Raymond Realty Reports Q1 FY27 Highlights, Driven by Robust Pre-Sales and Strong Portfolio Execution
Raymond Realty Limited released its Investor Presentation for Q1 FY2027, detailing operational achievements, financial performance, and a diversified project portfolio across premium and aspirational segments. The company highlighted its progress toward an asset-light growth model and the significant cash flow visibility from ongoing and upcoming projects.Financial Performance Overview (Q1 FY27)
The company recorded substantial year-on-year growth in total income but reported a decline in net profit for the quarter.Key financial metrics for Q1 FY2027 compared to Q1 FY2026 are as follows:
| Profit & Loss Statement | Q1 FY27 (₹ Cr) | Q1 FY26 (₹ Cr) | Y-o-Y Change |
|---|---|---|---|
| Revenue from operations | 527 | 381 | 38% |
| Total Income | 536 | 392 | 37% |
| EBITDA | 70 | 41 | 71% |
| EBITDA Margin % | 13% | 11% | - |
| PBT (Profit Before Tax) | 15 | 21 | (29%) |
| Net Profit | 13 | 16 | (19%) |
Financial Position and Cash Flow
The company maintained a stable financial position in Q1 FY27.Balance Sheet Snapshot:
| Balance Sheet Item | Q1 FY27 (₹ Cr) | FY26 (₹ Cr) |
|---|---|---|
| Total Assets | 7,050 | 7,062 |
| Equity | 1,582 | 1,567 |
| Total Liabilities | 7,050 | 7,062 |
Cash Flow Summary:
The company recorded a Net Operating Cash Flow of (₹ 141) Cr in Q1 FY27. The closing cash balance stood at ₹ 271 Cr, compared to ₹ 609 Cr in Q1 FY26.
Operational and Growth Visibility
Raymond Realty noted strong execution capabilities, having successfully delivered over 3,000 homes ahead of RERA timelines. Furthermore, the transition to an asset-light growth model is progressing, with Joint Development Agreements (JDA) now contributing more than 50% of the Gross GDV. The company reported that unsold and unlaunched GDV provides a multi-year presales and cash flow visibility exceeding ₹ 39,000 cr.The portfolio is diversified across Aspirational, Premium, and Luxury brands, including TenX, The Address by GS, and Invictus by GS, across prime micromarkets in the Mumbai Metropolitan Region (MMR).
Project Portfolio Details
The company’s project portfolio spans two major engines: Owned Land projects and JDA developments.GDV Breakup:
Total GDV stands at ₹ 52,000 cr. This is divided between Engine 1 (Own Land) at ₹ 25,000 and Engine 2 (JDAs) at ₹ 27,000. Of the total, revenue recognized stood at ₹ 9,000 cr, while unsold inventory is reported at ₹ 15,700 cr.
Project Cashflow Projection:
The projected cash flows from the ongoing and upcoming projects totaled estimated over ₹ 14,421 crore net surplus Project level cashflows.
| Cash Flow Indicator | Ongoing Projects (₹ Cr) | Upcoming Projects (₹ Cr) | Total (₹ Cr) |
|---|---|---|---|
| Sold Receivables | 4,148 | 0 | 4,148 |
| Unsold Inventory | 15,700 | 24,000 | 39,700 |
| Estimated Balance Surplus Cashflow | 8,617 | 5,804 | 14,421 |
Ongoing and Upcoming Projects Summary
The company reported a comprehensive pipeline across multiple segments. The following tables summarize the status of ongoing projects (projects with recognized revenue) and the upcoming launch pipeline.Ongoing Launched Projects:
The portfolio includes various projects categorized as Owned or JDA developments, spanning significant GDV commitments up to ₹ 28,000 cr. For example:
| Project Name | Category | Total Estimated GDV (₹ Cr) | Revenue Recognized Till Date (₹ Cr) | Collections Till date (₹ Cr) |
|---|---|---|---|---|
| TenX Habitat | Owned | 3,500 | 3,433 | 3,730 |
| The Address by GS (Season 1) | Owned | 1,600 | 1,439 | 1,437 |
| Invictus by GS & The Address by GS-II | Owned | 2,400 | 902 | 1,096 |
Future Launch Pipeline:
The pipeline for upcoming projects is valued at a combined Expected Booking Value of ₹ 24,100 cr, with an estimated saleable area of 8.23 mn sq ft. These future launches include:
| Project Name | Category / Economic Interest | Estimated Completion Date | Expected Booking Value (₹ Cr) |
|---|---|---|---|
| Mahim-Seaview | JDA (82.4%) | FY31 | 2,300 |
| Kandivali | JDA (70.2%) | FY34 | 3,000 |
| Thane Owned Land Parcel | Owned (100.0%) | FY36 | 8,500 |
Guidance and Capital Profile
The company projected a ~20% growth in pre-sales for FY27, with anticipated margins including an EBITDA Margin of 17-19% and a PAT Margin of 9-10%. The current capital profile shows the company operating with financial discipline, reporting an average ROE of 24%, a Debt/Equity ratio of 0.6, and a Cost of Debt of 9.6%.RAYMONDREL Stock Price Movement
Shares of Raymond Realty Limited settled lower today, shedding 1.11% in post-market trading to close at ₹572.6. The stock traded within a day range of ₹569.05 to ₹584 on a volume of 153,682 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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