Chandru Raheja

Chairman, K Raheja Corp Pvt Ltd

Birth Details1941

NationalityIndian

LeagueBusiness Leader

EducationLLB, University of Mumbai

Net Worth$2.7 billion (As of July 28, 2021)

Chandru Raheja’s Assets:

K Raheja Corp Pvt Ltd.
Stake in Shoppers Stop Limited

Chandru Raheja’s Journey so far ...

The K Raheja group was set up by Chandru Raheja’s father Lachmandas Raheja in 1956
The business was divided between Chandru Raheja and his brothers Gopal and Suresh in 1996
While his brothers Gopal and Suresh set up K Raheja Constructions and K Raheja Universal, respectively, he formed K Raheja Corp. and Shoppers Stop Ltd.
Raheja has been widely credited for expanding his family’s real estate business and revolutionising shopping centres in India
In March 2005, Raheja became the chairman of Shoppers Stop Ltd. and continued in the position till June 2018
To further their commitment towards sustainable development, his company signed a memorandum of understanding with the CII-Green Building Council in 2007
By 2018, the company, K Raheja Corp. had developed 11.42 million sq ft green commercial offices spaces in the country
The company had also built 29 LEED-certified buildings in India by 2018
Owing to its progressive HR policies, Raheja’s firm was featured on the list of Top 100 India’s Best Companies to Work For in 2018
Raheja has developed projects in various sectors such as residential, commercial and retail. Some of his firm’s notable projects include Shoppers Stop, Inorbit Mall, Westin in Hyderabad, JW Marriot in Juhu, Vivarea and Mindspace
Currently, Raheja sits on the board of K Raheja Corp Pvt Ltd as its chairman and also is a member of the board of Inorbit Malls India Pvt Ltd.
With over four decades of experience in the industry, Raheja is one of the richest real estate developers in India

Before you go ...

As a part of his philanthropic endeavours, Raheja serves as a trustee in the Diabetic Association of India
He contributes towards the improvement of education through the Sadhana Education Society, where he is the president
He is also associated with the NGO MDRI, which sources bone marrow from donors, as an executive member

