The company’s pre-sales surged 98% to ₹902 crore from ₹455 crore in the same period last year. “We nearly doubled pre-sales this quarter without any new launches, supported by resilient sustenance sales and continued homebuyer confidence in our projects,” said Harmohan Sahni, managing director and chief executive officer of Raymond Realty.
The company said it maintained high sales momentum and steady price realisation, indicating sustained consumer demand, with its ‘Address by GS’ portfolio continuing to drive sales velocity, the filing said.
The company’s collections for the quarter rose 67% to ₹682 crore, compared with ₹409 crore in the year-ago period, signaling healthy execution and demand.
During the quarter, the company received an Occupation Certificate (OC) for The Address by GS Season 1 Tower in Thane, which comprises 270 units, approximately 18 months ahead of its RERA timeline estimation of March, 2028.
Gross borrowings rose by ₹125 crore during the quarter to ₹1,220 crore as of September 30, 2026, with the funds mainly used to finance construction for projects launched in FY26.
The company held liquidity of ₹306 crore, while net debt stood at ₹914 crore, keeping the net debt-to-equity ratio below the board-approved limit of 1x. The company said the borrowing was backed by its collection pipeline and would support revenue milestones over the next 12–18 months.
CARE Ratings separately reaffirmed the company’s CARE A+ credit rating, indicating a stable outlook. The rating agency cited consistent booking momentum and an improved launch pipeline, coupled with strong execution, for the reaffirmation.
The company was on track for 20% growth in pre-sales, a Return on Capital Employed (RoCE) of about 20%, and margins to be between 17% and 19% in FY27, according to the filing.
Raymond Realty said it was accelerating its growth trajectory over the next two quarters with a strong pipeline of Mumbai Metropolitan Region (MMR) launches.
“Representing a cumulative GDV of over ₹4,100 crore, these launches are expected to strengthen our market position and support our objective of achieving the pre-sales guidance for FY27,” Sahni said.
The company said the current financial year would feature two JDA projects in Mahim, Mumbai, with a combined GDV of over ₹4,100 crore across 0.80 million sq ft of RERA carpet area. The projects, Mahim 1 and Mahim 2, have estimated GDVs of ₹1,800 crore and ₹2,300 crore, respectively.
Having cooled from the initial spike, shares of Raymond Realty are trading 3% higher on Monday at ₹668.75. The stock is up 28% so far this year.