Key Corporate Governance Updates
Audit Arrangements:
- M/s. Walker Chandiok & Co. LLP continues to serve as the Statutory Auditor for Raymond Realty, overseeing all financial auditing processes
- The Company recently concluded its joint auditing arrangement with M/s. Chaturvedi & Shah LLP
- The transition followed a commercial disagreement regarding a requested audit fee revision and aligns with the Company's strict internal cost management policies
- The departing auditors confirmed there are no concerns regarding the Company's management and successfully fulfilled all reporting obligations through Q3FY27 prior to their departure
Governance Practices:
- The Company maintains rigorous proactive governance practices
- M/s. E&Y LLP provides independent third-party review and certification for all Related Party Transactions to ensure complete transparency, arm's length pricing, and adherence to the highest compliance standards
Business Performance and Strategic Highlights
Portfolio Metrics:
- The Company is executing an asset-light Joint Development Agreement (JDA) strategy comprising eight projects
- Total revenue potential of approximately ₹27,000 crore across the JDA portfolio
- Total portfolio currently valued at an estimated ₹52,000 crore in Gross Development Value (GDV)
Recent Financing:
- The Company recently secured a ₹210 crore investment from the ICICI Prudential Real Estate Development Fund
- This investment underscores institutional confidence in the Company's growth trajectory and execution capability
Management Commentary
Harmohan Sahni, Managing Director & CEO of Raymond Realty, stated: "Raymond Realty operates with an unwavering focus on capital efficiency, transparency, and scalable growth. Our governance frameworks, supported by premier audit and advisory partners, are designed to protect and maximize shareholder value. As we scale our footprint across the MMR, our disciplined approach to cost management and our robust asset-light strategy position us to deliver exceptional residential spaces and long-term institutional returns."
Company Background
Raymond Realty Limited (formerly known as Raymond Lifestyle Limited) is headquartered in Mumbai and part of the Raymond Group. The company has established itself among the Top 10 Real Estate players in the country since its foray into real estate in 2019. The company operates with iconic residential brands including TenX, The Address by GS, and Invictus by GS, and has 100 acres of owned land in addition to its 8 Joint Development Agreements.