Raymond Ltd., which is into lifestyle and real estate among others businesses, is eying up to 25% growth in exports, according to chairman and managing director, Gautam Hari Singhania.
“Exports are doing welI,” he said. “I think exports will grow over 20 to 25% because the China plus one strategy is working out. People have realised that they cannot have all the eggs in the China basket because if China can go into any volatile situation tomorrow, they will be forced to pull out,” he added.
“American companies might have political pressure not to do business with China, so they would say you would have at least two or three suppliers if you go to China plus one. India has to gain from it,” he added. The company’s major exports markets are America, Europe, Japan. It exports garments and fabrics.
On the domestic operations, he said since the Indian economy is doing well, any company which is into the affordable luxury space seems to be doing pretty well.
“So, in lifestyle [garments & fabrics] , we are hoping to do well because the wedding season is coming up and a lot of sales is driven by that. So, we’re seeing a pickup now. And as far as real estate is concerned, we have created one of those most solid brands today in the market, and that’s giving us traction,” he said.
“I would say is doing reasonably well. Of course we can do better,” he added.
The company which started its real estate business four years back by developing its land in Thane, has embarked on a joint development strategy.
He said lifestyle and real estate business would grow at the rate of “at least double of inflation.”
Answering a question on how has the company changed over the last 25 years and whether he is happy, he said, “I never rest, keep pushing, keep going. So, the company is transforming. The company has changed from a governance point of view. It’s changed significantly from a people point of view.”
“From a performance point of view, it’s significantly changed. If you see the last five quarters, we have delivered five, very solid, quarters of results,” he said.
“We continue to be focused on the future. From a management point of view, pre-COVID, the whole team was asked to go. We have a new team in place. From a board point of view, we are getting a new directors. So, everywhere we made a change, which I think, fundamentally has, and it is just the whole mindset,” he added.
“You won’t get five quarters of consistent good performance if there was no focus,” he further said. He said the company will soon announce its ESG roadmap.