Raymond Realty Reports 56% YoY Growth in Third Quarter Results

New Delhi, January 29, 2026: Raymond Realty Limited has announced its unaudited financial results for the quarter ended 31st December 2025. During the quarter, the Raymond Realty Limited delivered a total income of INR 766 Cr in Q3 FY26 vs INR 492 Cr in Q3 FY25, a 56 %per cent Y-o-Y growth. The revenue growth was driven by strong demand and a healthy delivery pipeline. EBITDA margins remained subdued, however, primarily due to product mix and higher upfront marketing costs associated with new launches.

Raymond Realty reported an EBITDA of INR 100 Cr in Q3 FY26 from INR 105 Cr in Q3 FY25 and an EBITDA margin at 13.0 per cent in Q3FY26 vs 21.4 per cent in Q3 FY25.

Commenting on the performance, Harmohan Sahni, Managing Director & CEO, Raymond Realty Limited said: “We delivered strong revenue growth during the quarter, reflecting healthy demand and successful execution of our new launches. Margins were temporarily impacted by upfront approval and marketing costs, which are essential investments to build scale and sustain long-term growth. As these projects mature, we expect operating leverage to drive a steady improvement in profitability.”

The total potential revenue from Raymond Realty’s real estate business is now close to ~INR 40,000 Cr, which includes:

Thane Land Parcel: 100 Acres with ~ INR 25,000 crore potential revenue; 55 acres currently under development which translates to ~5.8 MSF of RERA carpetarea with a potential revenue of ~ INR 13,200 crore, of which INR 8,500 crore has already been sold and INR 6,700 crore collected so far.

Raymond Realty is on track to launch two additional projects in the coming quarter—a TenX residential development focused on 2-BHK homes and a high-street retail project.

During the quarter, Raymond Realty launched its 2nd JDA project, Invictus by GS in BKC, which received an overwhelming response. This launch marks a structural pivot into the ultra-luxury segment, unlocking a revenue potential of over INR 2,000 crore from this project alone. Raymond Realty is strategically pivoting towards a balanced portfolio mix, aiming for JDA projects to contribute half of annual pre-sales within the next 2 to 3 years (by FY28). This represents a significant shift from the FY25 mix, where Thane projects accounted for 78 per cent and JDAs for 22 per cent.

Raymond Realty has six JDA’s in its portfolio, of which two are currently launched and under development (Address by GS – Bandra East, Invictus by GS – BKC). The remaining 4 JDA’s will be launched over the next 9 to 12 months.

In Q3 FY26, the company achieved a booking value of INR 743 crore, primarily driven by demand for ‘The Address by GS’ & ‘Invictus by GS’ in Thane, ‘The Address by GS’ in Bandra & ‘Invictus by GS’ in BKC.