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Time of India
01-07-2025
- Business
- Time of India
Raymond Realty set to list on exchanges, looks of over 20% annual growth
NEW DELHI: Raymond Realty (RRL), the real estate arm of Raymond Group , will list on Indian stock exchanges, following its demerger from Raymond. The listing is aimed at unlocking shareholder value by creating a focussed, net debt free pure-play real estate entity. Harmohan Sahni , MD & CEO of the company said, "With a net debt-free balance sheet, 100 acre of owned land, and a capital-efficient joint development model, we are well-positioned to sustain over 20% annual growth and industry-leading ROCE of over 20%." The company operates through three residential brands - TenX, The Address by GS and Invictus, owns 100 acre land and six joint development agreements and has an estimated gross development value of approximately ₹400 billion.
Time of India
01-07-2025
- Business
- Time of India
Raymond Realty listing: Shares open below discovered price; brokerages still bullish on long-term prospects
Shares of Raymond Realty listed on the BSE at Rs 1,005 and on the NSE at Rs 1,000 on Tuesday, marking a weaker debut than the discovered price of Rs 1,039.30 on the NSE and Rs 1,031.30 on the BSE. Tired of too many ads? go ad free now According to ET, the listing followed the real estate arm's demerger from Raymond Ltd, giving shareholders one Raymond Realty share for every Raymond Ltd share held, thus directly exposing them to the group's property business for the first time. Brokerages remain bullish despite the lower-than-expected opening. As reported by ET, Ventura Securities has pegged a target price of Rs 1,383 per share based on FY28 DCF projections, while SBI Securities values the stock between Rs 897 and Rs 1,430 depending on valuation multiples. SBI has assigned a base case fair value of Rs 1,148, assuming a 10 per cent YoY EBITDA growth in FY26 and a 13x EV/EBITDA multiple. Raymond Realty's flagship operations are centred on a 100-acre land parcel in Thane, of which 40 acres with 4 million sq ft carpet area are under active development, holding an estimated revenue potential of Rs 9,000 crore. The remaining 60 acres will be developed over the next 6–8 years, potentially adding Rs 16,000 crore in revenue. Combined, the Thane land bank carries a Gross Development Value (GDV) of Rs 25,000 crore. The company has also expanded through six Joint Development Agreements (JDAs) across Mumbai in Bandra, Mahim, Sion and Wadala. The JDA portfolio is expected to generate Rs 14,000 crore in revenue, with the model allowing Raymond Realty to skip land acquisition costs and focus on execution, a strategy that keeps its balance sheet light. Tired of too many ads? go ad free now Around 40–45 per cent of future revenues are expected to come from JDA projects over the next seven years, rising to 70 per cent in the long term. According to news agency PTI, chairman and MD Gautam Singhania emphasised financial discipline amid heated real estate pricing, stating, 'I will do a deal only if it delivers on financial returns.' CEO Harmohan Sahni reinforced this approach, saying the firm will not sign projects unless profit margins are at least 20 per cent. Sahni revealed that out of 1,400 projects evaluated, only six were finalised. For FY25, Raymond Realty posted a 45 per cent YoY increase in revenue to Rs 2,313 crore and a 37 per cent rise in EBITDA to Rs 507 crore. However, EBITDA margin declined slightly to 21.9 per cent. In Q4FY25, revenue was Rs 766 crore, EBITDA stood at Rs 194 crore, and pre-sales fell 24 per cent YoY to Rs 636 crore due to no new launches. The company ended FY25 with a net cash surplus of Rs 395 crore, supported by Rs 585 crore in cash and equivalents and gross debt of Rs 190 crore. Over FY25–28, it projects a CAGR of 20 per cent in revenue, 17 per cent in EBITDA, and 15.9 per cent in net earnings, with EBITDA and net margins expected to remain steady at 20 per cent and 10.5 per cent, respectively. Raymond Realty also aims to maintain a net-debt-free status and a RoE of 16.2 per cent by FY28. (Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India.)
