{"id":177892,"date":"2026-01-27T07:32:19","date_gmt":"2026-01-27T12:32:19","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=177892"},"modified":"2026-01-27T07:32:19","modified_gmt":"2026-01-27T12:32:19","slug":"raymond-realty-posts-strong-revenue-growth-in-december-quarter-but-margins-compress","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/raymond-realty-posts-strong-revenue-growth-in-december-quarter-but-margins-compress\/","title":{"rendered":"Raymond Realty Posts Strong Revenue Growth in December Quarter but Margins Compress"},"content":{"rendered":"\n<p><em>Quarterly income rose 56% year-on-year on new project launches and steady demand, while profitability declined due to product mix and higher launch-related costs. The company continues to expand its joint development pipeline to rebalance its portfolio.<\/em><\/p>\n\n\n\n<p>Raymond Realty Limited (NSE: RAYMONDREL) reported a sharp increase in revenue for the quarter ended December 31, 2025, supported by new project launches and sustained housing demand in the Mumbai metropolitan region, though operating margins declined compared with a year earlier.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Strong Q3 Growth<\/strong><\/h2>\n\n\n\n<p>The real estate developer posted total income of \u20b9766 crore in the December quarter, up 56% from \u20b9492 crore in the same period last year. Growth was driven by execution of its development pipeline and contributions from recently launched projects, including its second joint development agreement (JDA) project, Invictus by GS in the Bandra Kurla Complex.<\/p>\n\n\n\n<p>During the quarter, the company also outlined a robust launch pipeline for the March quarter, aimed at accelerating pre-sales momentum and expanding market share.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"903\" height=\"491\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-82.png\" alt=\"\" class=\"wp-image-177893\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-82.png 903w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-82-300x163.png 300w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-82-768x418.png 768w\" sizes=\"auto, (max-width: 903px) 100vw, 903px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Revenue Grew Amid Margin and Profit Pressure<\/strong><\/h2>\n\n\n\n<p>Despite higher revenue, earnings before interest, tax, depreciation and amortisation (EBITDA) declined to \u20b9100 crore from \u20b9105 crore a year earlier. EBITDA margin fell to 13.0% from 21.4% in the December 2024 quarter, reflecting the impact of product mix and higher upfront marketing and approval costs associated with new launches.<\/p>\n\n\n\n<p>Profit before tax, excluding exceptional items, stood at \u20b977 crore, down 13% year-on-year. For the nine months ended December 2025, total income increased 18% to \u20b91,864 crore, while EBITDA declined 9% to \u20b9242 crore. The company reported net debt of \u20b9230 crore as of the end of the quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Raymond Realty Targets \u20b940,000 Crore Potential Revenue via JDA Expansion<\/strong><\/h2>\n\n\n\n<p>Raymond Realty is pursuing a strategic shift toward an asset-light JDA-led model. The company aims for JDAs to contribute about 50% of booking value within the next two to three years, compared with 22% in the previous portfolio mix. It currently has six JDAs in its portfolio, with two under development and four additional launches planned over the next 9 to 12 months.<\/p>\n\n\n\n<p>The company estimates total potential revenue of about \u20b940,000 crore from its existing real estate portfolio, including approximately \u20b925,000 crore from its Thane land parcel and around \u20b914,000 crore from JDA projects.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Industry Trends and Raymond Realty\u2019s Growth Approach<\/strong> <\/h2>\n\n\n\n<p>India\u2019s residential real estate sector has continued to see demand in premium and mid-income segments, particularly in major urban markets such as Mumbai. Developers have increasingly turned to joint development structures to limit capital intensity and manage balance sheet risk. Against this backdrop, Raymond Realty\u2019s focus on JDAs and diversified launches aligns with broader industry trends, even as near-term margins remain sensitive to launch costs and execution timelines.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quarterly income rose 56% year-on-year on new project launches and steady demand, while profitability declined due to product mix and higher launch-related costs. The company continues to expand its joint development pipeline to rebalance its portfolio. Raymond Realty Limited (NSE: RAYMONDREL) reported a sharp increase in revenue for the quarter ended December 31, 2025, supported [&hellip;]<\/p>\n","protected":false},"author":2380,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[392,1941,11809],"tags":[11487],"class_list":["post-177892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings","category-stock-analysis","category-realty","tag-realty"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":177074,"url":"https:\/\/alphastreet.com\/india\/oberoi-realty-reports-q3-fy26-revenue-of-%e2%82%b91561-7-crore-profit-of-%e2%82%b9622-5-crore\/","url_meta":{"origin":177892,"position":0},"title":"Oberoi Realty reports Q3 FY26 