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.

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.

Growth pipeline and leverage

Looking ahead, Raymond Realty plans to accelerate growth through two premier Joint Development Agreement (JDA) launches in Mahim during the second half of FY27. These projects represent a cumulative Gross Development Value (GDV) of over ₹4,100 crore.

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. However, the company maintains that this capital deployment is aligned with a robust collection pipeline intended to unlock revenue milestones over the next 12 to 18 months. The guidance for stable high-single-digit PAT margins alongside 20% top-line growth indicates a focus on maintaining profitability levels even as the company scales its operational footprint.

Raymond Realty Limited will participate in a virtual investor conference on September 30, 2026. The event is organized by Arihant Capital as part of its "Bharat Connect Virtual Conference - Rising Stars" series.

Conference details

The company confirmed that its representatives will attend the scheduled group meeting. The session is designed for investor engagement and will follow a virtual format. Raymond Realty stated that the schedule may undergo changes due to exigencies on the part of investors or the company.

Presentation availability

Raymond Realty will use its existing investor presentation for the conference. This document was previously submitted to the stock exchanges and made available on the company's website on August 19, 2026. Stakeholders can access the materials through standard corporate disclosure channels prior to the event.