Raymond Realty Ltd
Raymond Realty Q1 FY26 earnings call: Revenue & Margins
Q1 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Raymond Realty expects a 20% year-on-year growth in revenue for FY26, consistent with previous guidance. FY25 revenue was about INR2,300 crores with an expected 20% growth in FY26.
From Raymond Realty Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Raymond Realty expects a 20% year-on-year growth in revenue for FY26, consistent with previous guidance.
- New project launches are concentrated in Q3 and Q4 of FY26, which should drive sales and margin improvements in the second half of the year.
- Annual signing targets for Joint Development Agreements (JDA) projects are between INR 6,000 to INR 10,000 crores, helping maintain a strong project pipeline.
- The company aims to maintain steady-state operating margins around 20%.
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Profitability & Margins
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Capital Expenditure Plans
- Raymond Realty plans significant capital allocation toward launching new projects, targeting to sign JDAs worth INR6,000-10,000 crores annually.
- The company is focused on an asset-light model through Joint Development Agreements (JDAs), minimizing heavy landholding investments.
- Five projects are expected to launch in the next year, requiring capital deployment for project execution.
- Management prefers reinvesting earnings into business growth rather than financial engineering like buybacks.
- Capital expenditure prioritizes project launches with targeted IRRs of 20%-25%, emphasizing profitable growth rather than buybacks or share price engineering.
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Top-ranked in Realty
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Raymond Realty's JDA projects have a Gross Development Value (GDV) of approximately INR 14,000 crores.
- Raymond Realty’s share in these JDA projects is about INR 11,500 crores.
- The projected timeline for completion of these projects is between five to six years.
- Inventory launches are scheduled with 3-4 launches by March and 1-2 more in Q1 and Q2 of the next year.
- Two new buildings worth INR 1100 crores (318 units) are being introduced imminently.
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Raymond Realty Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.2K Cr, net profit ₹161 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Raymond Realty Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Raymond Realty Ltd Q1 FY26 results?
Raymond Realty expects a 20% year-on-year growth in revenue for FY26, consistent with previous guidance. FY25 revenue was about INR2,300 crores with an expected 20% growth in FY26.
What is Raymond Realty Ltd share price analysis?
Raymond Realty Ltd currently shows a neutral. The stock trades at a P/E of 12.8 with a market cap of ₹3,847 Cr. Investors should review the full earnings analysis for detailed insights.
Is Raymond Realty Ltd planning capital expenditure?
Raymond Realty plans significant capital allocation toward launching new projects, targeting to sign JDAs worth INR6,000-10,000 crores annually.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.