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.

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

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

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

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

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

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.