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Raymond has received approval from Board of Directors for vertical demerger of its Real Estate Business into its wholly owned subsidiary, Raymond Realty (RRL). Upon completion of this demerger, Raymond and Raymond Realty (RRL) will operate as separate listed entities within the Raymond Group post all statutory approvals. The new entity will seek automatic listing on stock exchanges and according to the scheme of arrangement, each Raymond shareholder will receive 1 share of RRL for every 1 share held in Raymond.
This strategic move comes as Raymond's Real Estate Business has achieved scale, reporting revenue of Rs 1,593 Crore (43% Year-on-Year growth) and EBITDA of Rs 370 crore in FY24, positioning it well to chart its own growth path as a separate entity. Raymond Realty has around 100 acres of land in Thane with around 11.4 million sq ft RERA approved carpet area of which about 40 acres is currently under development. There are five ongoing projects worth Rs 9,000 crore on its Thane land, with an additional potential to generate more than Rs 16,000 crore, making a total potential revenue of over Rs 25,000 crore from this land bank.
Leveraging an asset-light model, recently Raymond Realty has launched its first JDA project in Bandra, Mumbai. Additionally, Raymond has signed three new JDAs in Mahim, Sion, and one more in Bandra East Mumbai, taking the combined revenue potential from four JDA projects in the Mumbai Metropolitan Region to over Rs 7,000 crore. With the development of Thane Land Bank and current 4 JDA’s gives company the potential revenue of Rs 32,000 crore.
The demerger aligns with Raymond Group's stated objectives of simplifying its corporate structure and enhancing shareholder value for operational and structural benefits. Leveraging Raymond's institutional strength, the move will allow for independent, dedicated management teams with industry-specific expertise to sharpen business focus and tailor investment strategies to each sector's unique dynamics.
Raymond is one of India’s largest branded fabric and fashion retailers. It is one of the leading, integrated producers of suiting fabric in the world.
| Company Name | CMP |
|---|---|
| Raymond | 1672.55 |
| Siyaram Silk Mills | 524.15 |
| Manomay Tex India | 208.00 |
| BSL | 226.85 |
| KG Denim | 25.76 |
| View more.. | |
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