Raymond Realty Navigates Luxury Market Slowdown with Strategic Strength

In the evolving landscape of Indian real estate, the luxury segment is showing signs of weariness, but Raymond Realty is charting a path of resilience and growth. As the market grapples with high inventory and fewer active players, the company’s strategic focus on premium housing and strong developer backing is setting it apart.

Luxury Real Estate Faces Fatigue

Harmohan Sahni, CEO of Raymond Realty, recently highlighted the current state of luxury real estate during the Q4FY25 investors call. “There is some kind of tiredness in the luxury market. The inventory is quite high, but it’s held by strong hands,” he explained. This means that while supply remains elevated, the developers controlling these assets are financially robust, preventing market instability.

Premium Segment: The Core Focus

Raymond Realty is deliberately steering clear of both the ultra-luxury and affordable segments. Instead, the company targets the “affordable luxury” or premium segment—homes that balance aspirational quality with accessibility. “We operate in deep markets where volumes are very strong,” Sahni said, underscoring the company’s confidence in its chosen niche.

Thane: A Growing Market Share

Thane continues to be a key area for Raymond Realty. Despite intense competition and new entrants launching large-scale projects, the company has steadily increased its market share. Sahni noted, “As the market has expanded, so has our share.” The stability of prices and user-driven demand in Thane provide a solid foundation for sustained growth.

Expanding Footprint: Mumbai and Pune

Raymond Realty’s journey began in Thane in 2019 and has since expanded with landmark projects like ‘The Address by GS’ in Bandra. Upcoming developments in Mahim and Wadala further strengthen its presence in Mumbai’s metropolitan area. Looking ahead, the company plans to enter the Pune market with a residential project expected to generate around ₹2,000 crore in topline revenue.

Strategic Growth and Execution Excellence

The company’s approach includes capital-light joint development agreements (JDAs), which have added significant value to its portfolio without heavy upfront investment. With a total potential revenue pipeline nearing ₹40,000 crore, Raymond Realty is positioned for steady growth, targeting 20–25% annual increases in booking value.

Vision for the Future

Raymond Realty aims to be a significant player nationally, focusing on premium housing that resonates with India’s growing middle class. The recent demerger from Raymond Group and plans for a public listing by September 2025 mark important milestones in this journey.

Conclusion

As the luxury real estate market experiences a slowdown, Raymond Realty’s strong developer backing, strategic focus on premium segments, and disciplined expansion across Mumbai and Pune highlight a story of resilience and opportunity in India’s dynamic housing market.