Mumbai, 15 November, 2022: Raymond Realty, the real estate arm of Raymond Group, India’s biggest FMCG to textile conglomerate has topped the IndexTap Premier League Chart for Thane region. The group’s premiere real estate projects - The Address by GS and TenX Habitat have bagged the first and the second position in Thane city region with 78 and 124 units sold worth ₹201 crores and ₹147 crores, respectively. As per latest available numbers, Raymond Realty projects have sold 202 units for ₹348 crores, combined.
Overall, project TenX received 120 bookings in the second quarter of FY23. TenX has 2,186 units booked, equivalent to 85% of the total inventory launched till September 2022 with a booking value of ₹2,210 crores. Similarly, ‘The Address by GS’, the premium residential project stands out with a booking value of ₹834 crores in the same period. It has received 68 bookings totalling 349 bookings till September 2022.
The achievement stands in line with Raymond Realty showcasing a strong sales growth by three-fold to ₹245 crores from ₹81 crores compared with the previous year in the second quarter. The realty segment also reported a quarterly EBITDA margin of 25.8%. Commenting on this achievement, Gautam Hari Singhania, Chairman and Managing Director, Raymond Ltd said; “We have observed a spirit of resilience in home demand in relation with higher liquidity flow in the market. The increasing customer confidence in Raymond Realty due to our fast-paced construction and timely deliveries of our commitments, we are now attuned to meet the evolving demands on the new age home buyers.”
Raymond Realty has become the No.1 real estate developer in the Thane region in a matter of three years, guided by its robust business strategy of creating the best product at the best price at the best location.
The real estate sector, especially the housing division, showed a sharp revival in demand and supply after Covid. Despite multiple RBI rate hikes, consumer confidence in future earnings and the pandemic-induced importance of owning a house for safety concerns are the key elements for revamping property sales in the Indian metros and has helped to revive investor confidence.