Last Updated: 28/07/2021

Chandru Raheja News

World Bank member IFC invests Rs 650 cr in Mindspace REIT’s sustainability-linked bondsGlobal development institution International Finance Corporation (IFC), a member of the World Bank Group, has invested over Rs 650 crore in K Raheja Corp-backed Mindspace Business Parks REIT through an issue of sustainability-linked bonds.
Shoppers Stop aims to open 60 new INTUNE stores in FY25Shopper Stop plans to open 60 new INTUNE stores this fiscal, aiming to capitalize on mass premium opportunities in India's value fashion sector. With strategic investments in merchandising and analytics, the retailer is expanding its private labels and beauty brands to cater to evolving consumer preferences and growing brand consciousness.
Banks may not be sexy but there are pockets of value; buy dips in defence, capital goods stocks: Nitin RahejaNitin Raheja says the faster the growth and the better the growth, the more the capital markets are likely to trend upwards. But there would be periods of consolidation. Structurally, if you look at where we stand and capital markets being a proxy for the GDP and growth, it is a good place to be in, it is a great way to compound money.
Single-owned commercial assets outperform strata properties across key India citiesThese assets in pockets of key regions such as Mumbai, Bengaluru, Pune, Gurgaon, and Chennai have demonstrated rental yield advantages of up to 32%. For example, in Pune’s South West region, single-owned properties showed an 18% higher rental yield compared with strata properties, while in Chennai’s Southern Suburbs II, the difference was 32%, showed data from CRE Matrix.
Investors rejoice: Surakshit Nivesh Yojna (PDPMY Phase-2) launches at Delhi Mall ComplexRaheja Developers launches Surakshit Nivesh Yojna (PDPMY Phase-2) at Delhi Mall Complex, offering investment opportunities with shop sizes from 40-150 Sq. Ft. and special benefits for senior citizens and women.
Table Space targets high growth, leases over 2.5 million sq ft across four citiesTable Space expands its presence in Indian cities by acquiring and leasing office spaces to meet the growing demand for managed workspaces. They aim to add more space in key metros and provide world-class workspace solutions.
Will Mr Market get it right this election also? Is nervousness about range of BJP victory justified?Nitin Raheja discusses market reactions to past elections, current nervousness, and potential investment strategies in various sectors amidst election uncertainties and market corrections.
K Raheja Corp to redevelop country’s first mall SOBO Central into luxury residencesSpread over 1.3 acres in prime Haji Ali locality, the mall is expected to make way for an around 50-storey sea-view superstructure with nearly 250,000 sq ft development potential. Based on the current property prices in the vicinity, the project is estimated to fetch over Rs 2,000 crore revenue.
Delhi RERA chairman urges builder to report non payment by buyersDelhi-RERA Chairman Anand Kumar has urged the real estate developers to file complaints against buyers of they are not making the payment on time. At the CII Real Estate Conference, Kumar said that there is a need to train, skill human-resources in real-estate sector. Kumar said that the for the completion of a project, timely payment from the buyers is necessary.
Kishore Biyani settles lenders’ dues by selling SOBO mall to K Raheja CorpThe settlement was backed by realty developer K Raheja Corp., which acquired SOBO Central Mall. Earlier known as Crossroads, SOBO Central is the country’s first mall, having opened in late 1990s in south Mumbai's Haji Ali locality.
Karnataka: Congress seeks AAP support in campaign effortsKPCC President DK Shivakumar, who is also the Deputy CM, has written to AAP State President Mukhya Mantri Chandru, requesting him to deploy the party workers and leaders to work for the success of Congress candidates to save the country's “democracy and the Constitution” that had been threatened under the authoritarian regime of the BJP. The AAP joining hands with the Congress would defy communal forces and consolidate the secular votes, he said.
K Raheja inks pact to jointly develop 2.5-acre land parcel in Mumbai’s WorliThe developer’s residential platform and the landlord have finalised a revenue share structure for the proposed joint development, wherein K Raheja Corp will get 57% revenue share, while the balance 43% will go to the landlord. As per this agreement, the developer will be responsible for all planning, design, approvals, execution, branding, and sales efforts. The pact stipulates that K Raheja Corp is expected to complete the project within five years.
Tata Projects leases 1.2 lakh sq ft office space in Mumbai’s Powai for HQThe company has leased the space in commercial tower Cignus Powai, which is a project of K Raheja Corp's hospitality business Chalet Hotels, for a total term of five years. The Tata Son’s subsidiary will be paying rentals of nearly Rs 86 crores through the entire tenure of the lease. The commercial real estate market in India's major cities is transforming due to changing company needs, rapid infrastructural development, and evolving workplace norms, as recent lease deals signal the creation of new hotspots drawing firms and investors.
Time to tilt towards largecaps; 3 sectors to get into on correction: Nitin RahejaNitin Raheja advises largecaps amid corrections in mid and smallcaps. Financials face challenges, chemical companies show resilience. Birla Group unlocking value. Caution on FMCG and battery stocks. Pharma presents defensive play with growth potential.
