RAYMONDREL
Raymond Realty share price & financials
- Price
- ₹683.3
- Market cap
- ₹3.9k Cr
- Sector
- Realty
- Calls analysed
- 5
Raymond Realty Limited Q1 FY27
What went well
- Booking value for Q1 FY27 was INR 700 crores, representing a 129% year-on-year growth compared to INR 306 crores in Q1 FY26.
- Customer collections reached INR 550 crores for Q1, a 47% year-on-year growth compared to Q1 FY26.
- Total income (revenue booking) stood at INR 536 crores in Q1 FY27, a 37% year-on-year growth compared to INR 392 crores in Q1 FY26.
What to watch
- Initial profitability in Q1 FY27 reflects upfront marketing and construction setup costs for projects launched in Q4 FY26, with margins expected to normalize in subsequent quarters.
- Cost pressures due to global conditions are noted, though management views them as temporary and manageable with existing buffers.
What Raymond Realty Limited does
Raymond Realty Limited develops residential and retail real estate, primarily through wholly-owned land parcels in Thane and asset-light Joint Development Agreements (JDAs) with landowners across key Mumbai micro-markets — Bandra, BKC, Wadala, Sion, Mahim and Kandivali. It builds and sells apartments across three brand tiers — Aspirational (Ten X), Premium (The Address by GS) and Luxury (Invictus by GS) — plus a high-street retail format (Park Avenue), earning through unit bookings and collections as projects are constructed and delivered. The company was demerged from Raymond Limited's textile/lifestyle business, effective April 1, 2025, and is headquartered in Thane, Maharashtra.
Segments
- Residential Real Estate Development
- Retail Real Estate
- Own land bank (Thane)
- ~100 acres
- JDA (Joint Development Agreement) projects
- 7 projects across Mumbai — Bandra, BKC, Wadala, Sion, Mahim (1 & 2), Kandivali
- Geographic footprint
- Thane (owned land) plus JDA projects across Mumbai Metropolitan Region micro-markets
- RERA carpet area under current development (Thane land)
- ~5.8 mn sq.ft.
- Potential RERA carpet area from future Thane development
- ~5.6 mn sq.ft.
- Product/brand tiers
- 3 tiers — Aspirational, Premium, Luxury
Guidance record · Q1 FY27
what the last two calls moved 10 tracked 2 delivered 1 missed 7 open- Booking Value Growth delivered said Q1 FY26 Promised: 20% year-on-year growth for booking values Q1 FY27: Past target for FY26, not discussed.
- EBITDA Margin (Blended) revised up said Q4 FY26 Promised: assume between 16% and 18% as the EBITDA margin on a blended basis for FY27 Q1 FY27: Guidance for FY27 revised upwards to a range of 17% to 19%, from the previous 16% to 18%.
- Return on Capital Employed (ROCE) on track said Q1 FY26 Promised: continue to deliver more than 20% ROCE Q1 FY27: Reiterated guidance for FY27 ROCE to be 20% or upward, bringing the previously ghosted promise back on track.
All 10 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 38.7%, net profit down 18.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 226 | 92 | 117 | 380 | 696 +208% | 758 +724% | 1,157 +889% | 527 +39% |
| EBITDA | 15 | 14 | 14 | 30 | 91 +507% | 91 +550% | 234 +1571% | 61 +103% |
| Net profit | 5 | 3 | 2 | 16 | 60 +1100% | 67 +2133% | 161 +7950% | 13 −19% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −8.3% 1Y
1Y: ₹636.65 on 10 Sept 2025 → ₹583.55. High ₹722.75 (13 Jul 2026), low ₹357.35 (16 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −12.0%
- 10 Aug
- Q4 FY26
- +20.0%
- 6 May
- Q3 FY26
- +1.0%
- 27 Jan
- Q2 FY26
- −0.4%
- 29 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 429.4% a year over 1 year, FY25 to FY26. Operating margin widened to 14.9%.
| Year ending | FY25 | FY26 |
|---|---|---|
| Revenue | ₹565 Cr | ₹3.0k Cr |
| Operating profit | ₹61 Cr | ₹446 Cr |
| Operating margin | 10.8% | 14.9% |
| Interest | ₹46 Cr | ₹98 Cr |
| Depreciation | ₹0 Cr | ₹22 Cr |
| Net profit | ₹17 Cr | ₹304 Cr |
| Net margin | 3.0% | 10.2% |
| Cash from operations | ₹-237 Cr | ₹-910 Cr |
| Free cash flow | ₹-238 Cr | ₹-990 Cr |
| ROCE | 16.0% | 30.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Equity capital | ₹0 Cr | ₹67 Cr | ₹67 Cr |
| Reserves | ₹-1 Cr | ₹1.3k Cr | ₹1.5k Cr |
| Borrowings | ₹231 Cr | ₹564 Cr | ₹1.0k Cr |
| Other liabilities | ₹531 Cr | ₹2.7k Cr | ₹4.5k Cr |
| Total liabilities | ₹762 Cr | ₹4.6k Cr | ₹7.1k Cr |
| Fixed assets | ₹1 Cr | ₹181 Cr | ₹89 Cr |
| Capital work in progress | ₹1 Cr | ₹1 Cr | ₹5 Cr |
| Investments | ₹4 Cr | ₹382 Cr | ₹2 Cr |
| Other assets | ₹756 Cr | ₹4.0k Cr | ₹7.0k Cr |
| Total assets | ₹762 Cr | ₹4.6k Cr | ₹7.1k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +11.07 pp while FIIs trimmed −9.67 pp. The shareholder count shrank 20% to 2,09,800.
- Promoters
- 50.9%
- FIIs
- 5.8%
- DIIs
- 2.9%
- Public
- 40.3%
- Others
- 0.0%
Since Jun 2025
- Public +11.07 pp
- FIIs −9.67 pp
- DIIs −3.45 pp
How it drifted, 5 quarters
Over this window the public went from 29.2% to 40.3% — +11.1 pp.
Ownership split by quarter, oldest first. Jun '25: Promoters 48.9%, FIIs 15.5%, DIIs 6.3%, Public 29.2%, Others 0.0%.Sep '25: Promoters 48.9%, FIIs 11.2%, DIIs 4.5%, Public 35.4%, Others 0.0%.Dec '25: Promoters 49.0%, FIIs 8.5%, DIIs 4.4%, Public 38.0%, Others 0.0%.Mar '26: Promoters 50.7%, FIIs 7.6%, DIIs 3.9%, Public 37.7%, Others 0.0%.Jun '26: Promoters 50.9%, FIIs 5.8%, DIIs 2.9%, Public 40.3%, Others 0.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Raymond Limited +0.22 pp 2.06% held
The same filing shows 0 holders trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Raymond Realty Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| J K Investors (Bombay) Limited | 29.83% | unchanged |
| J K Investo Trade (India) Limited | 12.43% | unchanged |
| J K Helene Curtis Limited | 5.40% | unchanged |
| Raymond Limited | 2.06% | +0.22 pp |
| Ebisu Global Opportunities Fund Limited FPI fund | 1.42% | unchanged |
| Unico Global Opportunities Fund Limited FPI fund | 1.09% | unchanged |
| Smt Sunitidevi Singhania Hospital Trust | 1.04% | unchanged |
| Negen Undiscovered Value Fund AIF | 1.03% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 1.00% | unchanged |
| Polar Investments Limited | 0.15% | unchanged |
| Niharika Gautam Singhania | 0.01% | unchanged |
| J K Sports Foundation | 0.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (5)
Read the Q1 FY27 call →Learn to analyse Raymond Realty Limited
Guides on how to read this kind of business and the numbers that matter.