Raymond Group to expand real estate business through joint developments, JVs

Raymond aims to make Raymond Realty a core business with significant revenue potential in the Mumbai Metropolitan Region.

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Raymond Group is monetizing the over 60-acre land bank that it holds in Thane, Mumbai. of travel.

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In May, the Raymond Group plans to focus on real estate under Raymond Ltd.

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The company has launched three projects so far, all in Thane.

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Last year, it reported bookings of Rs 1,600 crore from the projects.

In two projects, 80% of the inventory has been sold; in the recently launched third project

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The total revenue of the company was 8,337 crore.

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The real estate business contributed Rs 1115 crore, a rise of 58% on the year and an EBITDA margin of 25.7%.

The company intends to expand beyond Thane in the MMR region.

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