Latest news with #HarmohanSahni
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Business Standard
3 days ago
- Business
- Business Standard
Raymond Realty shares see worst session since listing; here's why
Shares of Raymond Realty saw their worst session since listing on the bourses as the stock fell over 8 per cent even after its profits more than doubled. The realty company's stock fell as much as 8.47 per cent during the day to ₹663.2 per share, the biggest intraday fall since its listing on July 1 this year, post its demerger with its parent. The stock was trading 7.8 per cent lower at ₹668.1 apiece, compared to a 0.16 per cent advance in Nifty 50 as of 1:45 PM. Shares of the company snapped a two-day gaining streak and currently trade at 2.4 times the average 30-day trading volume, according to Bloomberg. Since its listing in July, the stock has fallen by over 32 per cent, compared to a 3.8 per cent decline in the benchmark Nifty50. Raymond Realty has a total market capitalisation of ₹4,474.09 crore. Raymond Realty Q1 results The Mumbai-based firm's consolidated net profit for the first quarter of 2025-26 (Q1FY26) surged by 121.8 per cent year-on-year (Y-o-Y) to ₹16.5 crore. In its first quarterly earnings since demerger from Raymond Ltd on May 1, the company's consolidated revenue for the quarter stood at ₹374.4 crore, up 188.7 per cent Y-o-Y. However, on a like-for-like basis (post-demerger), the revenue dropped by 23 per cent Y-o-Y. Meanwhile, its earnings before interest, taxes, depreciation, and amortisation (Ebitda) stood at ₹41 crore, down by 39 per cent Y-o-Y. "The main reason for Q1 (like-to-like performance) was that we had done a bumper Q3 and Q4 last year, and we were very low on inventory in Q1. The demand was very good, but we didn't have enough inventory to sell in Q1. We had to rush to get approvals and be ready for fresh launches," Harmohan Sahni, managing director (MD), Raymond Realty, said. Raymond Group demerger The demerger of Raymond Realty was completed on May 1, 2025, and the record date was May 14, 2025, for the purpose of determining the eligible shareholders of Raymond to whom the equity shares of Raymond Realty were to be allotted as per the terms of the Scheme. According to the scheme of arrangements, each shareholder of Raymond received one share of Raymond Realty for every share held in Raymond. About Raymond Realty Raymond Realty has cemented its position amongst the home buyers in the Mumbai Metropolitan Region (MMR). Raymond Realty stands as the crown jewel of the Group's transformation, a net debt-free, pure-play real estate entity that has rapidly ascended to become one of the Top 5 developers in the MMR.
Economic Times
3 days ago
- Business
- Economic Times
Raymond Realty shares in focus after Q1 profit more than doubles
Shares of Raymond Realty are likely to be in focus on Wednesday after the company reported a 121.8% year-on-year (YoY) surge in consolidated net profit for the first quarter of FY26, rising to Rs 16.5 crore from Rs 7.4 crore in Q1FY25. ADVERTISEMENT In its first earnings report since the demerger from Raymond on May 1, the company posted consolidated revenue of Rs 374.4 crore, up 188.7% YoY. However, on a like-to-like basis (post-demerger), revenue declined 23% YoY, while EBITDA dropped 39% YoY to Rs 41 crore. Explaining the dip, Managing Director Harmohan Sahni told Business Standard, 'We had done a bumper Q3 and Q4 last year and were low on inventory in Q1. Demand was strong, but we didn't have enough inventory to sell. We had to rush to get approvals for fresh launches.' Booking value stood at Rs 306 crore in Q1FY26, down from Rs 611 crore a year ago. Collections also declined to Rs 374 crore from Rs 483 crore in the same period. However, Sahni said pricing remained firm, with realisations up 5% Realty's current real estate portfolio has a potential revenue of Rs 40,000 crore, including Rs 25,000 crore from a 100-acre land parcel in Thane. The company is also developing six joint development agreement (JDA) projects with a revenue potential of Rs 14,000 crore. Also Read: PNB Housing Finance, RBL Bank among 10 small-cap stocks where FIIs increased stake in Q1 ADVERTISEMENT Raymond Realty shares technical indicators On the technical side, the stock's relative strength index (RSI) is at 31.9, indicating it is nearing the oversold zone. It is trading above its 5-day and 10-day simple moving averages but below the 20-day average. ADVERTISEMENT Raymond Realty share price performance Shares of Raymond Realty closed 4.4% higher at Rs 725.6 on Tuesday, even as the Sensex fell 0.38%. The stock is down 4% over the past two weeks and 22% in the last month. Market capitalisation stands at Rs 4,830 crore. Also Read: These 10 stocks delivered consistent dividend yields over the last 3 years ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
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Business Standard
4 days ago
- Business
- Business Standard
Raymond Realty Q1 results: Profit up 121.8%; revenue jumps 188.7%
Mumbai-based Raymond Realty's consolidated net profit for the first quarter of the financial year (Q1 FY26) surged by 121.8 per cent year-on-year (Y-o-Y) to Rs 16.5 crore. In its first quarterly earnings since its demerger from Raymond Ltd on 1 July, the company's consolidated revenue for the quarter stood at Rs 374.4 crore, up 188.7 per cent Y-o-Y. However, on a like-to-like basis (post-demerger), revenue dropped by 23 per cent Y-o-Y. Meanwhile, its earnings before interest, taxes, depreciation and amortisation (Ebitda) stood at Rs 41 crore, down 39 per cent Y-o-Y. Harmohan Sahni, managing director, Raymond Realty, told Business Standard: 'The main reason for Q1 (like-to-like performance) was that we had done a bumper Q3 and Q4 last year, and we were very low on inventory in Q1. The demand was very good, but we didn't have enough inventory to sell in Q1. We had to rush and get approvals and be ready for fresh launches.' Raymond Realty reported a booking value of Rs 306 crore in Q1 FY26 against bookings of Rs 611 crore in Q1 FY25. 'For us, bookings have been so good in the last three to four quarters that we were left with very little inventory in Q1. So, demand is pretty good, bookings are good, but we didn't have enough inventory to match the demand. We've had higher realisations compared to last year. Prices are almost up by 5 per cent compared to last year,' Sahni added. Raymond Realty's collections stood at Rs 374 crore in Q1 FY26 compared to Rs 483 crore in Q1 FY25. Additionally, the total potential revenue from the company's current real estate business is close to Rs 40,000 crore, which includes a 100-acre Thane land parcel with a revenue potential of Rs 25,000 crore. The company has been focusing on the joint development agreement (JDA) model of real estate business and has six JDA projects with a revenue potential of Rs 14,000 crore. Raymond Realty is a net cash surplus company with cash of Rs 233 crore. Its shares, listed on the Bombay Stock Exchange, closed at Rs 725.6 per equity share on Tuesday (5 August).
