Raymond Group Chairman Gautam Singhania stated that the company’s real estate arm, Raymond Realty, is currently focused on the “belly of the market,” specifically the affordable luxury segment. While the brand may aspire to launch ultra-luxury ₹100 crore apartments in the future, Singhania emphasized that their present focus remains on high-quality, mid-range housing that meets mass market needs.
He illustrated the point by saying, “Today, we make a ₹16 lakh jacket, but that’s just 0.00001% of what we do,” highlighting Raymond’s capability for premium offerings without losing sight of broader demand.
Mumbai First, Pune Later
Raymond Realty plans to concentrate on Mumbai’s micro-markets, with possible expansion to Pune at a later stage. Singhania clarified that Mumbai is not a single market but a collection of diverse micro-markets, each with its own dynamics.
The company currently has projects in Mahim, Bandra, and Wadala, and its future presence will depend on opportunities in specific locations rather than a uniform strategy across the city.
Strong Market Share in Thane
Raymond Realty has already established a significant footprint in Thane, commanding a 30% market share in its specific segment. Singhania noted that while their share of the entire Mumbai market is relatively small—just 0.0001%—they dominate the category they are targeting.
He explained, “There’s a different market above us and a different one below us. We are playing our game in the segment we know best.”
Different Segment, Different Strategy
Singhania pointed out that not all real estate companies operate the same way, even if they are in the same industry. “Just because we’re all in real estate doesn’t mean we’re the same,” he said, comparing Raymond and Armani—both in fashion but with very different markets.
Raymond Realty deliberately stays out of the high-stakes race for redevelopment projects that often carry inflated risks. “We are not in the redevelopment mad race,” he added.
Disciplined Approach to Deals
Raymond Realty is committed to financial discipline, with a minimum profit margin target of 20% for each project, according to CEO Harmohan Sahni. Singhania reaffirmed this by saying he would walk away from any deal that doesn’t meet their strict financial criteria.
“I’m seeing deals that are so heated that, if I were a betting man, there’s no way people can make money out of them,” he told reporters, indicating caution amid the current competitive market climate.
IPO and Future Plans
Raymond Realty is set to make its stock market debut on July 1, with continued focus on real estate projects offering sustainable profitability and strong market positioning. As it scales responsibly, the company remains committed to balancing ambition with sound business judgment.
