Raymond expects growth at double of inflation in FY24

New Delhi: As the demand has started to come back slowly, diversified group Raymond expects its growth rate to remain "at least double of inflation" this fiscal, according to Raymond Chairman and Managing Director Gautam Hari Singhania.

Singhania says he is "optimistically" looking at the future with growth in mid to high teens percentage in the coming three-five years. The diversified group expects higher growth coming from its new realty business, while its lifestyle business comprising suiting and shirting verticals, gives a push to the growth. "Post Covid FY23 has been a good year for Raymonds so far. It was good for everybody. Things have turned around. I am optimistically looking at the future," Singhania said. Raymond has two fundamental businesses - lifestyle and real estate. It was facing a slowdown because the middle class, which creates demand for clothing to housing and education, had a little bit of an impact on income because of the recession.