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K. Raheja Realty

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K. Raheja Realty
IndustryReal estate
Founded1956
Headquarters
Mumbai, India
Area served
India
Key people
Sandeep Raheja
(Chairman & managing director)
SubsidiariesInfiniti Mall
Websitewww.krahejarealty.com

K. Raheja Realty is an Indian real estate company, headquartered in Mumbai, Maharashtra. The company was founded in 1956 and is led by Sandeep Raheja, who serves as both the chairman and managing director.[1] K. Raheja has diversified interests in real estate including both commercial and residential property development, as well as malls and hospitality.[2][3] The company owns a subsidiary called Infiniti Mall, which operates a chain of shopping malls in India. The first Infiniti Mall opened in 2004, followed by another one in Mumbai in 2011.[1][4]

History

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K. Raheja Realty was founded as K Raheja Construction in 1956[5] and is located in Mumbai, Maharashtra.[1][6] Sandeep Raheja, a graduate of The Academy of Architecture,[7] Mumbai, serves as the chairman and managing director of the company.[8] The company is involved in the development of residential, industrial, and commercial projects in Mumbai, Bengaluru, Coimbatore, Chennai, and Pune.[9][10] It expanded its operations into the hospitality sector through its wholly-owned subsidiary, K Raheja Resorts & Hospitality Services (KRRHS). It operates three hotels: The Retreat Madh, Ramada Plaza Palm Grove,[11] and The Carlton.[12][13] In 2001, K Raheja acquired a four-star property in Chennai, previously known as Hotel Sreelekha, through its subsidiary KRRHS. K Raheja Resorts entered into a management agreement with Marriott International Inc to launch the Courtyard by Marriott brand in India.[12] In 2018, Conrad Hotels, a hotel chain owned by American hospitality company Hilton Worldwide, opened its first Conrad hotel in India.[14] This hotel is managed by Hilton Worldwide and owned by Palm Grove Beach Hotels, a subsidiary of K Raheja Realty.[15][16][17]

Subsidiaries

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Infiniti Mall

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Infiniti Mall is a chain of shopping malls in India, operating as a subsidiary of K. Raheja Realty.[18] The first Infiniti Mall began operations in Andheri, Mumbai, in 2004.[19] It is the city's third oldest shopping mall.[20] A second mall was launched in Malad in May 2011.[1][18][21]

Philanthropic work

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The group supports education, healthcare, and social welfare.

Sheila Gopal Raheja Foundation

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K. Raheja Realty's philanthropic arm, the Sheila Gopal Raheja Foundation, was established in 1998 as a Public Charitable Trust under the Bombay Public Trust Act. Named after the late Sheila Raheja, the wife of the late Gopal Raheja, it focuses on education and charitable causes.[22] The foundation facilitated the creation of educational institutions like the L S Raheja School of Architecture[23] and the Sheila Raheja Institute of Hotel Management.[24][25] In 2022, it partnered with Tata Memorial Hospital and the ImPaCCT Foundation for the 'HOPE 2022' initiative,[26] supporting children with cancer.[27]

Projects

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  • The Retreat Hotel and Convention Centre[28]
  • The Carlton[29]
  • Ramada Plaza by Wyndham Palm Grove
  • Conrad Pune[30]
  • Courtyard by Marriott[31]
  • JW Marriott Mumbai Juhu[32]

Awards

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In 2023, the company received two awards: 'Landscape Project of the Year' and 'Residential Complex of the Year' for its residential project Raheja Residency at the 15th Realty+ Conclave & Excellence Awards.[33] In 2024, K Raheja was awarded the Maharashtra Gaurav Award, a state recognition for contributions to real estate in tier 2 and 3 cities. The award ceremony was held at Taj Hotels in Mumbai, where the company was awarded by Uday Samant, Minister of Industries, Government of Maharashtra.[34] Additionally, the company received the 'Ultra Luxury Residential Project of the Year' award for its Raheja Residency project at the Times Business Awards, North 2024. The award was presented by renowned film actor Suniel Shetty during the ceremony held at The Grand in New Delhi on April 3, 2024.[35]

