Nawaz Modi Singhania has stepped down as Director on the board of Raymond Ltd, effective March 19, 2025, according to a company announcement released today.
In a statement, Raymond’s Chairman and Managing Director, Gautam Singhania acknowledged her contributions, saying, “We thank Nawaz Modi Singhania for her services as a board member over the years.”
The company provided no specific reason for her departure. Singhania emphasised the company’s commitment to “upholding the highest level of governance while continuing to navigate the evolving landscape of the industry.”
Significant restructuring
Raymond underwent significant restructuring in 2024 when it demerged its Lifestyle Business into a separate listed entity. The company now focuses on two core businesses: real Estate and engineering.
The real estate division has established itself among the top 10 players in India, notably delivering its first project two years ahead of RERA timeline. Meanwhile, the engineering business maintains leadership in manufacturing files and hand tools with significant domestic and international market presence.
The company recently strengthened its engineering portfolio through the acquisition of Maini Precision Products Limited (MPPL), positioning it to target high-growth precision engineering products for automotive, EV, aerospace, and defense components.
Raymond Group, established in 1925, began as a fabric manufacturer before expanding into other sectors.