Latest news with #RaymondGroup
Time of India
01-07-2025
- Business
- Time of India
Raymond Realty set to list on exchanges, looks of over 20% annual growth
NEW DELHI: Raymond Realty (RRL), the real estate arm of Raymond Group , will list on Indian stock exchanges, following its demerger from Raymond. The listing is aimed at unlocking shareholder value by creating a focussed, net debt free pure-play real estate entity. Harmohan Sahni , MD & CEO of the company said, "With a net debt-free balance sheet, 100 acre of owned land, and a capital-efficient joint development model, we are well-positioned to sustain over 20% annual growth and industry-leading ROCE of over 20%." The company operates through three residential brands - TenX, The Address by GS and Invictus, owns 100 acre land and six joint development agreements and has an estimated gross development value of approximately ₹400 billion.
Hindustan Times
30-06-2025
- Business
- Hindustan Times
Raymond Realty to debut on stock exchanges on July 1, to focus on real estate projects with a 20% profit margin
Raymond Realty Ltd, the real estate arm of the Raymond Group, has announced that it will debut on Indian stock exchanges on July 1, following its demerger from Raymond Ltd. Mumbai: Raymond Realty Ltd, the real estate arm of the Raymond Group, has announced that it will debut on Indian stock exchanges on July 1, following its demerger from Raymond Ltd(Mehul R Thakkar/HT Files) Top company officials said that Raymond Realty will only pursue development deals that offer a profit margin of at least 20%. The company stated that this listing marks a key milestone in its Raymond 2.0 transformation journey and reflects its strategy of unlocking value, similar to last year's demerger of its lifestyle business. "The listing is aimed at unlocking shareholder value by creating a focused, net debt-free pure-play real estate entity. The strategic move will allow greater operational efficiency, sharper market focus, and enhanced investor value creation," the company said in a statement. Also Read: Raymond signs joint venture to develop ₹ 5,000-crore housing project in Mumbai 'As Raymond Group steps into its next century, our focus on creating Raymond 2.0 will help us continue our legacy into a dynamic, purpose-driven and future-ready enterprise reflecting our commitment to innovation, execution excellence, and nation-building," Gautam Hari Singhania, Group Chairman, Raymond Ltd., said. "Guided by our three distinct business entities—Lifestyle, Real Estate, and Engineering, Raymond Realty is equipped with a professional management team and a strong board with a rich pedigree in the real estate sector. As Raymond Group marks a century of its operations, we are committed to delivering exceptional customer experiences, long-term sustainable growth, and enhanced value for our shareholders," Singhania said. Also Read: Luxury real estate showing signs of fatigue, but inventory in the hands of strong developers: Raymond Realty CEO On the milestone of listing, Harmohan Sahni, MD and CEO, Raymond Realty Ltd., said, 'At Raymond Realty, we are building more than just homes, and we are shaping India's urban skyline. With a net debt-free balance sheet, 100 acres of owned land, and a capital-efficient joint development model, we are well-positioned to sustain 20%+ annual growth and industry-leading ROCE of over 20%. This will help in further solidifying our position in the Indian real estate industry.' The company statement said that with its listing, RRL will be a pure-play real estate entity backed by a ₹ 40,000 crore development pipeline through a 100-acre owned land bank and a growing portfolio of JDAs, led by an over 400-member strong professional management team. Sahni told reporters on June 30 that the company will look at projects only if they deliver profit margins of over 20%. Also Read: Raymond Realty plans to foray into Pune real estate market: CEO Harmohan Sahni "We have already committed ₹ 40,000 crore of potential, of which ₹ 10,500 crore of potential has been launched and some of it has been sold. We will keep adding around ₹ 5,000 crore of potential every year going forward for the future," Sahni said.
India.com
21-06-2025
- Business
- India.com
Meet man who was once richer than Mukesh Ambani, Adani, Ratan Tata, now lives in a rented flat due to..., his name is..., business was...
There was a time when Vijaypat Singhania was one of the most well-known and respected businessmen in India. He was not just rich, he was a symbol of success, power, and fame. People looked up to him as an example of what it meant to be truly wealthy and influential. But life took a painful turn. Today, at the age of 86, Vijaypat lives alone in a small rented flat in Mumbai, far away from the luxury and status he once had. Made Raymond a global name Vijaypat Singhania was born into the famous Singhania business family. His uncle, G.K. Singhania, had started the Raymond Group, but it was Vijaypat who turned the brand into a global success. He became the chairman of Raymond in 1980 and led the company until 2000. Under his leadership, Raymond became one of the top names in premium suiting fabric not only in India but around the world. He gave Raymond its iconic identity as 'The Complete Man', a campaign that made the brand relatable and aspirational. A true business legend Vijaypat built an empire worth thousands of crores and made Raymond a brand that every Indian was proud of. But despite his huge success, things didn't end well for him personally. Disputes within the family and changes in business control left him with little to his name. A Father-son relationship gone sour The turning point in Vijaypat Singhania's life came when he tried to divide his business between his two sons, Gautam and Madhupati. Madhupati had already moved to Singapore and stepped away from the business. In 2015, Vijaypat transferred his shares and control of Raymond Group to his son, Gautam Singhania, believing it was the right step for the family business. However, this decision backfired as a bitter dispute erupted between father and son. After getting control of the business, Gautam slowly began distancing his father from company matters. In 2018, Vijaypat was removed as Chairman Emeritus of Raymond, severing his ties with the company he once built. What hurt even more was that Vijaypat was eventually asked to leave his ancestral home where he had spent much of his life. This is the same man who once owned private jets, luxury bungalows, and had an army of staff at his service. Today, he lives all by himself in a small rented apartment in Mumbai. An award-winning aviator Many people know Vijaypat Singhania as the man behind the success of Raymond, but few know that he is also a professional aviator. His love for flying came from none other than JRD Tata, the legendary founder of the Tata Group and a pioneer in Indian aviation. Vijaypat broke records and earned national honors. In 1994, he made a world record by flying a hot air balloon to a height of 69,852 feet above sea level. His passion earned him the Tenzing Norgay National Adventure Award in 2001, followed by the prestigious Padma Bhushan in 2006. That same year, he was also appointed as the Sheriff of Mumbai, and the Indian Air Force honored him with the title of Honorary Air Commodore. No regret about life, but… Even after all the ups and downs in his life, Vijaypat believes that money is never permanent and what truly lasts are a person's values and actions. In a heartfelt interview, he admitted that he deeply regrets trusting his son and giving away all his wealth. That decision cost him not just money, but also family and peace. Today, he finds himself completely alone. But despite the heartbreak, he still sees himself as a fighter. He says, 'I've seen everything in life…. the top and the bottom. What I've learned, no business school can teach.' While Vijaypat now leads a modest life, his son Gautam Singhania enjoys an ultra-luxurious lifestyle. Gautam owns JK House, a towering mansion worth Rs. 6,000 crore (USD 81 million), located on Mumbai's Altamount Road, just beside Mukesh Ambani's Antilia—one of the world's most expensive homes.
