Ashish S. Raheja is the Managing Director & CEO of Raheja Universal (Pvt) Ltd. He was appointed as a Director on April 10, 1996, Managing Director on January 15, 2004 and MD & CEO of the Company on June 30, 2025. He has a bachelor’s degree in commerce from Sydenham College of Commerce and Economics and was a gold medallist in financial accounting and auditing.
As MD & CEO of Raheja Universal (Pvt) Ltd. (RUPL), Ashish is accredited for his dynamic leadership and transforming the company from a family-owned enterprise into a professionally managed Corporate. He has nearly three decades of experience and is responsible for land identification & acquisitions and project conceptualization. He has driven Mega Projects in Residential, Commercial, and Industrial segments.
He has also facilitated 10 million sq. ft. of Completed Projects with a multitude of premium/luxury projects mainly across Mumbai Metropolitan Region (MMR).
Some of the Landmark Projects include Buckley Court (Colaba), One, Altamount Road (Altamount Road), Raheja Legend (Worli), Raheja Atlantis (Worli), Raheja Imperia I & II (Worli), Raheja Empress (Prabhadevi), Raheja Exotica (Madh Island), Raheja Acropolis I & II (Chembur), Raheja District (Vashi NX).
Raheja Universal has a legacy spanning four decades. How has the core vision and mission evolved from the company’s inception to now, where you are focusing on large, mixed-use ecosystems?
The core vision of Raheja Universal has evolved from establishing a reputation for quality and trust to becoming a strategic creator of large, future-ready urban ecosystems, mirroring the maturation of the MMR real estate sector itself.
In its initial decades, the company’s mission was built around high business ethics and delivering landmark projects in the luxury segment, established zones of Mumbai, securing a foothold in a fragmented market. This early focus saw successful developments in the southern, western and eastern parts of Mumbai, including projects like Buckley Court in Colaba, Raheja Exotica, Versova Island and Raheja Acropolis, Chembur respectively. This phase was defined by catering to high-value residential and core commercial needs in prime areas.
In recent times, the vision shifted to becoming a strategic, path-breaking, and specialized high-value asset creator. This change was driven by the necessity of scale and decentralization due to acute land scarcity and congestion in the core city. The geographical focus has shifted to Navi Mumbai which represents the company’s strategic evolution and its move to gain an early mover advantage in what is becoming the economic hub of extended MMR. This move is highlighted by the 60+ acre Raheja District at Vashi NX, which is anchored by the World Trade Center (WTC) Navi Mumbai. This flagship mixed-use ecosystem leverages the region’s new infrastructure—specifically the Atal Setu (MTHL) and the approaching commencement of Navi Mumbai International Airport (NMIA)—to create self-sustained commercial and residential clusters. By establishing a massive, globally credible project like the WTC in Navi Mumbai, Raheja Universal is shaping the region's economic growth and cementing its role as a city-shaping urban planner, moving beyond developing buildings to creating integrated metropolitan nodes.
Your major presence in Navi Mumbai, particularly in Vashi NX, precedes many recent developments. How did Raheja Universal identify the strategic potential of this micro-market early on, and how are you leveraging that 'early mover's advantage' today?
We had identified the potential of Navi Mumbai as early as 2005, long before the region appeared on every developer’s radar. Our early commitment to Vashi NX was a result of strategic foresight that anticipated the tectonic shift in MMR’s economic geography. We recognized Vashi NX as a crucial gateway micro-market destined for exponential value appreciation due to planned infrastructure. This foresight is now being decisively validated by the operational reality of projects like the Atal Setu (Mumbai Trans Harbour Link - MTHL) and the Navi Mumbai International Airport (NMIA) which is likely to commence operations by end December, 2025. These projects are not merely connectivity upgrades, but economic accelerators that are fundamentally transforming the region from a peripheral suburb into a self-sustaining commercial and logistics node.
This ‘early mover’s advantage’ is today being leveraged to establish the 60+ acre Raheja District, an integrated township, as an undisputed premier hub of the region. The inclusion of the World Trade Center (WTC) Navi Mumbai sets a new global benchmark for the entire region, instantly establishing its international business credentials. By bringing this global brand to the area first, Raheja Universal gains instant credibility, attracting FDI and high-value corporate customers & tenants, thereby cementing Raheja District as the commercial heart. This strategy ensures long-term asset value control and guarantees that all residential, commercial, and retail components within the self-sustained township benefit from the sustained economic momentum, effectively setting the price benchmarks for subsequent competitors in the entire corridor
Raheja District is described as a 60+ acre integrated township. Beyond just scale, what is the philosophy behind building a self-sustained ecosystem, and what specific socio-cultural benefits does this model deliver to residents and businesses?
Our philosophy for Raheja District transcends scale; it is the strategic intent to create a Work-Live-Play ecosystem that directly addresses the core urban challenge of congestion and commute. We believe true luxury in modern life is defined by time and efficiency. By integrating premium residences & commercial towers, a 1.5+ km retail boardwalk, and dedicated leisure facilities, we are building a self-contained urban node that minimizes the necessity of daily travel.
