Raymond Realty has signed a Joint Development Agreement (JDA) to develop a premium residential project in Parel, Mumbai, with an estimated Gross Development Value (GDV) of approximately ₹8,500 crore. This marks the company's eighth major joint development venture and its maiden project in South Mumbai. The development is the largest undertaken by the company outside its flagship Thane land parcel, bringing the total real estate portfolio GDV to approximately ₹52,000 crore.

Project Details and Connectivity

The project is envisioned as a landmark premium residential development designed to integrate luxury, contemporary design, and wellness. It offers strategic location advantages, including unhindered sea views and connectivity to key business hubs. The site benefits from immediate access to the newly commissioned Atal Setu, linking it to the Navi Mumbai International Airport. Commute times to Worli, BKC, and Lower Parel are expected to reduce significantly via the Sewri-Worli Elevated Connector, scheduled to open by late 2026. Additionally, an upcoming underground tunnel is set to ensure seamless travel to Marine Drive and Nariman Point by 2028.

Strategic Expansion

Gautam Hari Singhania, Chairman of Raymond Group, highlighted that the expansion is guided by an asset-light, partnership-led approach to unlock value in sought-after locations. Harmohan Sahni, Managing Director & CEO of Raymond Realty Ltd., noted that the agreement underscores confidence in the premium residential market. The company employs a disciplined, asset-light model to maintain capital efficiency while unlocking high-value opportunities. With this addition, Raymond Realty continues to strengthen its presence across the Mumbai Metropolitan Region.

Raymond Realty Limited reported a 129% year-over-year surge in pre-sales to ₹700 Cr for the first quarter of FY27, driven by sustained demand in the Mumbai Metropolitan Region. This growth was achieved without any new residential project launches during the quarter, reflecting strong sales velocity across its Address by GS portfolios. Collections rose 47% to ₹550 Cr compared to ₹374 Cr in Q1 FY26, underscoring robust liquidity generation from operational activities.

Provisional Operational Metrics

The following table presents the key provisional operational highlights for Q1 FY27 compared to the same period last year. These figures are strictly provisional and subject to review.

Capital Allocation and Debt

Raymond Realty deployed ₹198 Cr in borrowings during the quarter to fund construction and working capital requirements for projects launched in FY26. Total outstanding borrowings as of June 30, 2026, reached ₹1,097 Cr, a significant increase from ₹380 Cr a year earlier. The company held liquidity of ₹270 Cr as of June 30, 2026, resulting in a net debt position of ₹827 Cr.

Financial Outlook

Management stated that the margin profile for Q1 FY27 reflects expected seasonality and is in line with financial forecasts. The company maintained that its Net Debt/Equity ratio remains below its internal ceiling of 1.0x. Raymond Realty reaffirmed its EBITDA margin guidance of 17% - 19% for FY27, anticipating that margins will normalize as project construction crosses revenue-recognition thresholds.