Hindustan Times
30-06-2025
- Business
- Hindustan Times
Raymond Realty to debut on stock exchanges on July 1, to focus on real estate projects with a 20% profit margin
Raymond Realty Ltd, the real estate arm of the Raymond Group, has announced that it will debut on Indian stock exchanges on July 1, following its demerger from Raymond Ltd. Mumbai: Raymond Realty Ltd, the real estate arm of the Raymond Group, has announced that it will debut on Indian stock exchanges on July 1, following its demerger from Raymond Ltd(Mehul R Thakkar/HT Files) Top company officials said that Raymond Realty will only pursue development deals that offer a profit margin of at least 20%. The company stated that this listing marks a key milestone in its Raymond 2.0 transformation journey and reflects its strategy of unlocking value, similar to last year's demerger of its lifestyle business. "The listing is aimed at unlocking shareholder value by creating a focused, net debt-free pure-play real estate entity. The strategic move will allow greater operational efficiency, sharper market focus, and enhanced investor value creation," the company said in a statement. Also Read: Raymond signs joint venture to develop ₹ 5,000-crore housing project in Mumbai 'As Raymond Group steps into its next century, our focus on creating Raymond 2.0 will help us continue our legacy into a dynamic, purpose-driven and future-ready enterprise reflecting our commitment to innovation, execution excellence, and nation-building," Gautam Hari Singhania, Group Chairman, Raymond Ltd., said. "Guided by our three distinct business entities—Lifestyle, Real Estate, and Engineering, Raymond Realty is equipped with a professional management team and a strong board with a rich pedigree in the real estate sector. As Raymond Group marks a century of its operations, we are committed to delivering exceptional customer experiences, long-term sustainable growth, and enhanced value for our shareholders," Singhania said. Also Read: Luxury real estate showing signs of fatigue, but inventory in the hands of strong developers: Raymond Realty CEO On the milestone of listing, Harmohan Sahni, MD and CEO, Raymond Realty Ltd., said, 'At Raymond Realty, we are building more than just homes, and we are shaping India's urban skyline. With a net debt-free balance sheet, 100 acres of owned land, and a capital-efficient joint development model, we are well-positioned to sustain 20%+ annual growth and industry-leading ROCE of over 20%. This will help in further solidifying our position in the Indian real estate industry.' The company statement said that with its listing, RRL will be a pure-play real estate entity backed by a ₹ 40,000 crore development pipeline through a 100-acre owned land bank and a growing portfolio of JDAs, led by an over 400-member strong professional management team. Sahni told reporters on June 30 that the company will look at projects only if they deliver profit margins of over 20%. Also Read: Raymond Realty plans to foray into Pune real estate market: CEO Harmohan Sahni "We have already committed ₹ 40,000 crore of potential, of which ₹ 10,500 crore of potential has been launched and some of it has been sold. We will keep adding around ₹ 5,000 crore of potential every year going forward for the future," Sahni said.
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Business Standard
25-06-2025
- Business
- Business Standard
Raymond Realty eyes 30% rise in FY26 sales on robust housing demand
Raymond Realty is targeting a 30 per cent increase in its sales bookings this fiscal year to Rs 3,000 crore on strong launch pipeline of residential projects and robust demand. Raymond Realty, which is getting listed on stock exchanges on July 1 after demerger from Raymond Ltd, will launch six residential projects this fiscal year in the Mumbai Metropolitan Region with an estimated revenue potential of about Rs 14,000 crore. In an interview with PTI, Raymond Realty CEO Harmohan Sahni said housing demand continues to be strong, especially for reputed real estate developers. About sales bookings guidance for 2025-26, he said, "We are targeting Rs 3,000 crore pre-sales for the current fiscal year." Sahni said the company believes in keeping conservative target and over-achieving. Mumbai-based Raymond Realty, one of the leading real estate firms in the country, sold properties worth Rs 2,314 crore last fiscal year as against Rs 2,268 crore in the preceding year. Raymond Realty's revenue rose 45 per cent to Rs 2,313 crore in 2024-25 from Rs 1,593 crore in the preceding year. Sahni highlighted that the company has achieved significant growth since its inception in 2019. The demerger will position Raymond Realty to pursue its growth trajectory as an independent pure-play real estate business. Sahni said the company has huge land bank in the Mumbai