Raymond Realty reported a strong Q1 FY27 with pre-sales jumping 129% year-on-year to ₹700 crore and collections rising 47% to ₹550 crore. The growth was driven by existing projects, not new launches.
Raymond Realty's Stellar Q1 FY27: Pre-Sales Skyrocket 129% to ₹700 Cr
Q1 FY27 Pre-Sales: ₹700 Cr (up 129% YoY)
Q1 FY27 Collections: ₹550 Cr (up 47% YoY)
Reader Takeaway: Strong organic demand; increased borrowing for project execution.
What just happened
Raymond Realty reported exceptional growth in the first quarter of fiscal year 2027 (Q1 FY27). