Raymond Realty eyes higher sales, multiple launches in FY26-OxBig News Network

The real estate firm was demerged from Raymond Ltd on 1 May and will list as a standalone entity. 

Mumbai-based Raymond Realty clocked around ₹2,300 crore of sales in FY25, and is targeting at least 20% growth this year. It also expects a 20% return on capital employed. 

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By the end of FY26, it plans to launch six projects – two in suburban Thane, where Raymond owns about 100 acres, and four projects in different locations across Mumbai Metropolitan Region (MMR) – Wadala, Sion, Mahim and Bandra. 

The developer currently has six projects under execution. 

Raymond Realty’s residential portfolio, combining projects under execution and the ones to be launched, has a gross development value (GDV) of ₹40,000 crore. Of this, projects worth ₹25,000 crore GDV would be in Thane alone. The remaining projects of ₹15,000 crore GDV are in MMR.

“In the next 3-4 years, we will double our sales and portfolio size. As a company, we are trying to solve for two things in the industry – quality of projects and timely delivery. We also want to focus on post delivery service, and have started our own facilities management arm,” Raymond Realty chief executive Harmohan Sahni said in an interview. 

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The demerger will consolidate the group’s real estate business under a single entity, which, going forward, will further unlock the firm’s potential as a pure-play property development vertical. 

The company will sell at a broad price range of ₹20,000-65,000 per sq ft, and is not looking to sell below that, or in the uber luxury category. 

“We can’t go lower than ₹20,000-22,000 per sq ft. We will not dilute the brand, and it is not a price-sensitive market,” he added. 

MMR, India’s most valuable property market, stands as one of the leading contributors to pan-India launches and sales. 

Most of the projects Raymond Realty has signed are redevelopment projects. The newly signed projects, in Mahim and Wadala, are a Maharashtra Housing and Area Development Authority (Mhada) redevelopment and a slum redevelopment project respectively. 

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“We will continue to pursue an asset-light model by signing projects through the joint development route as it is capital efficient. We are a net debt-free company,” Sahni said. 

Beyond Mumbai, the company is exploring project opportunities to enter the Pune property market. 

“We are choosy about the deals we want to sign,” he added.  

MMR among all the top cities witnessed the highest sales of around 155,335 units in 2024, almost the same as 2023. Pune followed with around 81,090 units sold. The two western markets together led residential sales last year, said Anarock Property Consultants.