Time of India
01-07-2025
- Business
- Time of India
Raymond Realty set to list on exchanges, looks of over 20% annual growth
NEW DELHI: Raymond Realty (RRL), the real estate arm of Raymond Group , will list on Indian stock exchanges, following its demerger from Raymond. The listing is aimed at unlocking shareholder value by creating a focussed, net debt free pure-play real estate entity. Harmohan Sahni , MD & CEO of the company said, "With a net debt-free balance sheet, 100 acre of owned land, and a capital-efficient joint development model, we are well-positioned to sustain over 20% annual growth and industry-leading ROCE of over 20%." The company operates through three residential brands - TenX, The Address by GS and Invictus, owns 100 acre land and six joint development agreements and has an estimated gross development value of approximately ₹400 billion.
Time of India
01-07-2025
- Business
- Time of India
Raymond Realty listing: Shares open below discovered price; brokerages still bullish on long-term prospects
Shares of Raymond Realty listed on the BSE at Rs 1,005 and on the NSE at Rs 1,000 on Tuesday, marking a weaker debut than the discovered price of Rs 1,039.30 on the NSE and Rs 1,031.30 on the BSE. Tired of too many ads? go ad free now According to ET, the listing followed the real estate arm's demerger from Raymond Ltd, giving shareholders one Raymond Realty share for every Raymond Ltd share held, thus directly exposing them to the group's property business for the first time. Brokerages remain bullish despite the lower-than-expected opening. As reported by ET, Ventura Securities has pegged a target price of Rs 1,383 per share based on FY28 DCF projections, while SBI Securities values the stock between Rs 897 and Rs 1,430 depending on valuation multiples. SBI has assigned a base case fair value of Rs 1,148, assuming a 10 per cent YoY EBITDA growth in FY26 and a 13x EV/EBITDA multiple. Raymond Realty's flagship operations are centred on a 100-acre land parcel in Thane, of which 40 acres with 4 million sq ft carpet area are under active development, holding an estimated revenue potential of Rs 9,000 crore. The remaining 60 acres will be developed over the next 6–8 years, potentially adding Rs 16,000 crore in revenue. Combined, the Thane land bank carries a Gross Development Value (GDV) of Rs 25,000 crore. The company has also expanded through six Joint Development Agreements (JDAs) across Mumbai in Bandra, Mahim, Sion and Wadala. The JDA portfolio is expected to generate Rs 14,000 crore in revenue, with the model allowing Raymond Realty to skip land acquisition costs and focus on execution, a strategy that keeps its balance sheet light. Tired of too many ads? go ad free now Around 40–45 per cent of future revenues are expected to come from JDA projects over the next seven years, rising to 70 per cent in the long term. According to news agency PTI, chairman and MD Gautam Singhania emphasised financial discipline amid heated real estate pricing, stating, 'I will do a deal only if it delivers on financial returns.' CEO Harmohan Sahni reinforced this approach, saying the firm will not sign projects unless profit margins are at least 20 per cent. Sahni revealed that out of 1,400 projects evaluated, only six were finalised. For FY25, Raymond Realty posted a 45 per cent YoY increase in revenue to Rs 2,313 crore and a 37 per cent rise in EBITDA to Rs 507 crore. However, EBITDA margin declined slightly to 21.9 per cent. In Q4FY25, revenue was Rs 766 crore, EBITDA stood at Rs 194 crore, and pre-sales fell 24 per cent YoY to Rs 636 crore due to no new launches. The company ended FY25 with a net cash surplus of Rs 395 crore, supported by Rs 585 crore in cash and equivalents and gross debt of Rs 190 crore. Over FY25–28, it projects a CAGR of 20 per cent in revenue, 17 per cent in EBITDA, and 15.9 per cent in net earnings, with EBITDA and net margins expected to remain steady at 20 per cent and 10.5 per cent, respectively. Raymond Realty also aims to maintain a net-debt-free status and a RoE of 16.2 per cent by FY28. (Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India.)
