Raymond Realty has entered Mumbai’s ultra-luxury residential market with the launch of Invictus by GS, BKC, a marquee redevelopment project in Bandra Kurla Complex (BKC) carrying a revenue potential of ₹2,000 crore. The two-acre development represents a strategic scale-up for the company as it sharpens its focus on high-value real estate.
Designed as an upscale urban enclave, the project comprises six residential towers featuring 23 habitable floors atop four basements. The development integrates IGBC-aligned sustainable design features and leverages BKC’s strategic connectivity to south, central and Navi Mumbai.
According to Harmohan Sahni, CEO, Raymond Realty, the launch marks a defining shift in the company’s growth strategy.
“Invictus by GS, BKC is a strategic milestone signalling our structural pivot into the ultra-luxury segment. This project alone unlocks a revenue opportunity exceeding ₹2,000 crore. It reinforces the foundation of our ₹14,000-crore JDA portfolio and accelerates progress toward our annual topline target of ₹4,000 crore,” he said.
Invictus by GS is part of six Joint Development Agreements (JDAs) Raymond has signed across Bandra, Mahim, Sion and Wadala, cumulatively valued at ₹14,000 crore in gross development potential. Additional JDA opportunities are currently under assessment. The company expects JDAs to contribute around 50% of annual pre-sales by FY28, up from 22% in FY25.
The company’s financial performance in Q2 FY26 reflected robust operational momentum. Raymond Realty reported ₹455 crore in bookings, driven primarily by its Ten X Era project in Thane and The Address by GS in Bandra—though the figure marked a 19.3% year-on-year dip. Net profit surged to ₹60.2 crore, significantly higher than the ₹4.92 crore reported in the corresponding quarter last year, while revenue jumped 207.9% Y-o-Y to ₹696.5 crore. Sahni attributed the strong profitability to execution efficiency and sustained demand.
With the latest launch and ongoing projects, Raymond Realty’s total potential revenue from its real estate portfolio now approaches ₹40,000 crore. This includes its expansive 100-acre land parcel in Thane, carrying a development potential of ₹25,000 crore. Of the 55 acres currently under development, the company has already clocked ₹8,200 crore in sales and realized ₹6,300 crore in collections.