Latest news with #RRL
Time of India
2 days ago
- 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.
Economic Times
2 days ago
- Business
- Economic Times
Raymond surges 7% as realty subsidiary set to debut on bourses
Raymond's real estate arm, Raymond Realty Ltd, will list on the stock market today. Synopsis Raymond shares surged 7% as Raymond Realty Ltd (RRL) debuts on stock exchanges today, following a demerger granting Raymond shareholders one RRL share per Raymond share. RRL, now independent, offers direct real estate exposure. SBI Securities projects a listing price between Rs 897 and Rs 1,430, based on FY26 EV/EBITDA multiples. Shares of Raymond surged 7% as its real estate subsidiary, Raymond Realty Ltd (RRL), is set to debut on the stock exchanges today, July 1, marking a major milestone in the group's restructuring efforts. The listing follows a recent demerger, with Raymond shareholders receiving one RRL share for every Raymond share held. ADVERTISEMENT RRL, now operating as an independent, pure-play real estate entity, offers investors direct exposure to the group's real estate business for the first time. According to SBI Securities, the stock is likely to list between Rs 897 and Rs 1,430, based on projected FY26 EV/EBITDA multiples of 11–15x and EBITDA growth forecasts of 0–20% over FY25. Raymond's share price is currently at Rs 756.10, reflecting a 6.59% increase from its previous close of Rs 624.35. The company's market capitalization now stands at Rs 4,722.74 crore. Over the past six months, the stock has declined by 55.37%. During the last 52 weeks, Raymond's share price has touched a high of Rs 3,496.00 and a low of Rs stock has a Price-to-Earnings (P/E) ratio of 0.62 and a Price-to-Book (P/B) ratio of 14-day Relative Strength Index (RSI) is at 53.7, with RSI levels below 30 considered oversold and above 70 considered overbought. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
2 days ago
- Business
- Time of India
Raymond surges 7% as realty subsidiary set to debut on bourses
Shares of Raymond surged 7% as its real estate subsidiary , Raymond Realty Ltd (RRL), is set to debut on the stock exchanges today, July 1, marking a major milestone in the group's restructuring efforts. The listing follows a recent demerger, with Raymond shareholders receiving one RRL share for every Raymond share held. RRL, now operating as an independent, pure-play real estate entity, offers investors direct exposure to the group's real estate business for the first time. According to SBI Securities, the stock is likely to list between Rs 897 and Rs 1,430, based on projected FY26 EV/EBITDA multiples of 11–15x and EBITDA growth forecasts of 0–20% over FY25. Technical Outlook & Valuation Snapshot: Raymond's share price is currently at Rs 756.10, reflecting a 6.59% increase from its previous close of Rs 624.35. The company's market capitalization now stands at Rs 4,722.74 crore. Over the past six months, the stock has declined by 55.37%. During the last 52 weeks, Raymond's share price has touched a high of Rs 3,496.00 and a low of Rs 523.10. Live Events The stock has a Price-to-Earnings (P/E) ratio of 0.62 and a Price-to-Book (P/B) ratio of 1.14. The 14-day Relative Strength Index (RSI) is at 53.7, with RSI levels below 30 considered oversold and above 70 considered overbought. ETMarkets WhatsApp channel )
Economic Times
2 days ago
- Business
- Economic Times
Raymond Realty shares to list on exchanges today. What to expect?
