Raymond Realty Limited shareholders approved an increase in authorised share capital and a preferential issue of securities on a private placement basis during an Extraordinary General Meeting (EGM) held on October 8, 2026.

The resolutions, which included an ordinary resolution for the capital increase and a special resolution for the preferential issue, were passed with the requisite majority. The meeting was conducted through two-way video conferencing, allowing members to vote remotely or during the session.

Voting outcomes

The e-voting results indicated strong support from both promoter and public shareholders. The promoter and promoter group voted unanimously in favour of both resolutions. Public institutional shareholders also supported the measures without dissent. Among public non-institutional shareholders, a small minority voted against the preferential issue, but the overall majority remained overwhelmingly in favour.

Meeting details and compliance

The EGM was held at 12:00 pm and concluded by 12:40 pm. A total of 52 shareholders attended the meeting through video conferencing, comprising 8 from the promoter group and 44 public shareholders. The scrutinizer’s report confirmed that all resolutions were passed in compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company disclosed that the voting results and scrutinizer’s report are available on its website and the National Securities Depository Limited platform for public review.

Raymond Realty Limited reported provisional pre-sales of ₹902 crore for the second quarter of FY27, marking a 98% year-on-year increase from ₹455 crore in the corresponding period last year. This surge occurred without any new project launches, driven entirely by sustained sales velocity within its existing portfolio.

Collections also witnessed robust growth, rising 67% YoY to ₹682 crore. For the first half of FY27, cumulative pre-sales stood at ₹1,602 crore, up 111% from ₹760 crore in H1FY26, while collections reached ₹1,233 crore, reflecting a 57% YoY expansion.

Pricing strategy and new launches

The company indicated it will look at price hikes of 6-8% for its upcoming inventory. Raymond Realty plans to accelerate growth through two premier Joint Development Agreement (JDA) launches in Mahim during the second half of FY27, representing a cumulative Gross Development Value (GDV) of over ₹4,100 crore. Additionally, the company confirmed it will also launch a project in Thane.

Operational performance metrics

The company attributed the strong quarterly performance to resilient sustenance sales and steady price realization in its Address by GS projects. A key operational milestone during the quarter was the receipt of the Occupation Certificate (OC) for The Address by GS Season 1 Tower B in Thane. Comprising 270 units with a total RERA carpet area of 3,44,478 sq ft, this delivery occurred approximately 18 months ahead of the proposed RERA completion date of March 2028.

Note: Figures are provisional and subject to review.

Balance sheet and leverage

On the balance sheet front, gross borrowings increased by ₹125 crore during the quarter to reach ₹1,220 crore as of September 30, 2026. These funds were primarily utilized for construction across FY26 launches. With liquidity standing at ₹306 crore, net debt was recorded at ₹914 crore, maintaining a net debt-to-equity ratio well below the Board-approved ceiling of 1.0x. CARE Ratings reaffirmed the company’s credit rating at CARE A+ with a Stable outlook, citing consistent booking momentum and healthy execution.

Financial guidance and profitability targets

The company has outlined specific financial targets for the full fiscal year FY27. Raymond Realty expects 20% growth in pre-sales for the year. Profitability metrics are projected to remain robust, with Return on Capital Employed (ROCE) targeted at 20%. The company anticipates EBITDA margins between 17% and 19%, while Profit After Tax (PAT) margins are expected to range from 9% to 10%.

What the numbers show

A notable divergence exists between the rate of pre-sales growth (98%) and collections growth (67%). While both figures indicate strong demand, the faster acceleration in bookings compared to cash inflows suggests that a portion of the revenue conversion is still pending or that payment schedules for newer bookings are lagging behind booking recognition. The decision to implement 6-8% price hikes aligns with this strong booking momentum, potentially supporting the projected EBITDA margins of 17-19% despite rising construction costs implied by increased borrowings.