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Royal India Corporation Limited (RICL), a prominent player in real estate and infrastructure, is setting new benchmarks in urban living and economic growth. With visionary leadership and a commitment to quality, RICL is a beacon of innovation in India's dynamic real estate sector.
RICL’s journey is marked by ambitious projects, earning them the ‘Best Upcoming Project of 2024 in Real Estate, Mumbai’ award at the ‘Outlook Business Spotlight-Realty Awards – Showcasing Property Power-play,’ presented by Business Mint. This recognition, presented by Indian celebrity Shruti Haasan, underscores RICL’s dedication to excellence and innovation, solidifying its position as an industry leader.
A flagship project in RICL’s portfolio is the Kalyan Marina, a grand venture valued at INR 538 crore. Spanning 2.2 acres in Kalyan, it aims to offer 5 lakh square feet of premium residential space with world-class amenities and commercial spaces, promising revenues of INR 115 crore. Located just 2 minutes from the upcoming Kalyan superstation, the project has received widespread endorsement, including praise from the Prime Minister, and key investor support.
RICL’s success is evident in previous projects like Vertu at 5 Gardens and a luxurious property in Matunga, both celebrated for their craftsmanship. As Kalyan emerges as a real estate hub, Kalyan Marina is set to elevate regional development with its blend of luxury, convenience, and connectivity.
RICL is poised for substantial growth, highlighted by a ₹99 crore preferential issue, backing ambitious projects like Kalyan Marina and upcoming developments in Juhu and Kalyan APMC. Increased promoter stakes and industry leader investments further bolster RICL’s market position.
In a strategic diversification, RICL is acquiring a premier orthoquartzite quarry valued at over ₹900 crore in Bhopal (Raisen). This acquisition will expand RICL into the natural stone industry, meeting global demand for high-quality stone materials. The quarry’s properties, including durability and aesthetic appeal, position RICL to cater to international markets, emphasizing sustainable mining practices and environmental stewardship.
This move into natural stone strengthens RICL’s market position and reinforces its reputation for innovation across sectors. RICL is not only shaping urban living but also catalyzing economic growth within India and beyond. As a stalwart in infrastructure development, RICL continues to innovate and redefine standards.
Manoj Punamiya, CEO of RICL, stated, “We are entering an exciting phase of expansion. Our focus on high-potential projects like Kalyan Marina and our acquisition of a premier orthoquartzite quarry underscores our commitment to redefining urban living and responding to global demand.”
RICL’s commitment to excellence goes beyond business success; it aims to enrich communities and deliver unparalleled value to stakeholders. This ethos is reflected in their meticulous planning, superior craftsmanship, and respect for environmental sustainability. Whether pioneering real estate ventures or entering new markets, RICL adapts, evolves, and leads with integrity.
Looking ahead, RICL remains poised to navigate new challenges and opportunities with the pioneering spirit that has defined its journey, reaffirming its commitment to leadership, integrity, and lasting value in every project.