References

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  1. ^ a b c d "Explore how this tycoon spent three decades transforming the real estate landscape; Learn about his journey, education, and more". Financialexpress. 2023-12-30. Retrieved 2024-01-20.
  2. ^ "The strategies used by Gen Z and Millennials to buy their ideal homes". Financial Express. 2024-07-21.
  3. ^ "MahaRERA mandates delivery date for amenities and occupation certificate - CNBC TV18". CNBCTV18. 2024-08-13. Retrieved 2024-08-14.
  4. ^ Gupta, Vaishnavi (8 October 2022). "How Malls are Gearing Up for the Festivities". Indian Retailer. Retrieved 2023-08-22.
  5. ^ Sinha, Saurabh (2014-02-04). "Hilton Worldwide signs management agreement to open first Conrad Hotel & Resorts property in India with K. Raheja Constructions Group". The Times of India. ISSN 0971-8257. Retrieved 2024-01-20.
  6. ^ Tamta, Prashant. "K. Raheja Realty poised to touch new heights". DNA India.
  7. ^ "K Raheja Realty Wins 'Residential Complex Of The Year' Award For Its Project Raheja Residency". English Jagran. 2023-12-30. Retrieved 2024-01-20.
  8. ^ Kumar, Sandeep (2024-01-20). "There will always be demand for immersive retail: Sandeep Raheja, K Raheja Realty". India Retailing. Retrieved 2024-03-27.
  9. ^ Kumar, Sandeep (2022-02-07). "'The scope for Innovation for Retail Shopping Experience is Limitless': Sandeep Raheja, Chairman, K Raheja Realty". Indiaretailing.
  10. ^ "K Raheja Realty Expressed Interest for Bankrupt Asian Hotels". Realty Plus Magazine.
  11. ^ "Mumbai's Ramada Plaza by Wyndham Palm Grove: A 5-Star Oasis for business travelers". www.ibtimes.sg. 2024-04-05.
  12. ^ a b Tiwari, Ashish. "Marriott opens its first Courtyard — in Chennai". DNA India.
  13. ^ "Raheja Realty among seven prospective applicants for Asian Hotels". www.thehindubusinessline.com. 8 March 2023.
  14. ^ Mendes, Jayashree Kini. "As a luxury brand, we are expected to exceed and excel customer expectations". www.constructionweekonline.in.
  15. ^ "Hilton brings in luxury brand Conrad to India". BusinessLine. 2016-04-06. Retrieved 2024-01-20.
  16. ^ Sathyanarayanan, Divya (2014-02-04). "Hilton signs agreement with K Raheja Constructions to open first Conrad hotel in India". The Economic Times. ISSN 0013-0389.
  17. ^ Chen, James. "Hilton to Open First Conrad Hotel in India with K. Raheja Group". Travel Weekly Asia.
  18. ^ a b "Infiniti Malls sees 15-20% YoY footfall growth despite rise in online shopping". Moneycontrol. 2019-04-16. Retrieved 2024-01-20.
  19. ^ "Infiniti Mall celebrating 20 years of excellence in Mumbai". DNA India. Retrieved 2024-07-04.
  20. ^ Crossley, Isabelle. "Infiniti Mall launches new stores including Gap, Mumuso". FashionNetwork.com.
  21. ^ "Entertainment now takes precedence in malls over shopping, says Infiniti Mall CEO". Moneycontrol. 2018-09-17. Retrieved 2023-08-22.
  22. ^ "Understanding The Impact Of Long-standing Real Estate Development". BW Businessworld. Retrieved 2024-10-10.
  23. ^ "L.S. Raheja School of Architecture comes together to celebrate its annual festival Aakar". India Education. 2022-03-15.
  24. ^ "Mumbai based hotel management students participate in a novel culinary challenge". The Times of India. 2018-09-15. ISSN 0971-8257.
  25. ^ "Sheila Raheja Institute of Hotel Management students come together to create 'Global Odyssey'". HotelierIndia.
  26. ^ "Sheila Gopal Raheja Foundation associates with IMPACCT Foundation – Tata Memorial Hospital for 'HOPE 2021'". businessnewsthisweek.com. 2021-12-22.
  27. ^ Mayapuri. "शीला गोपाल रहेजा फाउंडेशन 'HOPE 2021' के लिए इम्पैक्ट फाउंडेशन - टाटा मेमोरियल अस्पताल के साथ जुड़ा". mayapurimagazine.com. Archived from the original on 2023-07-27.
  28. ^ "The Retreat Hotel And Convention Centre – A Modern Monument In The Lap Of Nature". BW Businessworld.
  29. ^ "Enjoy a mix of nature and modern comforts close to Kodai Lake at The Carlton". News24. January 9, 2024.
  30. ^ Sathyanarayanan, Divya (2014-02-04). "Hilton signs agreement with K Raheja Constructions to open first Conrad hotel in India". The Economic Times. ISSN 0013-0389.
  31. ^ "K Raheja Realty Expressed Interest for Bankrupt Asian Hotels". Realty Plus Magazine.
  32. ^ "K Raheja Realty Expressed Interest for Bankrupt Asian Hotels". Realty Plus Magazine.
  33. ^ "Splendid Finale of 15th Realty+ Conclave & Excellence Awards 2023 – West". Realty Plus Magazine. Retrieved 2023-10-28.
  34. ^ "K Raheja Realty receives Maharashtra Gaurav Award". The Times of India. 2024-03-24. ISSN 0971-8257. Retrieved 2024-03-27.
  35. ^ "K. Raheja Realty's Raheja Residency honoured as Ultra Luxury Residential Project of the year". DNA India.
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