Revival in demand a positive sign; expects growth at double of inflation in FY24, says Raymond

Diversified group Raymond expects to at least double its growth rate in the current fiscal, driven by growth in its real estate business and a push from its lifestyle business' suiting and shirting verticals. Raymond Chairman Gautam Hari Singhania said he was "optimistically" looking at growth in the mid to high teens percentage in the coming three-five years, as demand slowly returns, with a reasonable bounce back expected for the wedding season. Raymond plans to capitalise on growth momentum with the opening of 400 to 500 new retail stores and an incremental expansion on an asset-light model, according to Singhania.