Metro to strengthen East–West mass transit in Pune,' said Mohol. The extensions will serve key IT hubs, commercial areas, educational institutions, and residential pockets, increasing the share of public transport and ridership across the network, he said, adding that the new corridors will also integrate at the District Court Interchange Station with Line-1 (Nigdi–Katraj) and Line-3 (Hinjewadi–District Court) to enable seamless multimodal urban travel. The government, as part of its long-term mobility planning for Pune, will integrate the connectivity with intercity bus services from Mumbai and Bengaluru at Chandani Chowk, while those from Ahilya Nagar and Chhatrapati Sambhaji Nagar will connect to Wagholi, allowing passengers to easily access Pune's Metro system. These extensions will also help decongest arterial routes such as Paud Road and Nagar Road, offering safe, fast, and eco-friendly mobility options, said Mohol. After completion of these corridors, the projected incremental daily ridership for the entire Chandani Chowk to Wagholi route is estimated to be 96,000 in 2027, 2.01 lakh in 2037, 2.87 lakh in 2047, and 3.49 lakh in 2057. Pre-construction activities such as topographical survey and detailed design consultancy have already commenced. Ajay Jadhav is an Assistant Editor with The Indian Express, Pune. He writes on Infrastructure, Politics, Civic issues, Sustainable Development and related stuff. He is a trekker and a sports enthusiast. Ajay has written research articles on the Conservancy staff that created a nationwide impact in framing policy to improve the condition of workers handling waste. Ajay has been consistently writing on politics and infrastructure. He brought to light the lack of basic infrastructure of school and hospital in the hometown of Maharashtra Chief Minister Eknath Shinde even as two private helipads were developed by the leader who mostly commutes from Mumbai to Satara in helicopter. Ajay has been reporting on sustainable development initiatives that protects the environment while ensuring infrastructure development. ... Read More
