Ray & Ray

What Ray & Ray does

Ray & Ray is a chartered accountancy firm headquartered in Kolkata, India, with continuous operations since 1922. The firm maintains a pan-India presence through five metropolitan branch offices in Kolkata, New Delhi, Mumbai, Bengaluru, and Chennai, and operates as a partnership serving 200+ active clients across India's banking, large corporate, not-for-profit, hospitality, healthcare, and industrial sectors. Several client relationships span over seven decades, indicating deep institutional tenure.

The firm's service portfolio covers the full spectrum of professional services typically offered by an Indian chartered accountancy practice: statutory and internal auditing, direct and indirect taxation, advisory, risk management, transfer pricing, forensic audit, due diligence, business valuation, corporate counselling, corporate secretarial services, and professional training. There is no indication of proprietary technology, software platforms, or AI/ML tooling underlying these services.

The business operates on a traditional partner-led professional services model: revenue is generated through fee-based engagements (audit mandates, tax filings, advisory retainers, valuation and due diligence projects) with the firm's partners and qualified chartered accountants serving as the primary delivery units. No revenue figures, headcount trends, funding history, or pricing model disclosures are available in the source data, which constrains financial analysis of the practice.

Name

Ray & Ray

Legal name

Ray & Ray

Website

https://raynray.net

Company type

Private

Founded year

1922

Operating status

Operating

Headcount range

11–50 employees

Short description

Ray & Ray is a Kolkata-headquartered Indian chartered accountancy firm founded in 1922, operating across five metro cities and serving 200+ clients in banking, corporate, NGO, and industrial sectors with audit, tax, advisory, and related professional services.

Ownership category

akta.pro rank

Product category

Accounting & Auditing Services

NAICS

Professional, Scientific, and Technical Services (54)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro industry

PRIMARYFSAAADAD

Family Office Administration & Operations (Accounting, Reporting, Payroll)

Financial & Insurance/Asset & Wealth Management/Family Offices (Single- & Multi-Family)

Keywords

• Audit assurance services
• Tax planning advisory
• Chartered accountancy firm
• Transfer pricing services
• Forensic investigation services

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Professional Services Fees: Ray & Ray generates revenue through providing professional services including auditing & assurance, taxation, management consulting, and advisory services to corporate clients, financial institutions, and not-for-profit organizations. Revenue is derived from project-based engagements and ongoing retainer arrangements for long-term client relationships spanning multiple decades.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Ray & Ray is a Chartered Accountancy firm providing audit & assurance, tax (direct and indirect), accounting and internal financial controls, transfer pricing, forensic investigation, due diligence, valuation, corporate counselling, corporate secretarial, and training services to banks, financial institutions, large corporates, NGOs, trusts, and charitable institutions. Services are delivered by partner-led teams across offices in Kolkata, New Delhi, Mumbai, Bengaluru, and Chennai, with capability to serve clients in India and abroad.

Product overview

Ray & Ray is a Chartered Accountancy firm providing a unified portfolio of professional services. The firm offers audit and assurance services, tax planning and compliance (direct and indirect), risk management, forensic investigation, due diligence, business valuations, corporate counselling, corporate secretarial services, and training and education. The services are delivered by a team of partners and professionals across offices in Kolkata (head office), New Delhi, Mumbai, Bengaluru, and Chennai, serving over 200 clients including banks, financial institutions, large corporates, NGOs, trusts, and charitable institutions.

Differentiator

Problem solved

Functional benefit

Products and services

• Auditing & Assurance Services
• Accounting & Internal Financial Control Systems
• Risk Matrix & Assurance
• Tax & Tax Planning (Direct & Indirect)
• International / Domestic Transfer Pricing
• Investigation, Forensic & Mystery Audit
• Due Diligence Services
• Valuation Services
• Corporate Counselling & Consultancy

Quantifiable outcome

• Serving over 200 clients including major banks, financial institutions, large corporates, NGOs, and not-for-profit organizations
• +1 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves2 records

Expansion highlights2 records

Direct peers

• Singhi & Co: Long-established Indian chartered accountancy firm founded in 1940, providing audit, tax, advisory and corporate consulting services. Comparable to Ray & Ray on heritage, full-service offering and enterprise client mix.
• Lodha & Co LLP: Kolkata-headquartered chartered accountancy firm founded in 1941, offering audit, tax, advisory and corporate services across India. Closely comparable to Ray & Ray given similar vintage, East India roots, multi-disciplinary practice and blue-chip corporate/banking client roster.
• Khimji Kunverji & Co LLP: Mumbai-based chartered accountancy firm established in 1938, with audit, tax and advisory practices. Comparable to Ray & Ray as a heritage Indian CA firm of similar vintage and service breadth.

Broad incumbents

• Deloitte Touche Tohmatsu India LLP: Big 4 member firm in India delivering audit, tax, risk and financial advisory services. Overlaps directly with Ray & Ray's service lines but at substantially larger scale and broader sector coverage.
• Grant Thornton India LLP: Indian member of Grant Thornton International, providing audit, tax and advisory services. Comparable to Ray & Ray as a multi-disciplinary firm targeting corporates and financial institutions in India.
• BDO India LLP: Indian member of the BDO global network, offering audit, tax, advisory and outsourcing services. Most comparable mid-tier international firm to Ray & Ray in terms of service breadth and enterprise client focus.
• S.R. Batliboi & Co. LLP (EY India): The EY member firm in India, one of the largest Indian CA firms by headcount and revenue. Comparable as a broad incumbent offering the same audit, tax and advisory services as Ray & Ray but at much larger scale.
• KPMG India: Big 4 member firm offering assurance, tax, regulatory and advisory services in India. Comparable as a broad incumbent operating in the same audit-tax-advisory space as Ray & Ray.
• PricewaterhouseCoopers India: Big 4 member firm in India providing assurance, tax and advisory services. Comparable to Ray & Ray across the same service spectrum but serving a larger and more globalised client base.

Emerging players

• RSM Astute Consulting Group India LLP: Indian member of the RSM International network, providing audit, tax and consulting services. Comparable mid-tier alternative to Ray & Ray, with similar cross-disciplinary service positioning.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Ray-Ray-Chartered-Accountants-100066725839014

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ray & Ray