We have built a strong brand and continue the Raymond legacy in real estate: Gautam Singhania

What are your thoughts on the real estate business & the Thane project of yours?
We are holding on our own with the fastest constructing project today in Thane. We are doing a slab in under seven days and more, so we are going to deliver this project two years ahead of our RERA commitment. The RERA commitment was 2024, we are delivering the project on 10th December, 10 am this year and we announced this last year. So, we set a new benchmark in the industry, and I am very satisfied that we have built a strong brand and continue the legacy of the Raymond brand in this space in Thane.

How is the pipeline looking right now, you have a big land bank out there, the way volume offtake has been so far, and you have given the market a knowledge of what is lined up ahead, how is the volume offtake in all of that?
If you get the right product, price, and location, you will get traction and eventually you have X amount of stocks to sell, you want to be the preferred stock. Once you are sold, then the rest of the players can fight for the rest of the market and that is what we are seeing. We are giving a fantastic product which is in the right location.

I tweeted a year-and-a-half or two years ago, when the building started coming up and I put up a picture of the building and I said silencing my critics because everybody said these guys will never be able to make the building. Not only have we made the building, but we are delivering two years ahead of our commitment and that has built a very strong brand for us. People now take you very seriously. They understand the project will get delivered and hence the traction for sale has been very good.

You have also personally put your own effort; I mean your team members have told me that you personally put a lot of hands-on approach and mind share into the real estate business.
New businesses require a lot of attention. You need to be there. You need to make sure the system is right. Now we have got a good CEO. We have a COO. We have put a team in place. So now I can focus on the larger picture of where we want to go. I do not have to be on site every week like I used to be but apart from that I am very passionate about it, so I enjoy going on site. I am very happy in the boardroom as well as on a construction site, so I do not have a problem with that.