Business Standard

Business as usual in Raymond: CMD Gautam Singhania amid family feud

Earlier this month, Singhania said he has separated from his wife Nawaz, in an announcement that came amid speculation over the future of the 32-year relationship

Gautam Singhania, Raymond

Gautam Singhania, chairman of Raymond.

Press Trust of India New Delhi

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Amid issues in his personal life, Raymond Chairman and Managing Director Gautam Singhania has assured employees and board members that it is "business as usual" in the company and that he is fully committed to its smooth functioning.
In an internal mail to the employees and the board members of Raymond, Singhania, who announced separation from his wife Nawaz earlier this month, said he has chosen not to comment on the reports in media "about matters pertaining to my personal life", saying "maintaining the dignity of my family is paramount to me".
"However, I remain resolute as Chairman & Managing Director and am fully committed towards the smooth functioning of the company and its business. Even in these difficult times for me, I assure you that at Raymond, it is business as usual," he asserted in his mail.
"As you all are aware that over the last couple of months, we have made significant strides towards growing our businesses exponentially and have had our best quarter in history on top of a consistent upswing in performance over the last nine quarters."

Recently, "we have almost doubled our engineering business by entering sunrise sectors of aerospace, defence, electric vehicle components through MPPL's (Maini Precision Products Ltd) acquisition, and have also been awarded two marquee real estate projects in our focus market of Mumbai Metropolitan Region", Singhania added.
Despite the issues in his personal life, he said, "I am steadfast to create and deliver value to all our shareholders and ensure the interests of our employees, customers, and other stakeholders".
When reached out, a Raymond spokesperson confirmed that it was an internal mail sent by Singhania to the employees and board members of the company.
Earlier this month, Singhania said he has separated from his wife Nawaz, in an announcement that came amid speculation over the future of the 32-year relationship.
The billionaire industrialist, whose net worth is reported to be over Rs 11,000 crore, made the announcement over the microblogging platform X, saying it was not the same Diwali as in the past.
The industrialist -- who is helming the multi-decade group having roots in textiles and branched out into newer ones like real estate -- said Nawaz, a fitness trainer, and he were together for 32 years as a couple.
The couple has two children, and Singhania said they grew together in their years of companionship and were a source of strength for each other.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Nov 27 2023 | 5:18 PM IST

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