Shares of Raymond Realty surged 5% intraday before settling 3% higher at ₹668.75 (BSE filing), up 28% year‑to‑date. The rally followed the release of the Q2 filing on Monday.
The company reported pre‑sales that rose 98% to ₹902 cr from ₹455 cr in the same quarter last year, beating the consensus of ₹750 cr. CEO Harmohan Sahni said the rise was driven by resilient sustenance sales and sustained homebuyer confidence.
Collections surged 67% to ₹682 cr, up from ₹409 cr y‑o‑y, while gross borrowings increased ₹125 cr to ₹1,220 cr, keeping net debt at ₹914 cr and net debt‑to‑equity below 1x. Liquidity stood at ₹306 cr, providing a cushion for the upcoming construction spend.
CARE Ratings reaffirmed the company’s CARE A+ credit rating, citing consistent booking momentum and a robust launch pipeline. The agency highlighted the firm’s disciplined execution and strong pipeline as key to the rating stability.
Looking ahead, Raymond Realty targets 20% pre‑sales growth in FY27, with two JDA projects in Mahim projected to generate over ₹4,100 cr GDV. The firm expects margins of 17‑19% and aims to hit the pre‑sales guidance while maintaining a net debt‑to‑equity under the board‑approved limit.