Raymond Realty to sign up project only if profit margin is 20 pc

Mumbai, June 30 (PTI) Raymond Realty, the company’s senior officials on Monday said in a statement, at least 20 percent of profit margins do not see the development agreements, he said.

The asset, which will be released to Bourses on Tuesday, will start projects with gross development value. LaThey said 6-10,000 crore.

Raymond Group President and General Manager Gautam Singhania, the recent agreements have witnessed prices “warming”, but the financial discipline is very important for the company, he said.

“I will do an agreement only if it provides financial return,” he said.

He said that some of the last agreements were so “heated”. He said that even a gambler would not put them any bets.

Harmohan Sahni, the company’s general manager, said that he would not look at the projects when they gave only more than 20 percent profit margins.

Typically, it looks at its own land bank or redevelopment or green space projects that start with common developments to start land acquisition or profit.

He said that the company has been looking at 1,400 projects so far and signed only six. The management also rejected that there was a lack of land or projects.

Singhania said that the Realty branch aims for a 15 percent high -level growth and a 20 percent activity profit margin.

Typically, the company will launch projects to be sold by units. La1-5 Crore can only sell projects with higher ticket sizes.