Raymond Realty Q2 FY27: PAT ₹131 Cr & Rev ₹536 Cr

Investor Takeaways

Q1 FY27 revenue grew 37% YoY to ₹536 crore, driven by strong demand across ongoing and new projects.

Pre-sales surged 129% YoY to ₹700 crore, reflecting robust project pipeline and demand momentum.

Collections rose 47% YoY to ₹550 crore, indicating improved cash flow realization.

EBITDA margin expanded to 13% from 11% YoY, supported by disciplined financials and 9.6% cost of debt.

FY27 guidance projects 20% growth in pre-sales, revenue, and ROCE, with EBITDA margin target of 9-10% and PAT margin of 17-19%.

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹536 Cr	+37%
Net Profit	₹131 Cr	N/A
EBITDA	₹70 Cr	N/A
EBITDA Margin	13%	+2 pp
Pre-sales	₹700 Cr	+129%
Collections	₹550 Cr	+47%

What Changed

Raymond Realty reported Q1 FY27 revenue of ₹536 crore, up 37% YoY, with EBITDA at ₹70 crore and 13% margin. Pre-sales grew 129% YoY to ₹700 crore, driven by strong demand across ongoing and new projects. Collections rose 47% to ₹550 crore, reflecting improved cash flow realization. The company highlighted a ₹24,000 crore unsold and unlaunched GDV pipeline, supporting its FY27 guidance of ~20% growth in pre-sales, revenue, and ROCE. EBITDA margin improved to 13% from 11% YoY, aided by disciplined financials with 9.6% cost of debt and CARE A+ rating. Management emphasized execution focus on project delivery and cash flow management to sustain momentum.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Raymond Realty Limited	12.06	N/A	N/A	3,673.87
DLF Limited	35.01	N/A	N/A	1,40,288.48
Lodha Developers Limited	33.53	N/A	N/A	84,909.91
The Phoenix Mills Limited	46.02	N/A	N/A	62,174.6

Raymond Realty trades at a significant discount to peers on P/E ratio (12.06 vs. 33.53–46.02), suggesting potential undervaluation relative to growth trajectory, though peer ROE/ROCE data is unavailable for direct comparison.

Risks & Concerns

No specific risks identified in the filing; however, execution risks in project delivery and cash flow management are noted as potential concerns in the investor takeaway.

Peer comparison reveals limited financial metric transparency (ROE/ROCE unavailable), restricting direct operational benchmarking.

Quarterly Trend

Not provided in the context; section omitted per instructions.

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About Raymond Realty Limited (RAYMONDREL)

Realty · Realty · Listed on NSE

Market Cap: ₹3,365.63 Cr P/E: 11.2 ROE: 19.2% ROCE: 19.3% Div Yield: 0.40%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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