After reporting a 4.75 percent increase in consolidated net profit to Rs 65.20 crore for the second quarter ended September 2018, Raymond on Friday said the company expects growth momentum to continue for the second half of the fiscal and added that diversified group is planning to monetise the land assets in Thane district.

In an interview to CNBC-TV18, Sanjay Bahl, group chief financial officer, said all business segments grew well in the quarter gone by. The branded textiles grew by 15 percent, the garments business grew by 19 percent, engineering business grew in high double-digits and auto components business grew by 21 percent in the quarter.

According to Bahl, Raymond was able to maintain gross margins despite cost pressures, because of price hikes and cost efficiencies, "Improvement in EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins were led by rupee depreciation, operating efficiencies and product mix."

Talking on other business, Bahl said the first objective is to integrate the two FMCG businesses into one by Q3 end, "The momentum is strong in our FMCG business. We are putting in the right steps in technology, processes, people and these will auger well for us to build a value creating business in future."

On real estate businesses, he said said, "One of the steps is to sell smaller parcels of land and the other aspect is to develop a 20-acre parcel of land for residential development, but we are awaiting a key approval for that."