Page 6 - Raymond

Raymond secures redevelopment project in Mumbai, eyes Rs 1,700 cr revenue

Diversified group Raymond Ltd on Monday said its arm has bagged a redevelopment project in Mumbai with an estimated revenue potential of over Rs 1,700 crore. In a regulatory filing, Raymond Ltd informed that 'Ten X Realty Ltd, a step-down wholly-owned subsidiary of the company, has been selected as the preferred developer for redevelopment of Kumari Jethi T Sipahimalani CHS Ltd (also known as Navjivan Society) located in Mahim West, Mumbai. "Spread across 3.6 acres, the project is strategically located at one of the most sought-after residential areas of Mumbai and estimated to have a revenue potential in excess of Rs 1,700 crore over the project period," it added. The company said it would pursue this project post internal and external approvals. "This is in line with the company's growth plans of real estate development in the Mumbai Metropolitan Region and follows our first project outside Thane, in Bandra East, where we recently commenced construction," Raymond said. Earlier t

Raymond surges 10%, hits record high on healthy business outlook

Brokerage firm Motilal Oswal Financial Services has initiated coverage on the stock with a 'BUY' rating and a target price of Rs 2,600 per share

Raymond Group's Singhania takes on Maserati on safety, performance

Singhania also criticised the carmaker for failing to return his representatives' calls for over a week, questioning the level of customer service provided

GS Design to remodel cars into luxury vehicles, says Gautam Singhania

Singhania said unlike traditional restoration facilities that often take years to complete projects, GS Design will deliver the car within three months with full restoration

Stocks to Watch on Aug 14: Adani Ports, Nykaa, Raymond, PSU Banks, Biocon

Stocks to watch on August 14, 2023: Balrampur Chini, Delta Corp, Indiabulls Housing Finance, India Cements, Manappuram Finance and Zee among nine stocks in F&O ban period on Monday.

Raymond consolidated net profit jumps multi-fold to Rs 1,066.74 crore in Q1

Diversified group Raymond Ltd on Friday reported a multi-fold growth in consolidated net profit at Rs 1,066.74 crore in the June quarter, helped by gains from sales of its consumer business to Godrej Consumer Product Ltd (GCPL). The leading textile and apparel maker had posted a net profit of Rs 81.93 crore during the April-June period of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations rose 2.5 per cent to Rs 1,771.46 crore during the quarter under review as against Rs 1,728.14 crore in the year-ago period. During the June quarter, Raymond Consumer Care Ltd (RCCL), an associate company, sold its entire business, including all brands, to GCPL on a slump sale basis for a consideration of Rs 2,825 crore. However, the manufacturing location in Aurangabad for sexual wellness products was not part of the deal. Accordingly, Raymond's share in the profit from the sale of RCCL's business for the quarter ended June includes a gain of Rs 983.01 crore. It

High cotton prices, dull demand to keep textile stocks in check: Analysts

With cotton prices at home on the higher end versus global markets, analysts believe that the disparity is affecting India's global competitiveness in the near-term

Tata Group is India's most valuable brand, Infosys and LIC follow

With a value growth of 10.3% in 2023 as compared to 2022, Tata Group became the only Indian brand with a valuation of over $25 billion

Capacite Infra surges 21% in three days on winning Rs 224 cr Raymond order

Last month, the company had received order worth Rs 478.08 crore from Godrej Residency for construction of residential towers in Mumbai.

Raymond Q4 profit falls 26% to Rs 196.5 cr, income rises 10% to Rs 2,150 cr

Diversified group Raymond Ltd on Tuesday reported a 25.84 per cent decline in its consolidated net profit at Rs 196.48 crore in the fourth quarter ended on March 31, 2023, on account of exceptional items. The leading textile and apparel maker had posted a net profit of Rs 264.97 crore during the January-March period of the previous fiscal, Raymond said in a regulatory filing. However, its revenue from operations was up 9.8 per cent to Rs 2,150.18 crore during the quarter under review, as against Rs 1,958.10 crore in the year-ago period. Total expenses of the Singhania family-controlled firm were at Rs 1,939.27 crore, up 17.34 per cent from Rs 1,790.12 crore of the corresponding quarter. Its total income during in the March quarter was at Rs 2,192.20, up 7.89 per cent. "With Q4FY23, Raymond has demonstrated a strong revenue and profitable performance for six consecutive quarters," said Raymond in its earnings statement. During the quarter Raymond registered a loss of Rs 93.03 cro

