Raymond Realty Post Q1 as Net Profit Rises, Launch Pipeline Supports Sentiment
By Shishta Dutta | Updated at: Aug 6, 2025 01:06 PM IST
Mumbai, August 5, 2025 – Raymond Realty Limited (NSE: RAYMONDREL, BSE: 544420) announced its unaudited results for the quarter ended June 30, 2025 (Q1FY26), marking its first quarterly report since the demerger from Raymond Ltd and separate listing on July 1, 2025. While the results were mixed, the stock from its 52-week low hit in the previous session.
Q1FY26 Consolidated Financial Performance
Raymond Realty reported a sharp decline in Q1FY26 revenue as project completions tapered off, with total income falling nearly 50% sequentially.
EBITDA dropped significantly, pulling the margin down to 10.5% from 22.1% in the previous quarter.
However, net profit rose sharply on a low base, driven by higher other income and lower expenses. On a standalone basis, the company posted a PAT of ₹26.93 crore, with revenue from operations at ₹306.91 crore.
Segment Performance and Strategic Commentary
Raymond Realty attributed the sharp QoQ decline to sales moderation in mature projects with limited unsold inventory, as well as the transition phase following its demerger. EBITDA margins compressed to 10.5% due to lower absorption and launch expenses.
Booking & Collection Trends
Raymond Realty saw lower booking and collection activity in Q1FY26 compared to the same period last year, reflecting the natural tapering of sales in mature projects. The slowdown was expected as ongoing projects near completion, with new launches yet to contribute meaningfully to quarterly inflows.
Market Snapshot
As of market close on August 5, 2025, the stock ended at ₹728.00, up 4.79% from the previous close. It rebounded after touching a 52-week low of ₹666.00 in the prior session, with intraday movement between ₹686.70 and ₹729.00. VWAP stood at ₹717.82, and turnover was ₹28.21 crore.
Development Pipeline
| Project/Asset | Area / Status | Revenue Potential |
|---|---|---|
| Thane Land Parcel (100 acres) | 40 acres under development | ₹9,000 Cr (₹7,850 Cr already sold) |
| 60 acres for future launches | ₹16,000 Cr (est.) | |
| JDA Projects (6 total) | 1 launched, 5 to launch soon | ₹14,000 Cr |
| Total GDV Portfolio | ~₹40,000 Cr |
Raymond Realty continues to operate as a net-debt free entity with a net cash surplus of ₹233 Cr as of June 30, 2025.
Management Commentary
“Our performance this quarter was in line with our expectations, reflecting sales moderation owing to low inventory levels in mature projects; a steady progress in launching new ones in H2. We remain dedicated to delivering exceptional value to our shareholders.” Harmohan Sahni, Managing Director
Business Outlook
The rise in net profit and confirmation of a strong launch pipeline helped offset concerns over revenue decline. The market appears to be pricing in stability post-demerger. Execution on upcoming projects will be key to sustaining investor interest in the near term.
Company Background
Raymond Realty Limited is a Mumbai-headquartered, pure‑play real estate developer carved out of the century-old Raymond Group. It focuses on residential and commercial projects in the Mumbai Metropolitan Region, anchored by a 100‑acre land bank in Thane. The firm follows an asset‑light model via Joint Development Agreements and manages a gross development value pipeline of approximately ₹40,000 crore.
REF: https://nsearchives.nseindia.com/corporate/RRL_05082025164351_RRLSEintimationsigned.pdf
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