India.com
19-06-2025
- Business
- India.com
Meet Man Who Once Surpassed Ambani, Adani & Tata In Wealth—Now Lives In Rented Flat Due To….
photoDetails english Once one of India's richest businessmen—richer than Ambani, Adani, and Tata—Vijaypat Singhania built the Raymond empire into a global brand. But after handing over his stake to his son Gautam, a bitter family feud left him with nothing. Today, at 86, the former tycoon lives in a rented flat, far from the lavish life he once led. Updated:Jun 19, 2025, 05:20 PM IST From Billionaire to Renter 1 / 8 While names like Mukesh Ambani, Gautam Adani, and Narayana Murthy dominate India's billionaire club today, there was a time when one man outshone them all in wealth and influence. Meet Vijaypat Singhania — once a textile tycoon, now 86 and living in a rented flat after a heartbreaking family fallout. (Image credit: @divya_gandotra/x & Social Media) Who Is Vijaypat Singhania? 2 / 8 Vijaypat Singhania was the chairman of the Raymond Group from 1980 to 2000. He turned the homegrown brand into a global name in the textile and fashion industry. Born into the wealthy Singhania family, he carried forward the legacy of his uncle, G.K. Singhania. The Business Empire He Built 3 / 8 Under his leadership, Raymond became synonymous with premium suiting in India. From small-town outlets to international showrooms, Raymond became a household name thanks to his vision and business acumen. A Family Feud That Changed Everything 4 / 8 Trouble began when Vijaypat tried to divide the business between his two sons — Madhupati and Gautam Singhania. While Madhupati distanced himself by moving to Singapore, Vijaypat handed over his 37 per cent stake in Raymond to Gautam in 2015. What followed was a bitter fallout. Ousted By His Own Son 5 / 8 After transferring his shares, the relationship between Vijaypat and Gautam soured. Eventually, Gautam ousted him from the family home. With no control over the company or assets, Vijaypat was left without wealth or a place to stay. Now Lives in a Rented Apartment 6 / 8 Today, the man who once owned jets, mansions, and held the reins of a billion-dollar company lives in a rented flat. In an emotional interview, he shared how his once-lavish lifestyle is now a memory, and how personal betrayal hurt more than financial loss. More Than a Businessman 7 / 8 Vijaypat is also an acclaimed aviator. Inspired by J.R.D. Tata, he's a trained pilot and was honored with the Tenzing Norgay National Adventure Award (2001) and the Padma Bhushan (2006). He was also named Sheriff of Mumbai in 2006 and made Honorary Air Commodore by the Indian Air Force. Legacy Beyond Loss 8 / 8 Despite the setbacks, Vijaypat's legacy remains strong. He made Raymond a global brand, earned respect as a leader and aviator, and inspired many with his resilience. His story is a reminder that wealth can be fleeting, but legacy and dignity endure.
Reuters
10-06-2025
- Business
- Reuters
India's Raymond Realty to list in early July, top executive says
June 10 (Reuters) - India's Raymond Realty, recently carved out from the namesake conglomerate, is on track to list in early July as the group looks to streamline its corporate structure, a top executive told Reuters on Tuesday. This will be Raymond's ( opens new tab third publicly traded entity after Raymond Lifestyle, which houses the suits and shirts business. "The exact date (for the listing) is not confirmed yet, but it should be early July," Gautam Singhania, chairman and managing director of the group, said in an interview, without elaborating. Each shareholder will receive one share of Raymond Realty for every share held in Raymond, the group said previously. Raymond approved the demerger of Raymond Realty on May 1 and announced May 14 as the record date to determine eligible shareholders for the real estate business. The stock fell around 66% on May 14 because of a price adjustment after the demerger, but the decline was not a real loss for investors, just a technical revision in the share price. After adjusting for the demerger, Raymond's shares jumped nearly 23% in May, their biggest monthly gain since June 2024. Brokerage Systematix expects Raymond Realty to be priced at 1,076 rupees per share and forecast operating profit of 5.97 billion rupees ($69.7 million) in the ongoing fiscal 2026. The business reported a 45% rise in revenue to 23.13 billion rupees for the financial year ended March 31, with operating profit up 37% at 5.07 billion rupees. ($1 = 85.6150 Indian rupees)