Raymond Realty Limited is debuting on the stock market today after separating from Raymond. This move allows investors direct access to its real estate business. Brokerages predict positive listing prospects for Raymond Realty. The company focuses on a large land parcel in Thane and has joint development agreements in Mumbai. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Raymond Realty financial performance Tired of too many ads? Remove Ads Shares of Raymond Realty Ltd (RRL) are set to list on the stock exchanges today, July 1, following its demerger from Raymond. The company, which has emerged as a focused real estate player within the group, is getting independently listed for the first time, unlocking value for shareholders and enabling investors to gain direct exposure to its real estate per the terms of the demerger, every shareholder of Raymond Ltd has received one share of Raymond Realty for every share are optimistic about Raymond Realty's listing prospects. Ventura Securities has pegged a FY28 DCF-based target price of Rs 1,383 per share, while SBI Securities expects the listing price to be in the range of Rs 897 to Rs 1,430, depending on the valuation multiple assigned by the firm is likely to list at a FY26E EV/EBITDA multiple of 11–15x, and with an expected EBITDA growth of 0–20% over FY25, SBI Securities has assigned a base case fair value of Rs 1,148 per share, assuming 10% YoY EBITDA growth in FY26 and a 13x EV/EBITDA valuations are benchmarked against peers such as Arkade Developers, Keystone Realtors, and Sunteck Realty, which currently trade at an average EV/EBITDA multiple of Realty's operations are centered around a 100-acre land parcel in Thane. Of this, approximately 40 acres are currently under development with a carpet area of 4 million sq ft, having a revenue potential of around Rs 9,000 remaining 60 acres are expected to be developed over the next 6–8 years, with a projected carpet area of 7 million sq ft and an estimated revenue potential of Rs 16,000 crore. The total GDV of the Thane land bank is thus pegged at Rs 25,000 addition to its Thane projects, the company has signed six Joint Development Agreements (JDAs) across key locations in Mumbai including Bandra, Mahim, Sion, and Wadala. The estimated revenue potential from these JDA projects is Rs 14,000 the JDA model, RRL is not required to invest in land acquisition and only manages the construction and execution, thereby keeping its balance sheet forward, around 40–45% of revenues are expected to come from JDAs over the next 7 years, increasing to nearly 70% in the long term. In FY26, the company plans to launch two new projects on its own land in Thane and four new projects under the JDA model. Over the next 3–4 years, JDA projects are expected to contribute nearly half of the company's Realty reported a 13% year-on-year growth in real estate revenue and EBITDA in Q4FY25, with revenue at Rs 766 crore and EBITDA at Rs 194 crore. For the full year FY25, revenue grew 45% YoY to Rs 2,313 crore and EBITDA rose 37% YoY to Rs 507 crore. The EBITDA margin for Q4FY25 stood at 25.3%, unchanged YoY, while the FY25 EBITDA margin was 21.9%, down 140 basis points for Q4FY25 stood at Rs 636 crore, down 24% YoY due to the absence of new project launches. As of March 2025, the company had a net cash surplus of Rs 395 crore, with closing cash and equivalents at Rs 585 crore and gross debt of Rs 190 crore. The company follows the Percentage Completion Method for revenue ahead, RRL's medium-term outlook is focused on developing 60 acres in Thane over 6–8 years and deepening its presence in Mumbai redevelopment through the JDA route. The company's targeted RoCE for projects is 20–22%, and it is confident of surpassing this guidance. Over FY25–28E, RRL expects revenue, EBITDA, and net earnings to grow at a CAGR of 20%, 17%, and 15.9% respectively, reaching Rs 4,065 crore, Rs 813 crore, and Rs 426 crore. EBITDA and net margins are expected to remain steady at 20% and 10.5% respectively. With its asset-light development approach, the company aims to remain net debt free, enabling it to maintain a healthy RoE of 16.2% by to Ventura Securities, the demerger of Raymond Realty provides strategic clarity and unlocks shareholder value by enabling the company to pursue a dedicated and sustainable real estate growth strategy.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
2 days ago
- Business
- Time of India
Raymond Realty shares to list on exchanges today. What to expect?
