Raymond Realty Q3 FY26: Revenue up 56% YoY but margins under pressure
RAYMONDREL · price
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Raymond Realty reported consolidated total income of Rs 766 Cr in Q3 FY26 vs Rs 492 Cr in Q3 FY25, a 56% year-on-year jump. Nine-month income grew 18% to Rs 1,864 Cr. However, EBITDA fell to Rs 100 Cr (margin 13.0%) from Rs 105 Cr (21.4%) due to product mix and higher upfront marketing costs for new launches. PBT dropped 13% to Rs 77 Cr. Booking value slipped to Rs 1,504 Cr in 9M FY26 vs Rs 1,678 Cr. Net debt is Rs 230 Cr. This is the first quarterly print as a listed entity after the real estate demerger from Raymond Limited.
Strong revenue growth is offset by weaker margins and a dip in bookings, which may concern investors despite management guidance on upcoming launches.