Raymond Realty has delivered exceptional returns with a 56% jump over the last six months, significantly outperforming the Sensex which declined 5% during the same period. According to reports from Mint, the stock is currently trading at ₹678.10 on the BSE after ending 1.31% higher on Wednesday, October 14. The realty stock has also gained 30% year-to-date, while the Sensex has lost nearly 15% during the same period. Anand Rathi Share and Stock Brokers maintains a 'buy' rating with a target price of ₹879, implying an almost 30% upside from current levels.
The company announced robust financial results for Q2FY27, with pre-sales rising 98% year-on-year to ₹902 crore and collections increasing 67% YoY to ₹682 crore in the July-September quarter. However, latest Q2 results show a net income decline of 81% YoY to ₹60.04 crore compared to ₹10.14 crore in Q2FY26. As reported by Mint, for the first half of FY27, pre-sales jumped 111% YoY to ₹1,602 crore and collections climbed 57% YoY to ₹1,233 crore. The company noted that growth was driven entirely by sustained sales velocity and steady price realization within the existing 'Address by GS' portfolio, with no new project launches during the September quarter.
Raymond Realty is accelerating its growth trajectory with a strong pipeline of MMR (Mumbai Metropolitan Region) launches representing a cumulative gross development value of over ₹4,100 crore. According to the company, backed by liquidity of ₹306 crore, its net debt stood at ₹914 crore as of September 30, 2026, maintaining a net debt-to-equity ratio well below its board-approved ceiling of 1 time. The company is targeting nearly 20% growth in pre-sales for FY27, along with ROCE of nearly 20%, EBITDA margin of 17-19%, and PAT margin of 9-10%.
Raymond Realty is transitioning into an asset-light MMR platform with nearly ₹52,000 crore of development potential across nearly ₹25,000 crore of owned land in Thane and nearly ₹27,000 crore across eight JDAs. As reported by Mint, the company's JDA contribution to bookings rose from 22% in FY25 to 54% in FY26 and 64% in Q1FY27, crossing the company's 50% target a year early. Anand Rathi forecasts bookings and collections to clock nearly 24% and 46% CAGR, respectively, over FY26-29E, with annual cash generation of nearly ₹600-750 crore from the combined portfolio.
