Shares of Raymond Realty gained more than 3% intraday on Monday after the company reported a 98% year-on-year jump in pre-sales to Rs 902 crore for the second quarter of fiscal 2027, despite not launching any new projects during the quarter. The growth was driven by sustained sales momentum and steady price realisation across its existing “Address by GS” portfolio.
At around 1 p.m., the stock was trading at Rs 672.25 apiece on the NSE, gaining around 3.7% from its previous close at Rs 648.45. Meanwhile, the benchmark, Nifty 50, was trading around the 22,462.15 level, gaining marginally 0.18% in trade today.
H1 Pre-Sales Rise 111%
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For the first half of fiscal 2027, Raymond Realty's pre-sales increased 111% to Rs 1,602 crore from Rs 760 crore in the corresponding period last year. Collections rose 57% to Rs 1,233 crore from Rs 783 crore.
Collections also rose by 67% year-on-year to Rs 682 crore from Rs 409 crore for the quarter ended on Sept. 30.
“We nearly doubled pre-sales this quarter without any new launches, supported by resilient sustenance sales and continued homebuyer confidence in our projects,” said Harmohan Sahni, Managing Director and CEO, Raymond Realty.
He also commented that the company had received the Occupation Certificate for Address by GS Season 1 Tower B in Thane during the quarter. The project comprises 270 units with a total RERA carpet area of 3,44,478 sq. ft. and was completed around 18 months ahead of its proposed completion date, which was in March 2028.
Rs 4,100 Crore Launch Pipeline
Raymond Realty plans to accelerate its growth over the next two quarters with a pipeline of Mumbai Metropolitan Region launches having a cumulative gross development value of more than Rs 4,100 crore.
The company plans to launch two joint development agreement projects in Mahim. Mahim 1 has a gross development value of Rs 1,800 crore and an area of 0.41 million sq. ft. as per RERA, while Mahim 2 has a gross development value of Rs 2,300 crore and a RERA area of 0.39 million sq. ft.
“These launches are expected to strengthen our market position and support our objective of achieving the pre-sales guidance for FY27,” Sahni said.
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Raymond Realty Reaffirms FY27 Guidance
The company's gross borrowings increased by Rs 125 crore during the quarter to Rs 1,220 crore as of Sept. 30, 2026. With liquidity of Rs 306 crore, net debt stood at Rs 914 crore, while the net debt-to-equity ratio remained below the board-approved ceiling of 1.0 times.
Raymond Realty remains on track for its fiscal 2027 guidance of around 20% growth in pre-sales, ROCE (Return on Capital Employed) of around 20%, Ebitda (Earnings Before Interest, Taxes, Depreciation, and Amortisation) margin of 17% to 19%, and PAT (Profit After Tax) margin of 9% to 10%.
“Our approach remains disciplined: grow based on collections, keep leverage well within our ceiling, and compound returns for our shareholders,” Sahni said.
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