Sandeep Maheshwari, COO of Raymond Realty

‘You’ve worn it – now live it’ is how the Raymond Group translated its transition from a business in suits, shirts and denim into real estate in 2019. It has leveraged its brand power to launch apartment blocks with a serious lifestyle edge – think large swathes of green space, swimming pools, multiple sports courts, spacious kids’ playgrounds, running tracks, yoga zones, creches and more.

In less than six years, Raymond Realty has emerged as a formidable standalone business within the Raymond Group.

Since then, it has become synonymous with ‘affordable luxury’, creating amenity-rich residences that are also family friendly and encourage outdoor activities while transforming the skyline in India’s largest city, Mumbai, and neighboring commuter hub, Thane. For the past five years, as COO, Sandeep Maheshwari has been a driving force within the business.

Raymond Realty began its journey in Thane in 2019, launching its flagship project, Ten X Habitat, which spans a vast 400,000 square meters and offers more than 3,100 thoughtfully designed residences across a 5.6-hectare plot. The 20,000-square-meter clubhouse, the largest in the city, is part of the more than 142,000 square meters of open and closed amenities.

In 2021, building on the success of Ten X Habitat, the company launched The Address by GS, also in Thane, catering to the luxury segment. The residences offer up to six bedrooms and similar lifestyle-led amenities across a smaller footprint of two towers and 51 floors, creating an exclusive and sophisticated living experience.

The Ten X Era phase, with its three towers of 38 stories each, was launched in 2023. The Address by GS Season 2 opened in 2024 and combines 40 floors of apartments of up to six bedrooms with 7,900 square meters of retail and office space.

Further expansion

Thane also provides an avenue for Raymond Realty to expand its burgeoning high street and commercial portfolio by 100,000 square meters. In 2024, the company made its entry into Mumbai with the launch of its first project in Bandra, making a significant milestone in its expansion and a crucial step in broadening its presence beyond Thane.

Plans are already in place for four more projects outside of Thane, further solidifying Raymond Realty’s footprint in the real estate market.

“We recently handed over a retail space under the brand name Ten X Vibes,” Maheshwari says, referring to the 7,900 square meters of premium high-street retail space known as Park Avenue, located within The Address by GS2 project.

“Raymond Realty’s developments showcase how visionary landscaping elevates luxury living. Our partnership creates sustainable outdoor experiences – therapeutic residential gardens to active engaging community spaces – that blend innovation with biophilic design. This transformative approach, championed by COO Sandeep Maheshwari’s forward-thinking leadership, sets new benchmarks in premium real estate, where vision and creative thinking enhance both property value and resident wellbeing.” – ONE Landscape Design

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Scheduled for completion in the last quarter of the 2025–26 financial year, this development is set to become a landmark destination for high-street retail and iconic commercial experiences in Thane.

“Thane and Mumbai are developing with a lot of infrastructure, including all the new bullet and metro train infrastructure that is coming, so Thane will also be developed as a sub-business district. That is part of our expansion and growth plan,” Maheshwari adds.

There’s no doubt that real estate has now become a core part of the Raymond Group business, largely due to their strategy of not just selling individual apartments, but entire ecosystems.

“In every one of our projects, we weave a thoughtful tapestry of amenities – banquet halls that echo with celebration, serene guest rooms for restful retreat and vibrant spaces for music and entertainment,” Maheshwari explains.

“These elements are not mere additions but essential threads in crafting a living ecosystem where community and joy flourish.”

It might be an unusual way of doing business, he acknowledges, but Raymond Realty’s success speaks for itself.

“In the Thane market alone, we have 25–30 percent market share. Every third home is sold by Raymond. Built on the pillars of trust, quality, excellence and timely delivery, our projects resonate with customers, who seek more than just a space – they seek a promise fulfilled,” he says.

“Customers choose Raymond because they trust the brand and value its consistent commitment to quality.”

Reaching new heights

As Raymond Realty celebrates its centenary year, it stands proud of its legacy built on a solid foundation of trust, quality and excellence, values that are at the cornerstone of everything the company does, especially in creating value for its shareholders.

“Currently, we have 375 people with us, and we plan to increase that by 10–15 percent every year,” Maheshwari says. “We operate with high passion, perseverance and resilience, which are the key factors for retaining employees and increasing the bandwidth on how we can handle projects in multiple regions.

“We are guided by our core principles: OTIF, meaning ‘On Time, In Full.’”

Raymond Realty has not only created residential ecosystems, but a supplier ecosystem too, with fewer partners meaning bigger deals and more loyalty across the likes of architect Hafeez Contractor and interior designer Kaif Faquih, as well as Varunastra Infracon, Aseen Power and One Landscape Design.

Maheshwari has seen closer relationships pay off in the form of favorable pricing, helping him combat price rises of up to 30 percent on materials and labor over the past four years, meaning the company can continue providing dream homes and dream lifestyles.

“It’s such an emotional decision the customer has to make. The customer should feel that the money they invest in their emotional decisions is to be fully paid back to them,” he says.

“For example, someone in a 550 or 650-square-foot [50 or 60-square meter], two-bedroom apartment will have access to two hectares of open garden, 100,000 square feet [9,000 square meters] of roof terrace, plus pickleball, paddleball, tennis courts, futsal courts and cricket pitches. It gives a real delight to the customer. If you develop in this way, I think it is a game-changer.”

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