Raymond Realty Q1 FY27: 129% Booking Value Surge

Raymond Realty has delivered robust unaudited financial results for the first quarter of fiscal year 2027, concluding on June 30, 2026. The company recorded an impressive Booking Value (BV) of 700 Crore, marking a 129% growth compared to the previous year.

This significant performance indicates strong homebuyer confidence and effective strategic execution within its core markets. The company’s asset-light Joint Development Agreement (JDA) model appears to be a key driver behind these numbers.

Key Financial Highlights

• Booking Value (BV) surged by 129% year-on-year to 700 Crore, up from 306 Crore in Q1 FY26.
• Customer collections increased by 47% year-on-year, reaching 550 Crore.
• Total income rose by 37% to 536 Crore for the quarter.
• EBITDA experienced a 70% year-on-year surge, reaching 70 Crore.
• EBITDA margins stood at 13% for the reporting period.

Operationally, Raymond Realty’s total portfolio now boasts a Gross Development Value (GDV) of approximately 52,000 Crore. This value is strategically diversified across both owned land and JDA projects, highlighting a balanced growth approach.

Strategic Portfolio Expansion

• The company secured an ~8,500 Crore JDA project in Parel, accelerating its expansion into South Mumbai’s high-end housing sector.
• The 100-acre Thane Land Parcel holds a revenue potential of ~25,000 Crore, with ~9,400 Crore already sold.
• The JDA portfolio, comprising eight projects, has a combined revenue potential of ~27,000 Crore, with ~2,900 Crore already sold.

Financially, the company maintains a healthy balance sheet, reporting a Net Debt of 824 Crore. Its prudent debt-to-equity ratio of 0.7x remains well below its 1.0x ceiling, providing ample liquidity for future expansion initiatives.

Leadership Outlook & Future Targets

Mr. Harmohan Sahni, Managing Director & CEO, attributed the strong performance to sustained homebuyer confidence and the successful execution of their disciplined, asset-light JDA strategy across prime micro-markets in the Mumbai Metropolitan Region (MMR).

• Raymond Realty targets approximately 20% growth in both pre-sales and revenue for FY27.
• The company aims to achieve an EBITDA margin profile in the range of 17%-19% for the full fiscal year.

These targets underscore a clear commitment to continued growth, leveraging their successful asset-light model and strong market position. The Q1 FY27 results set a positive tone for the year ahead, indicating strategic initiatives are paying off for Raymond Realty.