Raymond Reports 36% Revenue Growth in Q3 FY25 Results

Raymond Limited today announced its unaudited financial results for the quarter ended 31st December, 2024.

Note: The above performance includes the acquisition of MPPL completed in March 2024. Raymond Limited now comprises of Real Estate and Engineering businesses, excluding the Lifestyle business, which has been demerged into Raymond Lifestyle Limited, a separately listed entity.

Raymond Limited continued its growth momentum, delivering a healthy performance with consolidated quarterly revenue from Real Estate and Engineering business of ₹ G85 Cr, reflecting a 36% increase compared to the same quarter of the previous financial year, and an EBITDA of ₹ 16G Cr with an EBITDA margin of 17.2 %. This includes MPPL acquisition completed in March 2024.

The Real estate business continues to perform well and In Q3 FY25, the company achieved a booking value of ₹ 505 Cr, primarily driven by demand for The Address by GS 2.0, 'TenX ERA', Sale of Retail shops in Thane and in JDA 'The Address by GS' in Bandra. Raymond Limited continues to be a Net Cash Surpluscompany with ₹ 6G6 Cr available for future growth.

Commenting on the performance, Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said; “We witnessed continued growth momentum in our Real Estate business during the quarter, with a strong booking value on account of successful launch of a new residential tower and continued traction in high street retail shops on our Thane land. Additionally, we remain optimistic about the future of our Engineering business, particularly in the aerospace sector, where we foresee significant growth opportunities. As we enter the last quarter of the financial year, we remain optimistic about the growth trends across businesses and we are confident in our ability to deliver sustained value to our stakeholders”

Q3FY25 Segmental Performance

Real Estate Business:

Raymond Realty delivered a steady quarterly performance with a revenue of ₹ 488 Cr in Q3 FY25 from ₹439 Cr in Q3FY24 recording a growth of 11% Y-o-Y. The segment reported an EBITDA of ₹116 Cr in Q3 FY25 from ₹97 Cr in Q3 FY24. EBITDA margin at 23.8% in Q3FY25, ~160 bps improvement over 22.1% in Q3FY24. During the quarter, Raymond Realty launched a new residential tower in its Address by season 2.0 Thane project which received an overwhelming response. Further we also witnessed continued traction in our Park Avenue – High Street Reimagined Retail project launched in the previous quarter. This is first of its kind high street retail in Thane that will host premium aspirational brands.

Raymond Realty continues to focus on delivering projects within committed timelines. Given our track record of delivering projects ahead of timelines, which was well appreciated by our customers and resulted in increased customer confidence. Total potential revenue from our current Real Estate Business is ₹ 32,000 Cr+, which includes ₹ 25,000 Cr+ from our Thane Land parcel and ₹ 7,000 Cr+ from 4 separate JDA’s.

Engineering Business:

Segment's sales stood at ₹ 433 Cr in Q3FY25 compared to ₹ 217 Cr in Q3FY24. This performance includes the acquisition of MPPL, completed in March 2024. The auto components and the engineering consumable category were impacted due to sluggishness in export markets on account of weak demand and geopolitical issues. During the quarter, the business reported an EBITDA margin at 12.0% lower as compared to 13.8% in Q3FY24 mainly due to changes in the product mix. The aerospace business is expected to grow post resolution of production issues faced by one of the largest aircraft manufacturer leading to delays in order.