Raymond Realty launches ultra-luxury BKC project, targets ₹2K cr revenue

Raymond Realty has launched Invictus by GS, BKC, an ultra-luxury residential project with a revenue potential of Rs 2,000 crore in Mumbai’s Bandra Kurla Complex (BKC). Spread across 2 acres, the project is being developed through a redevelopment model.

 

The development features six towers with 23 habitable floors and four basements, and incorporates IGBC-aligned sustainability features. Its prime location offers seamless connectivity to south, central and Navi Mumbai, the company said.

 

Harmohan Sahni, chief executive officer, Raymond Realty, said: “The launch of Invictus by GS, BKC is a strategic milestone that marks our structural pivot into the ultra-luxury segment, unlocking a revenue potential of over Rs 2,000 crore from this project alone. This development serves as the cornerstone of our Rs 14,000 crore joint development agreement (JDA) portfolio and is a critical accelerator towards our Rs 4,000 crore annual topline target.”

 

 

The project is among six JDAs signed by Raymond across Bandra, Mahim, Sion and Wadala, with a total gross development value of Rs 14,000 crore. Additional JDA projects are also under evaluation. The company expects JDAs to contribute 50 per cent of its annual pre-sales within the next two to three years (by financial year 2028), up from 22 per cent in FY25.

 

In the second quarter of FY26 (Q2 FY26), Raymond recorded bookings of Rs 455 crore, down 19.3 per cent year-on-year (Y-o-Y), led by Ten X Era in Thane and The Address by GS in Bandra. Net profit for Q2 FY26 rose sharply to Rs 60.2 crore from Rs 4.92 crore a year earlier, while revenue surged 207.9 per cent Y-o-Y to Rs 696.5 crore.

 

According to Sahni, the growth was on the back of executional efficiency and good demand trends during the quarter.

 

As of Q2 FY26, the total potential revenue from the company’s current real estate business is now close to Rs 40,000 crore, which includes a 100-acre Thane land parcel with Rs 25,000 crore revenue potential. The company has 55 acres of the parcel currently under development with a potential revenue of Rs 13,200 crore, of which it has already sold Rs 8,200 crore and collected an amount of Rs 6,300 crore.