Textile giant Raymond forays into real estate business

The land parcel is in the heart of Thane and offers good potential for venturing into the real estate sector.

Published: 03rd April 2019 03:17 PM  |   Last Updated: 03rd April 2019 03:17 PM   |  A+A-

Gautam Hari Singhania, Raymond Group’s Chairman and MD (Photo | EPS)


NEW DELHI: Textile major Raymond announced its foray into the real estate segment on Wednesday.

The Raymond group has set up a new division called 'Raymond Realty' for its maiden venture into the real estate sector, according to a company statement.

"In our continued efforts to enhance value for stakeholders, Raymond has forayed into real estate development in order to monetise the land at Thane," Raymond Chairman and MD Gautam Hari Singhania said.

The land parcel is in the heart of Thane and offers a good potential for venturing into the real estate sector, he added.  The first phase of the project will house 3,000 residential units across 10 towers.

ALSO READ | Life in the fast lane for Bengaluru-based industrialist: Shifting gears between chairman and racer

"In phase 1, Raymond Realty is expected to achieve a top line of over Rs 3,500 crore with a profit margin of over 25 per cent during a period of five years," the company said.

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.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp