Raymond Realty marked a momentous milestone to celebrate the completion of TenX habitat towers, the maiden project of the group’s real estate venture. The first three towers in the project have been completed 24 months ahead of RERA timelines. This project envisaged to elevate the benchmark of living standards in Thane was launched in 2019 and designed by architect Hafeez Contractor. TenX Habitat is currently the tallest tower in the Thane skyline with 42 floors comprising 10 towers.
The first few buyers were handed over the keys to their exquisite flats by Gautam Hari Singhania, Chairman and Managing Director, Raymond Group, during the event. Speaking on the occasion he commented; “It is a very proud moment for us to have achieved this commendable feat in just three years of our operations that many established players have not been able to do so. Last year in the month of October, we made a commitment to deliver a part of our maiden project TEN X on 10th December 2022 and I am delighted that we lived up to our promise. We have set an industry benchmark by delivering 3 towers, 24 months ahead of the RERA deadline and we were able to achieve this despite facing many headwinds like COVID, and escalation in raw material prices among many others. Today, we are extremely delighted that Raymond Realty which is our new business has kept its promise to its customers that further enhancing our core values of Trust, Quality, and Excellence.”
The project has been designed on principles of sustainability, modern architecture, and contemporary design celebrating a new way of living life that lets residents escape from the urban realm.
Harmohan Sahni-CEO, of Raymond Realty, commented; “Having taken on the onus to deliver a project of this size and scale amidst the backdrop of the pandemic was no easy feat. With a whole new team, labour crunch, and restrictions, we geared up to this challenge to create a landmark project which is the first of its kind in the MMR region. At Raymond Realty, we constantly strive to create world-class products that set new benchmarks in the industry.”
The group’s premiere real estate projects - The Address by GS and TenX Habitat - have bagged the first and the second position in the Thane city region with 78 and 124 units sold worth Rs 201 crores and Rs 147 crores, respectively. This achievement stands in line with Raymond Realty showcasing a strong sales growth by three-fold to Rs 245 crores from Rs 81 crores compared with the previous year in the second quarter. The realty segment also reported a quarterly EBITDA margin of 25.8%.
