This is not the first time that the billionaire Raymond boss has lashed out at Lamborghini. Last October, he blasted the company's India and Asia heads on social media for not reaching out to him after he complained about a Lamborghini Revuelto getting stranded in the middle of the road in Mumbai.
Raymond Realty’s Managing Director and CEO Harmohan Sahni said the company, which follows a broad redevelopment-led growth strategy, will seek margins of at least 20 percent from all projects, whether redevelopment or otherwise.
At 59, Gautam Singhania is taking a pragmatic view of succession, balancing professional management with his daughters' dreams even as he lays the foundation of a trusted, enduring Raymond for the next generation
Raymond's real estate business, Raymond Realty, is in the process of being demerged from the parent and listed separately on the exchanges.
The special resolution for the 'appointment of Gautam Hari Singhania as an executive chairman' of the company and to fix his remuneration received 86.85% of the total votes cast at the Annual General Meeting
Raymond shares surged as the company reported stellar Q2 results, with profit soaring 112 percent YoY to Rs 59 crore and revenue jumping 122 percent YoY to Rs 1,044 crore, driven by strong growth across segments.
Gautam Singhania had taken to X on October 3 to share that his new Lamborghini Revuelto had an electrical failure during a test drive 15 days after delivery.
Around 45 days or so before the wedding season, Raymond Lifestyle said the business starts to see traction. This year too, an uptick in demand may be visible from the second quarter itself.
Singhnia said that Raymond has "no other competitor" elsewhere to offer across-the-board price points, or end-to-end fabric-to-garment-to-export capabilities.
Raymond Group demerged its apparel business last year and put in place a strategy for all three verticals – real estate, lifestyle and engineering. The real estate vertical is expected to list next year, says CMD Gautam SInghania.
There is already a succession plan in place for the Raymond group which is yet to be disclosed publicly. While specifics are confidential, rest assured, a well-considered and robust process is in place, maintains Raymond Chairman and MD.
IiAS suggested that Raymond's board of directors remove Singhania, along with his estranged wife Nawaz Modi, from their positions until their divorce proceedings were completed.
In Q4, the firm's consolidated revenue from operations rose 21 percent to Rs 2,609 crore
Vijaypat Singhania, who stepped down as Raymond Group chairman in 2015, has denied rumours of reconciliation with his son Gautam Singhania.
The rare display of affection between them comes at a time when Gautam Singhania is in the middle of a divorce battle with Nawaz Modi
The Raymond Group entered the real estate space with Raymond Realty, a venture exclusively headed by Group Chairman and Managing Director Gautam Singhania.
Hopefully, the Singhania family dispute will soon get resolved and Jindal will be cleared of the charges. But what happens in the interim? Should the two step down till such time as their personal issues are sorted?
The independent directors have also been advised to retain independent legal counsel to protect themselves and "delineate" themselves from the allegations.
In an internal email accessed by CNBC-TV18, the business tycoon of the textile company wrote that he remains resolute as the Chairman and Managing Director and is fully committed towards the smooth functioning of the company and its business.
Vijaypat Singhania's troubles started after he handed over his 37-per cent controlling stake in Raymond to son Gautam Singhania.
The stock has tumbled 12% since Nov. 13 when Singhania announced separation from Nawaz Singhania, his wife of 32 years and a Raymond board member, erasing more than $180 million in market value
The rift between Gautam Singhania and Nawaz Modi came into public view when videos of the latter being denied entry to a company Diwali party went viral.
'Here on Diwali doing pujas followed by dinner with them at their apartment,' Raymond chairman Gautam Singhania's wife Nawaz Modi Singhania wrote sharing a video on social media.
Raymond boss Gautam Singhania said he has separated from his wife Nawaz Modi Singhania, in an announcement that comes amid speculation over the future of the 32-year relationship.
Gautam Singhania's wife Nawaz Modi Singhania was seen sitting on the road by the gate of their property in Thane when refused entry. There was a walking stick by her side.