Bengaluru : Raymond Limited today announced its unaudited financial results for the quarter ended 30th September, 2024.
Raymond Limited continued its growth momentum, delivering a robust performance with consolidated quarterly revenue from Real Estate and Engineering business of ₹ 1,101 Cr, reflecting a ~ 115 % increase compared to the same quarter of the previous financial year, and an EBITDA of ₹ 172 Cr with an EBITDA margin of 15.6 %.
Commenting on the performance, Gautam Hari Singhania, Chairman C Managing Director, Raymond Limited said; “We witnessed good momentum both in Real Estate and Engineering businesses. With the launch of Park Avenue- High Street Reimagined, the first of its kind retail space in Thane, Raymond Realty has taken yet another pioneering step to create the aspirational ecosystem for its current and upcoming residential projects. The project execution remains our USP as our endeavor is to continue to deliver before RERA timelines. The seamless integration of Maini operations with JK Engineering has taken an affirmative shape and has started positive results with growth in the overall engineering business.”
Q2FY25 Segmental Performance
Real Estate Business:
In a stated strategy to sell and construct fast leading to quick project completion and faster revenue generation, Raymond Realty posted yet another strong quarter with a revenue of ₹ 571 Cr in Q2 FY25 from ₹243 Cr in Q2FY24 recording a solid growth of 135%. The segment reported an EBITDA of
₹112 Cr in Q2 FY25 from ₹47 Cr in Q2 FY24.
During the quarter, Raymond Realty launched Park Avenue – High Street Reimagined Retail with RERA carpet area of 0.08 Mn sq ft in the month of September 2024. The first of its kind high street retail in Thane received an overwhelming response. The project 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. In Q2 FY25, the company achieved a strong booking value of
₹ 562 Cr, primarily driven by demand for ‘TenX ERA’, Sale of Retail shops in Thane and in JDA ‘The Address by GS’ in Bandra. 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 JDA led business model.
Engineering Business:
Segment reported sales of ₹ 443 Cr in Q2 FY25, doubling revenue compared to ₹201 Cr in the same quarter of the previous year. Revenue for Q2 FY25 includes revenue from MPPL of ₹ 225 Cr, which was acquired in March 24. The segment delivered an EBITDA margin of 11.0% in Q2 FY25. The performance was driven by support from the domestic markets for Flex plates, Ring Gear C Shaft Bearings categories. However, our exports were sluggish on account of weak demand and geopolitical issues.
Raymond Limited to remain a Net Cash Surplus company with a cash of ₹ 685 Cr available for future growth.