revenue of \u20b91,561.7 crore, profit of \u20b9622.5 crore","author":"Staff Correspondent","date":"January 20, 2026","format":false,"excerpt":"Oberoi Realty Ltd (BSE: 533273\/NSE: OBEROIRLTY) reported consolidated revenue of \u20b91,561.7 crore and profit after tax of \u20b9622.5 crore for the third quarter ended December 2025, according to its earnings release. Revenue rose from \u20b91,460.3 crore in the corresponding quarter a year earlier, while profit was broadly stable compared with\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":180005,"url":"https:\/\/alphastreet.com\/india\/sri-lotus-developers-and-realty-limited-reports-strong-q3-fy26-pre-sales-growth-revenue-and-profit-rise\/","url_meta":{"origin":177892,"position":1},"title":"Sri Lotus Developers and Realty Limited reports strong Q3 FY26 pre-sales growth; revenue and profit rise","author":"Staff Correspondent","date":"February 9, 2026","format":false,"excerpt":"Sri Lotus Developers and Realty Limited (NSE: LOTUSDEV, BSE: 544469) reported strong operating and financial performance for the quarter and nine months ended Dec. 31, 2025, supported by sharp growth in pre-sales, higher revenue and improved profitability, according to the company\u2019s Q3 FY26 investor presentation. Q3 FY26 performance Pre-sales for\u2026","rel":"","context":"In &quot;Analysis&quot;","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":177432,"url":"https:\/\/alphastreet.com\/india\/dlf-ltd-reports-steady-earnings-and-achieves-net-cash-position-in-q3-fy26\/","url_meta":{"origin":177892,"position":2},"title":"DLF Ltd reports steady earnings and achieves net cash position in Q3 FY26","author":"Staff Correspondent","date":"January 23, 2026","format":false,"excerpt":"DLF Ltd reported stable operating performance for the quarter ended December 31, 2025 (Q3 FY26), supported by strong cash collections and continued balance sheet improvement. The real estate developer said it ended the quarter with a net cash position, reflecting sustained operating cash flows and disciplined capital management. DLF operates\u2026","rel":"","context":"In &quot;Realty&quot;","block_context":{"text":"Realty","link":"https:\/\/alphastreet.com\/india\/category\/realty\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":147827,"url":"https:\/\/alphastreet.com\/india\/sunteck-realty-ltd-q4fy23-results-out-revenue-drops-by-68\/","url_meta":{"origin":177892,"position":3},"title":"Sunteck Realty Ltd Q4FY23 results out, revenue drops by 68%","author":"Chirag Gupta","date":"May 31, 2023","format":false,"excerpt":"Sunteck Realty Limited is a Mumbai-based real estate developer focused on developing premium residential and commercial properties across Mumbai Metropolitan Region (MMR). The company is one of the largest developers in the Western Suburbs of MMR from Bandra to Virar with ~20 mn sq ft of balance launch pipeline. It\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":178160,"url":"https:\/\/alphastreet.com\/india\/sunteck-realty-limited-reports-q3-fy26-financial-results-and-strategic-expansion-of-mumbai-portfolio\/","url_meta":{"origin":177892,"position":4},"title":"Sunteck Realty Limited Reports Q3 FY26 Financial Results and Strategic Expansion of Mumbai Portfolio","author":"Staff Correspondent","date":"January 28, 2026","format":false,"excerpt":"Sunteck Realty Limited announced Q3 FY26 (Dec 2025) earnings on January 27, 2026, reporting net sales of \u20b9344 crore (up 113% YoY) and net profit of \u20b957 crore (up 34% YoY, EPS \u20b93.97). Post-announcement, the stock surged over 5% intraday to hit \u20b9389.90 (closing ~\u20b9370-390 from prior \u20b9369.70), with market\u2026","rel":"","context":"In &quot;Analysis&quot;","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":171535,"url":"https:\/\/alphastreet.com\/india\/oberoi-realty-q2-fy26-earnings-results\/","url_meta":{"origin":177892,"position":5},"title":"Oberoi Realty Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 15, 2025","format":false,"excerpt":"Oberoi Realty Ltd is a real estate development company, headquartered in Mumbai. It is the part of Oberoi Realty Group, focused on developments in the residential, office space, retail, hospitality, and social infrastructure verticals. Presenting below are its Q2 FY26 earnings results. \u00a0 Q2 FY26 Earnings Results Revenue from Operations:\u00a0\u20b91,779\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Oberoi Realty Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Oberoi-Realty-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Oberoi-Realty-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Oberoi-Realty-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Oberoi-Realty-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Oberoi-Realty-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Oberoi-Realty-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2380"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=177892"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177892\/revisions"}],"predecessor-version":[{"id":177894,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/177892\/revisions\/177894"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=177892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=177892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=177892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}