MUMBAI: Raymond Realty nearly doubled its property bookings in the September quarter, with pre-sales rising 98 per cent year on year to Rs 902 crore, even as consolidated income grew 7 per cent to Rs 757 crore.
The Mumbai-based developer reported EBITDA of Rs 115 crore, up 14 per cent from Rs 101 crore a year earlier, with an EBITDA margin of 15 per cent. Profit before tax fell 6 per cent to Rs 66 crore, while consolidated net profit stood at Rs 53.06 crore.
For the first half of FY27, consolidated revenue from operations reached Rs 1,275.19 crore, while total income rose to Rs 1,293.20 crore from Rs 1,097.65 crore in the corresponding period last year. Consolidated profit for the half year was Rs 66.49 crore.
Sales momentum continued across its portfolio. H1 FY27 pre-sales increased 111 per cent year on year to Rs 1,602 crore, while customer collections rose 57 per cent to Rs 1,233 crore. Mumbai joint development agreement (JDA) projects contributed 57 per cent of quarterly bookings, with the company’s Thane land parcel accounting for the remaining 43 per cent.
Raymond Realty’s gross development value (GDV) portfolio has reached around Rs 52,000 crore, comprising approximately Rs 25,000 crore in potential revenue from its 100-acre Thane land parcel and Rs 27,000 crore across eight JDA projects.
Around 65 acres of the Thane parcel are under active development, representing about 6.7 million sq ft of RERA carpet area and estimated revenue potential of Rs 16,500 crore. The project has recorded sales of around Rs 9,770 crore and collections of Rs 7,977 crore.
Four JDA projects across Bandra, Bandra-Kurla Complex, Wadala and Sion are active, with a combined GDV of around Rs 11,500 crore. They have generated sales of approximately Rs 3,430 crore and collections of Rs 857 crore.
The company plans to launch two JDA projects in Mahim over the next two quarters, with a combined GDV of Rs 4,100 crore.
During the September quarter, Raymond Realty also secured the occupancy certificate for Tower B of Address by GS Season 1 in Thane. The 270-unit project was handed over 18 months ahead of its proposed RERA completion date of March 2028, the company said.
As of 30 September 2026, Raymond Realty’s gross debt stood at Rs 1,220 crore and net debt at Rs 912 crore, with a liquidity buffer of Rs 308 crore. Its consolidated debt-to-equity ratio was 0.8 times, while its cost of debt remained around 9.6 per cent.
Net cash used in operating activities during H1 FY27 was Rs 147.02 crore, compared with Rs 319.08 crore in the year-ago period. CARE Ratings reaffirmed the company’s rating at CARE A+ with a stable outlook.
Raymond Realty has retained its FY27 guidance, targeting around 20 per cent growth in pre-sales, return on capital employed of approximately 20 per cent, an EBITDA margin of 17 to 19 per cent and a profit-after-tax margin of 9 to 10 per cent.
