Raymond, led by Gautam Hari Singhania, has the capability to generate a revenue of Rs.25,000 crore by leveraging its land bank in Thane
The Group possesses approximately 100 acres of land in Thane, featuring an RERA approved carpet area of 11.4 million sq ft, with around 40 acres currently undergoing development.
The company stated in its most recent annual report that it has five ongoing projects valued at Rs.9,000 crore on its Thane land. Furthermore, these projects have the potential to generate an additional Rs.16,000 crore, resulting in a total potential revenue of over Rs.25,000 crore from this land bank.
Raymond initiated its inaugural JDA venture in Bandra, Mumbai, in February, utilizing an asset-light approach, and successfully sold more than 60% of the project within a span of 40 days.
In addition, the company has recently entered into agreements for two new Joint Development Agreements (JDAs) in Mahim and Sion in Mumbai, which has increased the total revenue potential to Rs.5,000 crore from the three JDA projects in the Mumbai Metropolitan Region. The real estate division has successfully secured a total booking value of Rs.2,249 crore in the financial year 2024.
The Raymond Group achieved a net debt-free status in the previous year following the divestment of its FMCG business, surpassing the originally set deadline by two years. In order to enhance shareholder value, the company intends to separate the Lifestyle business from Raymond through a demerger. As a result of this demerger, two separate entities will be listed: Raymond Lifestyle and Raymond, with the latter retaining ownership of the realty and engineering business.
Singhania stated that the Group has pinpointed Lifestyle, Real Estate, and Engineering as the key three businesses for future growth and is poised for a fresh start.
MPPL stands out as a leading producer of automotive component parts, along with a strong presence in the emerging industries of aerospace, defense, and electric vehicle components. Following the integration of MPPL, the engineering sector has been streamlined, with two distinct subsidiaries dedicated to aerospace and defense, and another specializing in automotive components, electric vehicles, and engineering supplies.
In the fiscal year 2024, the garmenting division achieving a revenue of Rs.1,139 crore, primarily due to increased demand from both existing and recently acquired international clients. This resulted in an EBITDA margin of 9.6 percent. On the other hand, the real estate sector experienced a significant growth in sales, with a 43% increase amounting to Rs.1,593 crore (compared to Rs.1,115 crore in the previous period).
Copyright © 2024 HomesIndiaMagazine. All Rights Reserved.