Shares of Raymond Realty Ltd (RRL) are set to list on the stock exchanges today, July 1, following its demerger from Raymond. The company, which has emerged as a focused real estate player within the group, is getting independently listed for the first time, unlocking value for shareholders and enabling investors to gain direct exposure to its real estate operations. As per the terms of the demerger, every shareholder of Raymond Ltd has received one share of Raymond Realty for every share held. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Full mouth dental implants for the elderly in Malaysia - see prices in 2025 Dental Implants | Search Ads Search Now Undo Brokerages are optimistic about Raymond Realty's listing prospects. Ventura Securities has pegged a FY28 DCF-based target price of Rs 1,383 per share, while SBI Securities expects the listing price to be in the range of Rs 897 to Rs 1,430, depending on the valuation multiple assigned by the market. The firm is likely to list at a FY26E EV/EBITDA multiple of 11–15x, and with an expected EBITDA growth of 0–20% over FY25, SBI Securities has assigned a base case fair value of Rs 1,148 per share, assuming 10% YoY EBITDA growth in FY26 and a 13x EV/EBITDA multiple. These valuations are benchmarked against peers such as Arkade Developers, Keystone Realtors, and Sunteck Realty, which currently trade at an average EV/EBITDA multiple of 17x. Live Events Raymond Realty's operations are centered around a 100-acre land parcel in Thane. Of this, approximately 40 acres are currently under development with a carpet area of 4 million sq ft, having a revenue potential of around Rs 9,000 crore. The remaining 60 acres are expected to be developed over the next 6–8 years, with a projected carpet area of 7 million sq ft and an estimated revenue potential of Rs 16,000 crore. The total GDV of the Thane land bank is thus pegged at Rs 25,000 crore. Also read: Silver price will explode in July: Rich Dad Poor Dad author Robert Kiyosaki In addition to its Thane projects, the company has signed six Joint Development Agreements (JDAs) across key locations in Mumbai including Bandra, Mahim, Sion, and Wadala. The estimated revenue potential from these JDA projects is Rs 14,000 crore. Under the JDA model, RRL is not required to invest in land acquisition and only manages the construction and execution, thereby keeping its balance sheet light. Going forward, around 40–45% of revenues are expected to come from JDAs over the next 7 years, increasing to nearly 70% in the long term. In FY26, the company plans to launch two new projects on its own land in Thane and four new projects under the JDA model. Over the next 3–4 years, JDA projects are expected to contribute nearly half of the company's pre-sales. Raymond Realty financial performance Raymond Realty reported a 13% year-on-year growth in real estate revenue and EBITDA in Q4FY25, with revenue at Rs 766 crore and EBITDA at Rs 194 crore. For the full year FY25, revenue grew 45% YoY to Rs 2,313 crore and EBITDA rose 37% YoY to Rs 507 crore. The EBITDA margin for Q4FY25 stood at 25.3%, unchanged YoY, while the FY25 EBITDA margin was 21.9%, down 140 basis points YoY. Pre-sales for Q4FY25 stood at Rs 636 crore, down 24% YoY due to the absence of new project launches. As of March 2025, the company had a net cash surplus of Rs 395 crore, with closing cash and equivalents at Rs 585 crore and gross debt of Rs 190 crore. The company follows the Percentage Completion Method for revenue recognition. Looking ahead, RRL's medium-term outlook is focused on developing 60 acres in Thane over 6–8 years and deepening its presence in Mumbai redevelopment through the JDA route. The company's targeted RoCE for projects is 20–22%, and it is confident of surpassing this guidance. Over FY25–28E, RRL expects revenue, EBITDA, and net earnings to grow at a CAGR of 20%, 17%, and 15.9% respectively, reaching Rs 4,065 crore, Rs 813 crore, and Rs 426 crore. EBITDA and net margins are expected to remain steady at 20% and 10.5% respectively. With its asset-light development approach, the company aims to remain net debt free, enabling it to maintain a healthy RoE of 16.2% by FY28. According to Ventura Securities, the demerger of Raymond Realty provides strategic clarity and unlocks shareholder value by enabling the company to pursue a dedicated and sustainable real estate growth strategy. Also read: Investors must moderate return expectations, stick to asset allocation: Nilesh Shah ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
