Raymond Realty Aiming For 5000 Crore Joint Development Agreements

Torbit - June 08, 2024 - - 0 |

Leveraging the robust rise of real estate, corporate conglomerate Raymond Group is betting big on Joint Development Agreements (JDA) to drive realty growth.

This leading corporate which has already signed about half a dozen JDAs is eyeing JDAs worth Rs 5000 crore for expanding its retail business. Under this asset light model, Raymond is partnering landowners who provide equity in the form of land assets while it is developing and selling real estate.

Raymond’s mega realty plans involve residential and retail real estate. It is opening 300 retail stores in FY 25 against 250 opened in FY 24. In FY 26, the company will carry on its retail expansion momentum with over 200 new stores. These include Raymond brand stores, Park Avenue, Colour Plus and TRS stores.

Mumbai is going to be its big playground for JDAs. According to its Chairman & Managing Director, Gautam Hari Singhania, the company with 11 million sq ft development space, has a revenue potential of Rs 36000 crore in Mumbai including Rs 30000 crore in Thane and another 6000 crore in Bandra, Sion and Mumbai, besides signing a new project in Chembur.

Like the company’s strong retail pipeline, its residential play is equally significant. This is evident from the fact that its residential sales bookings shot up from Rs 1500 crore in FY 23 to Rs 1500 crore in FY 24.

Max Group Upping its Ante in Senior Living

Max Estates, the real estate arm of the Max Group is scaling up its residential portfolio with senior living playing a significant role, especially as the big demand-supply gap in this niche segment offers a big opportunity. The company which launched and fully sold its first residential project- Estate 128 in Noida last year, aims to double up its pre-sales revenue of Rs 4000 crore in FY 25, compared with Rs 1800 crore in FY24. Going forward, it has plans to launch another residential project in FY26.

According to Sahil Vachani, MD, Max Estates is also taking a joint development route to scale up its real estate business. It recently entered into a joint development agreement for a land parcel of over 18 acres, contiguous to its about 12 acres land on Dwarka Expressway, Gurugram acquired through joint development route.  The newly acquired land parcel has the revenue potential of Rs 9000 crore. Cumulatively Max Estates is looking at Rs 13000 crore of revenue potential in this micro market, eyeing Rs 5000 crore of pre-sales in a year.

In Max Group’s residential real estate play, senior housing is laying a strong foundation for growth. The group, which already has a project each in Dehradun and Noida, is now scaling up its portfolio in this vertical. The company is all set to launch National Capital Region’s first intergenerational residential development in July this year. For this  Max Estates has tied up with Max Group subsidiary – Antara Senior Living. Antara has also signed an agreement with a Hyderabad based developer for executing a senior living project. According to Rajit Mehta, CEO & Managing Director of Antara Senior Living, the company has also tied up with a 1 million sq ft project in Bengaluru, in line with its plans to scale up focus on Southern markets for achieving expansion goals.

Meanwhile, the group’s real estate growth plans revolve around both residential and commercial real estate. Max Estates already has an operational commercial project- Max Square in Sector 129 on Noida Expressway. There is one under-construction commercial project – Max Square 2, adjacent to Max Square. In Gurugram, the company is coming up with a commercial project on Golf Course Extension Road. This year, the company also plans to add two rent-generating commercial buildings, one each in Noida and Delhi.

HoABL’s Global Marketing Blitz For ‘The Sarayu Ayodhya

The House of Abhinandan Lodha (HoABL) recently launched a strategic global marketing initiative for the launch of the third phase of its iconic residential project ‘The Sarayu’ in Ayodhya. The Sarayu is a 7-star mixed use development in Ayodhya being developed by HoABL in the vicinity of holy Sarayu River, featuring an integrated 5-star hotel by the Leela Palaces Hotels & Resorts in association with HoABL. The clubhouse will also be serviced by the hotel. Premium lifestyle residential plots at ‘The Sarayu’ , NH27 Ayodhya  with flexible and extended payment duration and early bird discounts, promise high appreciation.

This unique and strategic global marketing initiative was launched to tap indian diaspora after the stupendous success of first two phases of ‘The Sarayu’ wherein 16 lakh sq ft plotted residential space was snapped up within 48 hours of the offer. And by the time Bollywood superstar, Amitabh Bachchan’s investment of 10000 sq ft became talk of the universe, inventory was exhausted.In the first two phases, 25 percent of the participation was from Indian diaspora spread across 15 countries including the top three -USA, UAE and Singapore. Keeping in view the pent-up demand from the Indian diaspora, third phase has been launched.

HoABL’s global marketing event for ‘The Sarayu’, Ayodhya highlighted an immersive augmented realty display at the largest frame in the world- 150m tall Dubai Frame, one of Dubai’s most iconic structures. In Times Square Newyork City, a video display and an on-ground activation brought Ayodhya’s heritage to the heart of NYC, connecting global audience to the splendour of Ayodhya. Additionally, a spectacular drone-show illuminated the skies of Delhi-NCR, celebraeing Ayodhya’s historical and spiritual significance.

By showcasing Ayodhya’s high potential as an iconic spiritual centre and an infrastructure hub attracting global investments, HoABL hopes to cash in on the appeal of Ayodhya among Indian diaspora, promising them unique lifestyle in the global spiritual capital.

Leave a Reply