Raheja established his own real estate firm in 1996 when the business was divided into three groups between Gopal Raheja, chairman of K Raheja Constructions, Suresh Raheja, chairman of K Raheja Universal and Chandru Raheja, the chairman of K Raheja Corp, and Shoppers Stop Ltd. In the book India's New Capitalists: Caste, Business, and Industry in a Modern Nation, Harish Damodaran stated that Raheja-owned K Raheja Corp has emerged as the biggest business of the various entities which were formed after the split.