Growth potential of Raymond’s Thane project is Rs 25,000 crore over several years: Group CFO

economictimes.indiatimes.com:

Amit Agarwal, Group CFO, Raymond, says “the growth potential of Thane is Rs 25,000 crore over several years and Rs 5000 crore we have already signed. So, we are in a decent spot in order to take this business really-really forward. The demerger is on so hopefully by mid-May, we should be able to announce that de-merger. The SEBI approval is in place, now the NCLT and the other process is on. So, to that extent, you will have separate companies for real estate as well as for the lifestyle. Our target is that Thane should be in the range of 50 to 60% of the revenue mix over the next three, four years, and 40% to 45% should come out of Thane.”

How was Diwali and Christmas? Any reasons for your shareholders to get worried?
Amit Agarwal: No. I think Diwali was great. People had a really good time. There has been a sort of hiatus of almost seven-eight months when people were not into so much of shopping in the first half and going up to August-September because of that extra month of Malmas (inauspicious period) and as soon as that Malmas got over, people started to come back and saw a great shopping trend there.

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Post Diwali, we were expecting a very strong comeback on the weddings. It had come back. It is decently better, but we were not getting the same level as we thought that it would be so strong. But now, once again, we have got a very strong wedding season. After the 14th, 15th of January, we start the wedding season till April. From the dealer network, there is a very good