This model yields profound socio-cultural benefits. For our residents, it delivers a dramatic quality of life improvement, nurturing wellness, community cohesion, and allowing them to reinvest lost commuting time into their health, families, and hobbies. For businesses, the ecosystem ensures operational efficiency by placing employee residences and all necessary services including recreational activities in immediate proximity. Furthermore, the WTC association provides instant global access and credibility, fostering a dynamic commercial environment that acts as a future-ready economic hub for the entire Navi Mumbai corridor, enhancing socio-economic value regionally.
The World Trade Center (WTC) Navi Mumbai is a significant collaboration. How does this partnership directly translate to enhancing the global trade and commercial potential of the entire Navi Mumbai region, and what is its role in attracting Foreign Direct Investment (FDI)?
The World Trade Center Navi Mumbai partnership is the one of the most powerful catalyst for enhancing the region's global commercial potential, directly translating the asset into a FDI Magnet. The WTC affiliation grants Navi Mumbai an instant global identity and credibility, positioning the city on the global trade map and aligning it with leading established commercial hubs worldwide. This is achieved primarily through access to the World Trade Centers Association (WTCA) network, spanning over 300 locations globally, providing local businesses, particularly MSMEs, a direct link for business matchmaking and international referrals, significantly enhancing global trade opportunities. Furthermore, the WTC offers essential trade facilitation services, including Trade Seminars and workshops, supporting local entrepreneurs in meeting global standards.
This partnership plays a decisive role in attracting FDI by significantly lowering the perceived risk for foreign entities. It is also strategically located to leverage key multimodal transport links, including the JNPT Port and the new connectivity provided by the Atal Setu (MTHL) and the Navi Mumbai International Airport (NMIA). This makes Raheja District an unparalleled hub for logistics and global supply chain management, ensuring the WTC acts as the economic anchor, guaranteeing superior capital appreciation and higher rental yields.
Sustainability has moved from a buzzword to a necessity. How is Raheja Universal embedding Green Building standards (beyond certifications) into the design and long-term maintenance of projects like Raheja District to address the urban environmental challenges of the MMR?
Raheja Universal embeds comprehensive Green Building standards into projects to address MMR's urban environmental challenges, going beyond simple certifications. Our strategy focuses on resource efficiency, material selection, passive design, and sustainable operations.
In the design and construction phase, we prioritize material innovation: designs are optimized using Indian Standard codes for steel savings, while utilizing Ready-Mix Concrete (RMC) and Autoclaved Aerated Concrete (AAC) blocks to significantly reduce cement consumption and environmental impact. Over 50% of building materials are sourced locally to reduce transport emissions. Also, we use green-certified materials like steel, glass, AAC blocks, and responsibly sourced wood to lower the overall carbon footprint.
To ensure good air quality during construction, we have implemented an air quality monitoring system at all our sites, which continuously observes the air quality. We conduct regular water sprinkling using a water fogging system, and we ensure that every construction material vehicle entering and leaving the site possesses proper PUC certificates and is covered with tarpaulin to minimize air pollution.
We prioritize the safety of our workforce by providing personal protective equipment (PPE), conducting medical check-ups, and offering regular safety training and mock drills to our employees..
For long-term sustainability and reduced operational impact, the focus is on energy and water conservation. Passive design strategies are key, including optimized building orientation, shading devices, and natural ventilation to reduce dependence on mechanical cooling. This is complemented by high-performance glazing and insulation for improved thermal comfort and lower energy demand. Energy efficiency is further ensured through efficient appliances, sensors, and a commitment to green energy adoption and renewable systems.
Water management is robust, integrating rainwater harvesting and onsite wastewater treatment systems to significantly reduce freshwater demand. The 3R principles i.e. Reduce, Reuse & Recycle are applied rigorously to water use during operation. Finally, more than 25% of each project is dedicated to landscaped area to enhance urban biodiversity, an effort exemplified by Raheja Exotica's CII–IGBC Green Landscape Platinum Certificate. Continuous optimization is ensured through installed Water and Energy monitoring systems that track consumption and identify inefficiencies.
In the luxury housing segment, who are the emerging new buyers driving demand today, and what is the single most significant design and amenity trend your company is prioritizing to meet their evolving expectations??
The luxury housing segment in India is experiencing a structural boom dominated by new, high-earning buyer demographics whose expectations have fundamentally shifted beyond mere lavishness. The single most significant design and amenity trend is the shifting focus towards luxury housing. Demand is no longer driven solely by traditional business families but also by Young Founders and CXOs, who are globally exposed, hard pressed for time, and view a luxury home as a high-value, efficient asset that supports a demanding lifestyle. Simultaneously, Non-Resident Indians (NRIs), buoyed by India's robust economy, are aggressively investing, demanding strictly international standards of security and professional management. The third significant shift is the wave of Aspirational Upgraders entering the premium-luxury segment (₹2 crore to ₹5 crore), seeking larger formats in integrated, infrastructure-led communities.