Raymond Q4 results: Consolidated net profit falls 26% to Rs 194 crore

Raymond Q4 results: In 2022-23 (FY23) the net profit more than doubled to Rs 529 crore from Rs 260 crore in FY22

Raymond to consider issue of non-convertible debentures up to Rs 2,200 cr

The outcome of the board meeting will be communicated to the stock exchanges after conclusion of the board meeting on May 9 2023

Sensex soars 463pts, ends atop 61K; Nifty tops 18050; mid-, smallcaps shine

CLOSING BELL: Healthy buying in heavyweights like Reliance Industries, L&T, ITC, Kotak Bank, SBI, Bharti Airtel, TCS, and HDFC Bank lifted benchmarks on Friday

Godrej Consumer, Raymond dip up to 6% day after reporting Rs 2,825 cr deal

The proceeds from the sale of FMCG business would be utilized for repayment of debt and infusing of funds in the Lifestyle business, Raymond said.

Godrej Consumer Products acquires Raymond's FMCG biz for Rs 2,825 cr

RCCL will be a listed entity with a pure-play consumer-focused lifestyle business and sell the consumer products business to GCPL in a slump sale

Godrej Consumer Products to acquire Raymond group's consumer business

FMCG Godrej Consumer Products Ltd (GCPL) is going to acquire the FMCG business from the diversified group Raymond, which includes Park Avenue and KamaSutra brands, industry sources said on Thursday. The deal will strengthen the portfolio of the Godrej Group FMCG arm GCPL and foray into sexual wellness categories. An announcement of the deal is expected from both companies in the second half of Thursday. E-mail queries send to both the companies remained unanswered by the time of filing of the story. Both the brands -- Park Avenue and KamaSutra -- are under Raymond Consumer Care, which is a step-down unit of the Singhania-family owned Raymond, known for its shirting and lifestyle business. Raymond was trying to sell this consumer care business for some years. Earlier, it was in discussions with Good Glamm Group, a D2C beauty and personal care brand. However, it had not materialised, the industry sources said. Raymond has two fundamental businesses -- lifestyle and real estate. It

Raymond soars 9%, hits new peak on Godrej Consumer Products deal buzz

According to an ET report, Godrej Consumer Products was in advanced talks for a deal with Raymond for its consumer care business that includes the Park Avenue male grooming brand and Kamasutra condom.

Stocks to watch: Maruti, Bajaj Finance, Glenmark Pharma, IHCL, Raymond

Stocks to watch today: From Maruti Suzuki to Bajaj Finance, here are top stocks to watch in Wednesday's trade

Growth rate to remain at least double of inflation in FY24: Singhania

As the demand has started to come back slowly, diversified group Raymond expects its growth rate to remain "at least double of inflation" this fiscal, according to Raymond Chairman and Managing Director Gautam Hari Singhania. Singhania says he is "optimistically" looking at the future with growth in mid to high teens percentage in the coming three-five years. The diversified group expects higher growth coming from its new realty business, while its lifestyle business comprising suiting and shirting verticals, gives a push to the growth. "Post Covid FY23 has been a good year for Raymonds so far. It was good for everybody. Things have turned around. I am optimistically looking at the future," Singhania told PTI. Raymond has two fundamental businesses - lifestyle and real estate. It was facing a slowdown because the middle class, which creates demand for clothing to housing and education, had a little bit of an impact on income because of the recession. "I think slowly it is startin

Raymond Q3 profit down 4.4% to Rs 97 cr, income up 17.6% to Rs 2,168 cr

Raymond Ltd on Wednesday reported a decline of 4.42 per cent in its December quarter net profit at Rs 96.60 crore, mainly on account of a one-time tax hit. The company had posted a net profit of Rs 101.07 crore during the October-December period of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations rose 17.61 per cent to Rs 2,168.16 crore during the quarter under review, as against Rs 1,843.39 crore in the year-ago period. According to Raymond, it has recorded the "highest-ever revenues in a quarter". Total expenses were at Rs 1,977.28 crore, up 17.34 per cent from Rs 1,685.03 crore earlier. Raymond has exercised the option of lower corporate tax rate which has resulted in one-time net impact of Rs 73.5 crore in the profit and loss account, the company said in its earning statement. Its EBITDA (pre-tax profit) was at Rs 351 crore in the third quarter of FY23. The company's Chairman and Managing Director Gautam Hari Singhania said, "Raymond cont