Raymond Realty Q2 FY27 Income Up 7% to ₹757 Cr, EBITDA Grows 14% to ₹115 Cr
Raymond Realty's Q2 FY27 Total Income rose 7% YoY to ₹757 Cr, with EBITDA up 14% to ₹115 Cr and margins at 15%. Booking value surged 98% YoY to ₹902 Cr, and collections increased 67% YoY to ₹682 Cr. The company has a ₹4,100 Cr launch pipeline and reaffirmed FY27 guidance for 20% pre-sales growth and 17-19% EBITDA margin.
The results indicate strong operational performance and positive future outlook, with key financial metrics showing significant growth. The launch pipeline and reaffirmation of guidance suggest continued positive momentum, which is material for investors and stakeholders.
The company reported strong year-on-year growth in total income and EBITDA, improved margins, significant increases in booking value and customer collections, and reaffirmed positive financial guidance for the fiscal year. The early completion of a project ahead of RERA timelines also contributes to the positive sentiment.
Raymond Realty Limited announced its unaudited financial results for the second quarter and half year ended September 30, 2026. The company reported a Total Income of ₹757 Crore for Q2 FY27, a 7% increase year-on-year, driven by sustained sales velocity and price realization from its "Address by GS" portfolio, despite no new project launches during the quarter.
EBITDA for the quarter rose by 14% to ₹115 Crore, with EBITDA margins expanding to 15%. The company is on track to meet its FY27 EBITDA margin guidance of 17%-19%. Raymond Realty has a robust upcoming launch pipeline in the Mumbai Metropolitan Region (MMR) with a cumulative Gross Development Value (GDV) of over ₹4,100 crore.
The company's total portfolio is valued at approximately ₹52,000 Crore in GDV. The 100-acre Thane land parcel has a revenue potential of approximately ₹25,000 Crore, with about 65 acres currently under development. Booking Value for Q2 FY27 surged by 98% year-on-year to ₹902 Crore, and for H1 FY27 it was up 111% to ₹1,602 Crore. Customer collections in Q2 FY27 increased by 67% YoY to ₹682 Crore, and H1 FY27 collections were up 57% YoY to ₹1,233 Crore.
Raymond Realty completed the OC for Address by GS Season 1 Tower B in Thane, comprising 270 units, ahead of RERA timelines. The Joint Development Agreement (JDA) portfolio includes eight projects with a revenue potential of approximately ₹27,000 Crore. The company is accelerating its growth with a pipeline of MMR launches expected in the next two quarters, representing a cumulative GDV of over ₹4,100 crore, including two premier JDA project launches in Mahim.
The company maintained a prudent leverage ratio, concluding the quarter with a Gross Debt of ₹1,220 Crore and Net Debt of ₹912 Crore, resulting in a debt-to-equity ratio of 0.8x, comfortably below the 1.0x ceiling. Liquidity buffer stands at ₹308 Crore, sufficient for the next year's construction spends. The Cost of Debt remained stable at approximately 9.60%. CARE reaffirmed Raymond Realty's credit rating at CARE A+ with a Stable outlook.
Raymond Realty remains on track to achieve its FY27 guidance, projecting ~20% growth in pre-sales, ROCE of ~20%, EBITDA margin of 17-19%, and PAT margin of 9-10%. Mr. Harmohan Sahni, Managing Director & CEO, highlighted the strong operational momentum, customer trust, and construction capabilities, including delivering a Thane tower 18 months ahead of its RERA timeline. He expressed confidence in achieving full-year growth guidance and compounding returns for shareholders.
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