Metropolitan Region (MMR) and is also partnering with landowners for development of residential projects. "In 2019, we started our first project. In the last six years we have built a significant presence at Thane and Mumbai in MMR," Sahni said. "The total gross development value (GDV) of about Rs 40,000 crore is what our portfolio looks like today. Of that, Rs 10,500 crore worth projects have already been launched," he added. Sahni said the remaining projects would be launched in the coming years. Sahni said the company will launch six projects in MMR this fiscal year with sales bookings potential of about Rs 14,000 crore. The company will offer housing units in a price range of Rs 2 crore to Rs 20 crore in the upcoming projects. Sahni said the company is focusing a lot on quality and timely completion of projects. Since inception, Raymond Realty has completed two housing projects while six projects are under construction. On upcoming listing of Raymond Realty, the company said the demerger scheme has become effective from the May 1, 2025, and the record date is May 14, 2025 for the purpose of determining the eligible shareholders of demerged company, Raymond Ltd. According to the scheme of arrangement, each shareholder of Raymond Ltd will receive one share of Raymond Realty Ltd for every share held in Raymond Ltd. Raymond Group has been a pioneer and leader in fabric manufacturing since 1925, and then forayed into other sectors such as engineering business and real estate. After demerging its lifestyle business into a separate listed entity in 2024, Raymond Ltd is carving out real estate vertical into a separate listed entity and will focus only on engineering business.
Time of India
25-06-2025
- Business
- Time of India
Raymond Realty aims 30 pc growth in sales bookings in FY26 at Rs 3,000 cr on strong housing demand
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Services 1. Raymond Realty to launch Rs 14,000 cr worth housing projects in FY26, fixes July 1 for listing on bourses Tired of too many ads? Remove Ads Raymond Realty is targeting a 30 per cent increase in its sales bookings this fiscal year to Rs 3,000 crore on strong launch pipeline of residential projects and robust Realty, which is getting listed on stock exchanges on July 1 after demerger from Raymond Ltd , will launch six residential projects this fiscal year in the Mumbai Metropolitan Region with an estimated revenue potential of about Rs 14,000 an interview with PTI, Raymond Realty CEO Harmohan Sahni said housing demand continues to be strong, especially for reputed real estate sales bookings guidance for 2025-26, he said, "We are targeting Rs 3,000 crore pre-sales for the current fiscal year."Sahni said the company believes in keeping conservative target and Raymond Realty, one of the leading real estate firms in the country, sold properties worth Rs 2,314 crore last fiscal year as against Rs 2,268 crore in the preceding Realty's revenue rose 45 per cent to Rs 2,313 crore in 2024-25 from Rs 1,593 crore in the preceding highlighted that the company has achieved significant growth since its inception in demerger will position Raymond Realty to pursue its growth trajectory as an independent pure-play real estate said the company has huge land bank in the Mumbai Metropolitan Region (MMR) and is also partnering with landowners for development of residential projects."In 2019, we started our first project. In the last six years we have built a significant presence at Thane and Mumbai in MMR," Sahni said."The total gross development value (GDV) of about Rs 40,000 crore is what our portfolio looks like today. Of that, Rs 10,500 crore worth projects have already been launched," he said the remaining projects would be launched in the coming said the company will launch six projects in MMR this fiscal year with sales bookings potential of about Rs 14,000 company will offer housing units in a price range of Rs 2 crore to Rs 20 crore in the upcoming said the company is focusing a lot on quality and timely completion of inception, Raymond Realty has completed two housing projects while six projects are under upcoming listing of Raymond Realty, the company said the demerger scheme has become effective from the May 1, 2025, and the record date is May 14, 2025 for the purpose of determining the eligible shareholders of demerged company, Raymond to the scheme of arrangement, each shareholder of Raymond Ltd will receive one share of Raymond Realty Ltd for every share held in Raymond Group has been a pioneer and leader in fabric manufacturing since 1925, and then forayed into other sectors such as engineering business and real demerging its lifestyle business into a separate listed entity in 2024, Raymond Ltd is carving out real estate vertical into a separate listed entity and will focus only on engineering business. PTI