Can there be value buying in HDFC Bank? Should one go for upstream oil cos? Nitin Raheja answersNitin Raheja discusses challenges faced by OMCs, the pressure on HDFC Bank, re-rating of defence stocks, performance of upstream oil companies, and the positive outlook for the pharma sector. Coming to HDFC Bank, he says we are getting to that stage where there is clearly value sitting there. It is only a question of when you start seeing the flow ease off and I think that will happen sooner than later.
Mumbai: Irresistible offers rain down on owners of old propertiesIn Bandra (west) near Mount Mary, Sea Breeze society has signed a redevelopment deal with Sunteck Realty. Flat owners will receive 50% more space in the new building. Sea Breeze currently has 16 members occupying the ground-plus six-floor structure. Members occupy flats whose areas range between 1,500 and 2,000 sq ft (carpet). Corpus for the members is calculated at the rate of ?3,000 per sq ft (?45 lakh to ?60 lakh) of their existing carpet area. The new building is expected to be 16 floors with about 38 flats.
Barclays Bank, K Raheja Corp ink Rs 306-cr lease deal for office in Mumbai’s WorliBarclays Bank Plc has secured a sea-view front office space in Mumbai's Worli locality for over 10 years, paying a lease of nearly Rs 306 crores. The lease includes a total of 64,000 sq ft of office space on the 32nd and 33rd floors of the Altimus office tower, developed by K Raheja Corp's subsidiary Whispering Heights Real Estate.
Mindspace REIT leases 4.5 lakh sq ft office space in December quarterMindspace Business Parks REIT has leased 4.5 lakh sq ft of office spaces in Q4, bringing its cumulative leasing for the year to 1.6 million sq ft. The REIT has seen strong demand with over 80% of new and pre-leasing by existing occupiers. It re-leased 4 lakh sq ft of office space at a 17.1% higher rent during the quarter. The net operating income grew 10.4% to Rs 473 crore, with a declared distribution of Rs 285 crore.
Ambika Chauhan of Parle buys 2 sea-view luxury flats in South MumbaiAmbika Chauhan Aibara, from Parle Products' promoter family, purchased two sea-view luxury apartments in Mumbai's Mahalaxmi locality. The apartments are part of the luxury project Raheja Modern Vivarea developed by K Raheja Corp Homes. The recent deals in the tower include purchases by the Halan family and the promoters of Creative Group of Industries. Raheja Modern Vivarea is an under-construction project on a land parcel that previously housed a private textile mill.
Smart Money, smart investment: Raheja Developer's Republic Day Special – 'Special 26 Extravaganza' for Delhi Mall InvestmentsRaheja Developer's 'Special 26 Extravaganza' offers exclusive benefits for potential investors in The Delhi Mall. These benefits include a complimentary iPhone 15 Pro upon booking, a substantial discount of Rs. 26,000/- PSF, exclusive offers on lockable shops, a 26% return through the bank's Systematic Withdrawal Plan (SWP) plan, a 26+10 Months Lease Guarantee, and 26 Months Maintenance-Free* ownership. The payment plan offers flexibility with a modest 26% booking amount and an additional 24% within 60 days. The Delhi Mall's strategic location makes it an enticing destination for shopping, entertainment, and investment opportunities.
After a huge run-up, what should be the view on PSU stocks? Nitin Raheja answersNitin Raheja discusses the valuations of defence stocks and railway stocks, emphasizing the lumpiness of these businesses and the potential for big variances in quarterly performance. He also mentions the signs of revival in the rural economy and the expected increase in spending as the elections approach. Raheja expects better results from FMCG players due to benign inflation in some commodities.
Halan family buys luxury apartments in SOBO’s Mahalaxmi for Rs 104 croreSeveral members of the family have purchased these apartments on the 23rd, 24th, 25th, and 26th floor of luxury project Raheja Modern Vivarea on Jacob Circle from the developer K Raheja Corp. While four of these apartments are priced at Rs 14.68 crore each, other four houses are priced at Rs 11.31 crore, showed the documents accessed through IndexTap.com.
Mumbai wards to face water cut for 2 days; Check if your area is impactedMumbai water cut: Mumbai residents in various areas, including Malabar Hill, Dadar, Lower Parel, Kurla, and Powai, will experience water supply disruptions between January 4-5. The Brihanmumbai Municipal Corporation (BMC) officials identified a leakage in the 900mm cross connection between Upper Vaitarna and Vaitarna main near Powai.
Very positive on the overall financial pack, bullish on large banks: Nitin RahejaNitin Raheja says: “Six months down the road or in the second half of this year, you were to see rate cuts actually transpire. At that period of time, some of these larger banks will have superior return on asset and return on equity standing there would actually get re-rated from where they stand today. It all portends very well for some of the large banks now.”
Market is uptrending; wait for the bull market corrections: Nitin RahejaNitin Raheja says: “The consumer companies are great businesses with great cash flows and great returns. But growth is missing. Typically we look at businesses in high growth mode. We like to invest in businesses where we believe earnings can grow and double at almost 15% to 16% compounded over the next five years. We do not find that in some of these businesses.”
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