To meet these evolving expectations, we are prioritizing this shift towards Integrated Wellness and Branded Residences. This involves incorporating features that directly impact health, such as enhanced indoor air quality systems, dedicated fitness spaces, and an emphasis on biophilic design through expansive private decks and green spaces; luxury is now defined by the quality of the life it supports. Furthermore, our focus on Branded offices, such as through the WTC affiliation, provides instant trust and validation regarding construction quality and ensures professionally managed services (concierge, maintenance). This dual focus on wellness and professional management allows us to deliver not just a house or office, but a future-proof, exclusive lifestyle ecosystem—which is the new, non-negotiable definition of luxury for this discerning cohort.
Your projects in Worli, Versova Island, and Vashi NX suggest a strategy of decentralizing premium living from traditional South Mumbai corridors. What infrastructural developments (like MTHL, NMIA) are critical to making this decentralization strategy successful and sustainable?
The strategic positioning of our premium projects in Worli, Madh Island (Versova Island), and Vashi NX (Navi Mumbai) is fundamentally an infrastructure play aimed at decentralizing premium living from the saturated South Mumbai. For this strategy to be successful and sustainable, superior connectivity that drastically reduces commute times is paramount. The two most critical developments are the Mumbai Trans Harbour Link (MTHL) and the Navi Mumbai International Airport (NMIA). MTHL, or the Atal Setu, is the linchpin, as it reduces the travel time between South Mumbai (Sewri) and Navi Mumbai (Nhava Sheva/Ulwe) from nearly two hours to just 20 minutes. This immediately elevates Navi Mumbai as a viable, connected alternative, unlocking the potential of large-format developments and allowing premium living there to benefit from proximity to South Mumbai's financial districts. Similarly, NMIA will transform Navi Mumbai into an Aerotropolis and a global business hub, creating massive, self-sustaining job opportunities that will drive significant demand for high-quality housing in and around our projects, thus cementing the region's status as a prime residential destination independent of old Mumbai. Additionally, projects like the Mumbai Coastal Road Project are crucial for our Worli and Versova Island properties, providing seamless, high-speed road access to business centres like Bandra-Kurla Complex (BKC) and South Mumbai, transforming island-resort-like living into a well-connected urban reality. This infrastructure network doesn't just reduce distances; it redefines the entire Mumbai Metropolitan Region as a multi-centered, networked metropolis, making decentralized luxury living a sustainable long-term trend.
You've emphasized "Design Excellence and Scalability." Could you elaborate on how you ensure the architectural identity and quality remains consistent and enduring across both a luxury high-rise and a vast integrated township like Raheja District?
The fundamental consistency lies in the brand's definition of 'Luxury + Design Innovation', which is adapted to the context and scale of each development. For the Worli high-rise, design excellence manifests in vertical living—cutting-edge architecture, premium materials, and exclusive amenities like among the highest recreational decks in Asia, delivering fitness, leisure, and social spaces framed by the city's skyline. This focuses the luxury experience upwards, maximizing density while retaining exclusivity.
In contrast, the scalability for a 60+ acre integrated township like Raheja District in Navi Mumbai is demonstrated through creating a holistic lifestyle ecosystem. Here, design excellence is about master-planning a self-sustained environment with over five acres of amenities, including wellness zones, greens, water bodies, recreation, and community spaces. The architectural quality is maintained through the consistent application of high-quality construction materials, modern, future-ready design, and thoughtful planning across all residential, commercial (like the World Trade Center Navi Mumbai), and retail components. The connecting thread is the creation of meaningful, elevated living spaces, regardless of whether it's achieved through a towering, exclusive structure or an expansive, integrated community.
Looking ahead to 2035, what is Ashish Raheja's single most ambitious goal for Raheja Universal, and what part of the MMR's development trajectory will the company be most focused on shaping?
I aspire to redefine the benchmark for integrated, future-ready luxury developments across the entire Mumbai Metropolitan Region (MMR), ensuring that the brand is synonymous with Globally Aligned Urban Ecosystems rather than just standalone buildings. This means moving beyond the traditional core to create new, self-sustained platforms that elevate the regional economy and lifestyle.
Raheja Universal will be most focused on shaping MMR's development trajectory by actively driving the decentralization of premium residential and commercial activity away from the highly congested core of South and Central Mumbai.
This focus is executed through two primary strategies, one – by catalyzing multi-nodal growth. The company strategically invests in high-potential micro-markets—such as the emerging hubs like Navi Mumbai, along the new infrastructure corridors to build large-format, mixed-use developments. These projects, like the 60+ acre Raheja District, are conceived as complete ecosystems. By integrating premium residences, world-class commercial infrastructure like the World Trade Center, and extensive amenities, they create "walk-to-work" and "walk-to-live" environments. This helps distribute job creation and residential demand across the MMR, easing pressure on older business districts and improving regional livability by drastically reducing commute times.
Secondly, we aim to elevate global standards for luxury. The brand aims to ensure that its luxury offerings, whether a high-rise in Worli or a resort-like enclave Raheja Exotica in Versova Island, are built on the pillars of Design Innovation, Connectivity, and Long-Term Value. This commitment to global quality standards—from construction and material clarity to the adoption of transparent, RERA-compliant practices like Title Insurance—is intended to raise the bar for the entire real estate sector in MMR, fostering confidence and attracting both domestic and international investment into these emerging new city nodes.
