Raymond Realty shares crashed more than 12% in intraday trade on Monday following the company's Q1 FY27 results announcement. The stock opened sharply lower at ₹615 and touched an intraday low of ₹603.55 on the National Stock Exchange (NSE), as reported by Business Standard. As of 2:40 PM, the stock was trading near the day's low at ₹606, with more than 1.5 million shares changing hands during the session. The sharp decline came after the realty firm reported a net profit of ₹13.43 crore for Q1 FY27, down 19% year-on-year from ₹16.50 crore in the corresponding quarter last year. The profit decline was attributed to upfront project, marketing and interest costs that impacted initial profitability, as reported by The Economic Times.
Raymond Realty Ltd reported mixed Q1 FY27 results with net profit declining 19% year-on-year to ₹13.43 crore from ₹16.50 crore in the corresponding quarter last year, as reported by The Economic Times. However, the realty firm demonstrated strong revenue growth with consolidated revenue from operations rising 27% YoY to ₹535.71 crore from ₹391.86 crore in Q1 FY6. The company attributed the profit decline to upfront marketing and construction setup costs that impacted initial profitability. EBITDA reached ₹70 crore with a margin of 13% in Q1 FY27, compared to 11% margin in Q1 FY6, indicating enhanced operational efficiency. The company's operational performance remained robust with standalone revenue from operations at ₹2.39 billion compared to ₹3.13 billion in the previous year. The surge in EBITDA from ₹236 million to ₹70 crore outpaced revenue growth, indicating operational leverage and an optimized product mix.
The company reported exceptional booking momentum with booking value reaching ₹700 crore in Q1 FY27, registering 129% year-on-year growth from ₹306 crore in Q1 FY6, according to The Economic Times. Customer collections increased 47% year-on-year to ₹550 crore in Q1 FY27 from ₹374 crore in the corresponding quarter last year. These strong cash flows provide the firm with solid liquidity to fund ongoing construction without relying heavily on fresh debt. The growth was driven by strong sales across the company's premium brands including Ten X, The Address by GS, and Invictus by GS. In the April-June quarter, only 36% of the booking value came from the Thane development, while the rest came from its other projects through JDAs, demonstrating the company's successful diversification strategy. The company's total portfolio now has a gross development value (GDV) of around ₹52,000 crore, comprising a mix of owned land and JDA projects across the Mumbai Metropolitan Region (MMR).
The 100-acre Thane land parcel remains a key part of the company's portfolio, with a revenue potential of around ₹25,000 crore, as reported by The Economic Times. Around 65 acres are currently under development, representing approximately 6.7 million square feet of Real Estate Regulatory Authority (RERA) carpet area and a revenue potential of around ₹16,500 crore. The company has completed around ₹9,400 crore worth of sales from the Thane land parcel, while collections have reached around ₹7,460 crore to date. Raymond Realty has significantly expanded its redevelopment portfolio, recently signing two major projects in Mumbai's Parel and Kandivali localities with combined GDV of ₹11,500 crore. The company will launch two redevelopment projects in the financial year 2027, both in the Mahim area, with a combined gross development value of ₹4,500 crore. The developer follows an asset-light model and develops projects through joint development agreements (JDA) with respective partners, developing residential projects under the brands TenX (aspirational), The Address by GS (premium), and Invictus by GS (super premium).
Raymond Realty's latest results show revenue from operations at ₹535.71 crore, up 27% year-on-year, with EBITDA reaching ₹70 crore, representing a 70% increase from the previous year. The EBITDA margin improved to 13% from 11% in Q1FY26, demonstrating enhanced operational efficiency. However, total expenses climbed 40.53% year-on-year to ₹520.54 crore, driven by a 62.27% increase in the cost of land, property development, construction and other costs to ₹413.86 crore. The company's profit-before-tax (PBT) margin for the quarter was 2.8%, compared with 5.4% in Q1FY26, reflecting the impact of initial project setup costs. Managing Director Harmohan Sahni noted that the company has entered FY27 with strong operational momentum and remains on track to meet its EBITDA margin guidance of 17-19% for FY27. The company emphasized that margins naturally fluctuate according to project phase and launch timing, with initial profitability reflecting upfront marketing and construction setup costs. Raymond Realty has guided for around 20% growth in pre-sales and revenue in FY27, while targeting an EBITDA margin of 17-19% and return on capital employed (ROCE) of around 20% during the fiscal year. Sahni indicated that the company may add two or maybe more projects outside Thane this year, as part of its expansion strategy beyond the Thane land parcel.
