Raymond Realty’s New Dawn: The Solo Journey of a Real Estate Powerhouse

As the sun rises on a new chapter, Raymond Realty steps confidently into the spotlight, no longer just an arm of a legendary conglomerate but a standalone force in India’s real estate landscape. The demerger of Raymond Realty from its parent, Raymond Ltd., marks not just a strategic shift but the beginning of a compelling story-one of ambition, resilience, and vision.

A Bold Step Towards Independence

On May 1, 2025, Raymond Ltd. completed the much-anticipated demerger of its real estate business, setting the stage for Raymond Realty to chart its own course. For shareholders, this transition is seamless: for every Raymond share held as of the record date, May 14, they receive an equivalent share in the newly independent Raymond Realty. This move is not just a financial restructuring; it’s a strategic leap towards creating focused, pure-play verticals that unlock value for investors and stakeholders alike.

Financial Fortitude: Building on Solid Ground

Raymond Realty’s solo journey begins with robust financial health. In Q4FY25, the company reported a 13% year-on-year revenue growth, reaching ₹766 crore. Its EBITDA climbed to ₹194 crore, maintaining a healthy margin of 25.3%-a testament to operational efficiency and market demand. This strong foundation ensures that Raymond Realty is well-equipped to thrive as an independent entity.

Momentum Without New Launches

Even without new project launches in the quarter, Raymond Realty’s booking value soared to ₹636 crore in Q4FY25. The ongoing success of marquee developments like The Address by GS 2.0, Invictus, and Park Avenue – High Street Retail in Thane, as well as The Address by GS in Bandra, underscores the brand’s enduring appeal and sales momentum.

Joint Development Agreements: The Engine of Expansion

Raymond Realty’s growth strategy is powered by an asset-light approach, focusing on joint development agreements (JDAs). In Q4FY25 alone, the company signed new JDAs in Mahim and Wadala, expanding its pipeline by an impressive ₹6,800 crore in potential gross development value. With six projects now outside its core Thane land, the company is rapidly scaling its presence across the Mumbai Metropolitan Region.

A Revenue Pipeline That Inspires Confidence

The numbers tell a story of ambition: Raymond Realty’s total revenue potential now stands close to ₹40,000 crore. Of this, ₹25,000 crore is anchored in its Thane land parcel, while ₹14,000 crore comes from its expanding JDA-led portfolio. The company continues to evaluate additional projects under this capital-light model, signaling a future filled with promise and growth.

Countdown to Listing: A New Era for Investors

Investors can look forward to Raymond Realty’s listing on both the NSE and BSE by the September quarter of FY26, following the successful spin-off of Raymond’s lifestyle business in September 2024. This listing will enable the market to independently value and track Raymond Realty’s performance, further enhancing transparency and investor confidence.

A Vision for Sustainable Growth

At the heart of Raymond Realty’s strategy is a commitment to sustainable, targeted expansion. By leveraging JDAs, the company minimizes upfront investment while maximizing reach and impact-a formula designed to deliver 20–25% growth in booking value going forward.

Leadership’s Optimistic Outlook

Chairman and Managing Director Gautam Hari Singhania captures the spirit of this transformation:

“We are delighted to announce the successful demerger… This strategic move emphasizes our commitment to drive sustainable growth via pure play business.”
With optimism and focus, Raymond Realty is poised to deliver long-term value across both real estate and engineering verticals.