Raymond Realty pre-sales rose 98% year-on-year to ₹902 crore in Q2 FY27, the company said in a BSE filing on October 5, 2026. Collections increased 67% to ₹682 crore during July–September 2026. The operational figures are provisional and subject to review.

The developer recorded the growth without launching any new projects during the quarter. It attributed sales momentum to sustained demand and steady price realisation across its existing Address by GS portfolio.

For the first half of FY27, pre-sales increased 111% to ₹1,602 crore from ₹760 crore a year earlier. Collections grew 57% to ₹1,233 crore, compared with ₹783 crore in H1 FY26.

Managing Director and CEO Harmohan Sahni attributed the quarterly performance to sustained sales at existing projects and continued homebuyer confidence. He said collection growth reflected the company's focus on cash flow efficiency.

Mahim launches planned for second half

Raymond Realty plans two joint development agreement project launches in Mahim during H2 FY27. The project schedule lists a combined gross development value of ₹4,100 crore and total RERA area of 0.80 million sq. ft.

  • Mahim 1: GDV of ₹1,800 crore and RERA area of 0.41 million sq. ft.
  • Mahim 2: GDV of ₹2,300 crore and RERA area of 0.39 million sq. ft.

During Q2, the company received the Occupation Certificate for Address by GS Season 1 Tower B in Thane, approximately 18 months before its proposed March 2028 RERA completion date. The tower comprises 270 units with total RERA carpet area of 3,44,478 sq. ft.

Borrowings and FY27 guidance

Gross borrowings increased by ₹125 crore during the quarter to ₹1,220 crore as of September 30, 2026, primarily to fund construction across projects launched in FY26. With liquidity of ₹306 crore, net debt stood at ₹914 crore. The company said its net debt-to-equity ratio remained well below the board-approved ceiling of 1.0x.

CARE reaffirmed its A+ rating with a Stable outlook, citing booking momentum, an improving launch pipeline and execution across existing projects.

Raymond Realty retained FY27 guidance of approximately 20% pre-sales growth, around 20% return on capital employed, EBITDA margin of 17–19% and PAT margin of 9–10%. Planned launches and guidance remain forward-looking and subject to regulatory approvals, market conditions and execution timelines.