Raymond Realty Q1 results: Profit up 121.8%; revenue jumps 188.7%

Raymond Realty reported a 121.8% YoY rise in Q1 FY26 net profit to Rs 16.5 crore, its first quarterly result post demerger; revenue surged, but bookings dipped on inventory

Mumbai-based Raymond Realty’s consolidated net profit for the first quarter of 2025-26 (Q1FY26) surged by 121.8 per cent year-on-year (Y-o-Y) to ₹16.5 crore. In Q1FY25, the company’s profit stood at ₹7.4 crore.

 

In its first quarterly earnings since demerger from Raymond Ltd on May 1, the company’s consolidated revenue for the quarter stood at ₹374.4 crore, up 188.7 per cent Y-o-Y.

 

However, on a like-to-like basis (post-demerger), the revenue dropped by 23 per cent Y-o-Y. Meanwhile, its earnings before interest, taxes, depreciation, and amortisation (Ebitda) stood at ₹41 crore, down by 39 per cent Y-o-Y.

 

Harmohan Sahni, managing director (MD), Raymond Realty, told Business Standard: “The main reason for Q1 (like-to-like performance) was that we had done a bumper Q3 and Q4 last year, and we were very low on inventory in Q1. The demand was very good, but we didn't have enough inventory to sell in Q1. We had to rush to get approvals and be ready for fresh launches.”

 

 

Raymond Realty reported a booking value of ₹306 crore in Q1FY26 against the bookings of ₹611 crore in Q1FY25. “For us, bookings have been so good in the last three-four quarters that we were left with very little inventory in Q1. So, demand is pretty good, bookings are good, but we didn't have enough inventory to match the demand. We've had higher realisations as compared to last year. Prices are almost up by 5 per cent compared to last year,” Sahni added.

 

Raymond Realty’s collections stood at ₹374 crore in Q1FY26 compared to collections of ₹483 crore in Q1FY25.

 

Additionally, the total potential revenue from the company’s current real estate business is close to ₹40,000 crore, which includes a 100-acre Thane land parcel with a revenue potential of ₹25,000 crore.

 

The company has been focusing on the joint development agreement (JDA) model of real estate business and has six JDA projects with a revenue potential of ₹14,000 crore.

 

Raymond Realty is a net cash-surplus company with a cash of ₹233 crore. Its shares on the BSE closed at ₹725.6 apiece on Tuesday.