'We will be investing in only these three areas': Raymond's Gautam Singhania makes big decision, to focus on core businesses

/ 2 min read

Singhania unveils a new apparel collection at his residential tower, JK House, in South Mumbai's Breach Candy area.

Gautam Singhania, Chairman, Raymond Group
Gautam Singhania, Chairman, Raymond Group | Credits: Narendra Bisht

Raymond Group will focus on its core business areas—lifestyle, real estate, and engineering—while exploring new opportunities, said Gautam Singhania, chairman of the Raymond Group. "We will be investing only in these three businesses right now," he told Fortune India.

ADVERTISEMENT

"We keep looking at new business opportunities, but nothing has been finalised yet for investments," he added.

Singhania on Thursday unveiled a new apparel collection at his residential tower, JK House, in South Mumbai's Breach Candy area. Named the Chairman’s Collection, it is curated from Raymond Ready-to-Wear, Park Avenue, and Ethnix. Inspired by diverse global influences—from Victorian ornamentation to Parisian mystique, Polish regalia to Japanese artistry—the collection blends classic craftsmanship with contemporary elegance, the company said.

Raymond Group has a significant presence in the textile and apparel sector, in addition to consumer care, real estate, and engineering, in both national and international markets. In 2023, it sold its FMCG business—deodorants and sexual wellness categories—in India to Godrej Consumer Products for ₹2,825 crore.

The group's businesses are targeting 15% annual sales and earnings growth. Raymond Ltd, which includes real estate and engineering businesses, reported a 61% year-on-year drop in net profit at ₹72.3 crore for the third quarter. The decline was attributed to the demerger of the lifestyle business and its separate listing last year. However, the company's revenue from operations rose 40.6% to ₹953.9 crore, driven by a better performance in the real estate segment.

Raymond Ltd has turned net debt-free following the demerger of the lifestyle business.

Raymond Lifestyle Ltd reported a 60.5% decline in consolidated net profit at ₹64.17 crore in the third quarter, impacted by weak market conditions and higher expenses. Revenue from operations stood at ₹1,754.21 crore, compared to ₹1,726.26 crore in the year-ago period.

Recommended Stories

In November last year, Raymond received a 'No Objection' from BSE and NSE for the demerger of its real estate business. It is expected to be listed in the second half of this financial year.

Fortune India is now on WhatsApp! Get the latest updates from the world of business and economy delivered straight to your phone. Subscribe now.

ADVERTISEMENT