Raymond expects to earn Rs 4,000 crore from real estate business over the next 3-4 years

Raymond anticipates a significant boost in revenue over the next 3-4 years. The company projects a potential influx of approximately Rs 4,000 crore from this segment. This optimistic outlook is based on the continued growth in the real estate sector and Raymond's strategic positioning within it. The company has strategically developed properties that are expected to generate substantial returns in the near future.

In an interview, Amit Agarwal, Group CFO of Raymond said that the company expects Rs 4,000 crore of revenue coming in from the real estate business over the next 3-4 years. He said, "Over the next 3-4 years, we are expecting anything between Rs 4,000 crore of revenue coming in from the real estate business."

In addition to the real estate business, Raymond also has ambitious plans for its ethnic wear segment. Agarwal revealed that the company intends to open 150-200 new

stores dedicated to ethnic wear in the financial year 2024. He also said that the apparel business is likely to witness a surge by the second half of FY24 because of the festive season.

While discussing the revenue potential of the ethnic wear stores, Agarwal disclosed that Raymond expects each store to generate revenue between Rs 1.5-2 crore. This projection underscores the company's confidence in the demand for ethnic wear and the growth prospects of this particular business vertical. Raymond aims to tap into the rising trend of consumers embracing traditional and cultural attire for various occasions, further fueling the demand for ethnic wear.

As Raymond continues to explore new avenues and capitalise on market opportunities, it is well-positioned to strengthen its presence in the real estate sector and expand its footprint in the ethnic wear market