Raymond Realty Limited – Investor Presentation Summary

Key Operational Highlights

  • Strong Pre-Sales Trajectory: Q2 FY27 Pre-Sales up 98% YoY to ₹902 Cr; H1 FY27 Pre-Sales up 111% YoY to ₹1,602 Cr
  • Robust Customer Collections: Q2 FY27 Collections up 67% YoY to ₹682 Cr; H1 FY27 Collections up 57% YoY to ₹1,233 Cr
  • Driven by strong sustenance sales across ongoing projects, validating deep homebuyer trust and premium positioning
  • Currently positioned amongst Top 10 Real Estate players in India
  • Total Gross Development Value (GDV) of ₹52,000 Cr across portfolio

Key drivers of operational performance: Strong sales velocity in existing "Address by GS" portfolio, optimized product mix, premium positioning in micro markets

Segment-wise Performance

  • Own Land Portfolio: ₹25,000 Cr GDV, ₹16,500 Cr Launched, ₹9,770 Cr Sold, ₹7,570 Cr Revenue Recognized
  • JDA Portfolio: ₹27,000 Cr GDV, ₹11,500 Cr Launched, ₹3,430 Cr Sold, ₹1,930 Cr Revenue Recognized
  • JDAs represent 36% of total area but account for 52% of portfolio GDV due to higher realizations

Explanation of significant changes in segment performance: Non-Thane realizations average ~₹35,000/sq ft (~1.5x Thane), led by marquee corridors like Bandra, BKC, Sion and Wadala

Financial Highlights

Revenue: ₹749 Cr (Q2 FY27), ₹1,275 Cr (H1 FY27)

EBITDA: ₹115 Cr (Q2 FY27), ₹185 Cr (H1 FY27)

PAT: ₹53 Cr (Q2 FY27), ₹66 Cr (H1 FY27)

EBITDA Margin: 15% (Q2 FY27), 14% (H1 FY27)

PBT Margin: 8.8% (Q2 FY27), 6.3% (H1 FY27)

PAT Margin: Not Specified

YoY/QoQ comparison: Q2 FY27 Revenue up 7% YoY, EBITDA up 14% YoY, PAT down 12% YoY; H1 FY27 Revenue up 18% YoY, EBITDA up 30% YoY, PAT down 14% YoY

Drivers of financial performance: Optimized product mix, sustained sales velocity, higher realizations in premium micro markets

Comparison to market estimates: Not Specified

Key Risks: Not explicitly disclosed

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Not Specified

Regional Breakdown: Not Specified

Balance Sheet Snapshot

Net Debt/Equity: Not Specified

Reserves: Not Specified

Current Assets: ₹7,775 Cr (H1 FY27)

Current Liabilities: ₹5,486 Cr (H1 FY27)

Total Assets: ₹7,912 Cr (H1 FY27)

Total Equity: ₹1,622 Cr (H1 FY27)

Working Capital/Leverage Metrics: Not Specified

Financial Health Insights: Not Specified

Capex & Cash Flow Health

Capital Expenditure: Not Specified

Free Cash Flow: Not Specified

Operating Cash Flow: Net Operating Cash Flow of (₹205) Cr (H1 FY27)

Net Debt Movement: Not Specified

Investment Rationale: Focus on capacity expansion through JDAs in prime micro markets

Strategic & R&D Initiatives

Investments in Innovation: Scaling through asset-light JDA model, premium positioning in prime micro markets like Mahim and Parel

Expected impact on growth: Realizations will further improve as new launches planned in Prime Micro markets

Strategic Rationale: Expanding into high-growth premium micro markets, reducing operational costs through asset-light model

Industry Trends & Business Environment

Macro/Industry Trends: Not Specified

Impact on Company: Not Specified

Management Commentary & Growth Outlook

Strategic Outlook: Delivering unprecedented growth, setting new industry benchmark for speed and scale in Indian real estate

FY Guidance: ~20% pre-sales growth, ~20% ROCE, 17-19% EBITDA margin, 9-10% PAT margin for FY27

Market Share Targets: Not Specified

Risks and Opportunities: Not Specified

Project Portfolio Details

  • Ongoing Launched Projects: 15 projects with ₹28,000 Cr GDV, ₹13,200 Cr sold, ₹10,078 Cr revenue recognized
  • Launch Pipeline: 5 upcoming projects with ₹24,000 Cr expected booking value
  • Project portfolio estimated to generate over ₹14,375 crore net surplus project level cash flows

Brand Portfolio Performance

  • Aspirational: ₹7,100 Cr Launched, ₹5,300 Cr Sold, ₹1,800 Cr Unsold
  • Premium: ₹17,300 Cr Launched, ₹6,800 Cr Sold, ₹10,500 Cr Unsold
  • Luxury: ₹3,600 Cr Launched, ₹1,100 Cr Sold, ₹2,500 Cr Unsold

Leadership Team

  • 100% Board Independence with all committees chaired by Independent Directors
  • Management team with 20-40+ years experience across real estate, finance, and operations
  • Statutory Auditors: Walker Chandiok & Co LLP (Grant Thornton) and Chaturvedi & Shah LLP

ESG Performance: Mentioned but no specific details provided