Billionaire Gautam Singhania, who is the chairman and managing director of textiles-to-real estate conglomerate Raymond Ltd, on Monday announced separation from wife Nawaz Modi. He said, “Nawaz and I will pursue different paths from here on”.
Singhania married Nawaz, daughter of solicitor Nadar Modi, in 1999 when she was 29, after eight years of courtship.
“This Diwali is not going to be the same as many in the past,” 58-year-old Singhania said in a post on X on Monday. He added that 32 years of being together as a couple, growing as parents and always being a source of strength to each other, “we traversed with commitment, resolve, faith as along came the two most beautiful additions of our lives”.
He said there has been a lot of unsubstantiated rumour mongering, and gossip surrounding our lives fanned by “not so well wishers”.
“I am parting ways with her while we will continue to do what is the best for our two precious diamonds Niharika and Nisa,” Singhania said, without giving details about the separation and custody of their two children.
“Please respect this personal decision and kindly give us the space to settle all aspects of the relationship. Seeking your best wishes for the entire family during these times,” Singhania said.
Just before announcing the separation, Singhania also shared a post about Raymond Realty saying the real estate arm “continues to expand its presence across the Mumbai Metropolitan Region post the amazing success we have seen in the last couple of years”.
He said the company has secured three new real estate projects in the region, with a combined revenue potential of over Rs 5,000 crore ($678 million).
“Our realty business has seen a strong growth trajectory over the last couple of projects and we are confident of delivering on the highest level of quality and finesse associated with Raymond Group for the upcoming projects,” Singhania said.
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