By BullScreen Editorial Team 
Raymond Realty Limited reported strong growth in its Q4 results 2026, supported by rising housing demand, higher project sales, and expansion through joint development agreements (JDAs) in Mumbai. The company posted a sharp rise in revenue, pre-sales, and operational performance during both the March quarter and the full financial year ended March 31, 2026.
Total income for the fourth quarter stood at ₹1,176 crore, marking a 53% year-on-year increase. EBITDA came in at ₹253 crore with an EBITDA margin of 21.5%, reflecting improved profitability across ongoing residential projects. For the full FY26 period, total income reached ₹3,039 crore, while EBITDA stood at ₹495 crore.
A key highlight of the Q4 results 2026 was the strong jump in pre-sales. Quarterly pre-sales surged 139% year-on-year to ₹1,519 crore, while annual pre-sales reached ₹3,023 crore. Customer collections remained stable at ₹1,725 crore for FY26, indicating healthy cash flow management despite aggressive expansion plans.
The company said its portfolio now carries an estimated revenue potential of nearly ₹42,000 crore. Around ₹25,000 crore is linked to its Thane land bank, while another ₹17,000 crore is expected from JDA-led developments across Mumbai.
Raymond Realty has increasingly focused on an asset-light growth strategy through JDAs. The company is currently developing seven projects in Mumbai, mainly around the Bandra Kurla Complex (BKC) region. JDA projects contributed 55% of total pre-sales during FY26, achieving the company’s internal target nearly two years ahead of schedule.
Among key projects, Ten X Habitat in Thane is now 99% sold after the successful delivery of 10 towers. Other projects such as Ten X Era and The Address by GS in Thane also reported strong absorption levels of 90% and 98%, respectively. Projects in Bandra, Wadala, and BKC continued to witness gradual sales momentum.
Looking ahead, the company plans to launch four new projects in FY27, including developments in Mahim and Kandivali. Raymond Realty is targeting nearly 20% annual growth in revenue and pre-sales while maintaining a Return on Capital Employed (ROCE) target of around 20%.
The company’s net debt stood at ₹656 crore at the end of FY26. Raymond Realty also highlighted its ESG initiatives, including 100% EV transition for fuel consumption, 30% female workforce participation, and zero fatalities reported over the last five years.
| Metric | Q4 FY26 | FY26 | Growth/Insights |
|---|---|---|---|
| Total Income | ₹1,176 Cr | ₹3,039 Cr | Q4 income up 53% YoY |
| EBITDA | ₹253 Cr | ₹495 Cr | EBITDA Margin at 21.5% |
| Pre-Sales | ₹1,519 Cr | ₹3,023 Cr | Q4 pre-sales surged 139% YoY |
| Customer Collections | ₹515 Cr | ₹1,725 Cr | Strong collection discipline maintained |
| Net Debt | — | ₹656 Cr | Gross Debt ₹1,014 Cr; Cash ₹358 Cr |
| Project | Location | Sale Status |
|---|---|---|
| Ten X Habitat | Thane | 99% Sold |
| Ten X Era | Thane | 90% Sold |
| The Address by GS (S1) | Thane | 98% Sold |
| The Address by GS (S2) | Thane | 84% Sold |
| The Address by GS | Bandra | 62% Sold |
| The Address by GS | Wadala | 30% Sold |
| Invictus by GS | BKC | 38% Sold |
| Key Focus Area | Details |
|---|---|
| Total Portfolio Potential | ₹42,000 Cr Revenue Potential |
| Thane Land Bank | ₹25,000 Cr Potential |
| Mumbai JDA Projects | ₹17,000 Cr Potential |
| JDA Contribution | 55% of FY26 Pre-Sales |
| FY27 Planned Launches | 4 New Projects |
| Growth Target | ~20% Annual Revenue & Pre-Sales Growth |
| ROCE Target | Around 20% |
| ESG Highlights | 100% EV Transition, 30% Female Workforce, Zero Fatalities in 5 Years |
Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/67ba57d8-a312-4ce3-8a05-a0a9673e8238.pdf