Gautam Singhania, chairman and managing director of Raymond group, tells Raghavendra Kamath that real estate sales will continue to be good in the coming years. He chose not to offer any comments on proxy advisory firms’ recommendation to shareholders to oppose his appointment as executive chairman of Raymond Lifestyle.
Excerpts
Raymond Lifestyle posted 70% dip in profit in Q2. How are the sales now? What is your outlook?
The last six months have been slow for all due to no weddings, elections and so on. Q3 and Q4 are looking good. Retail sales are vibrant now. Weddings will continue till May next year. I read somewhere average spending on wedding is ₹36 lakh and 20% of that goes for clothing.
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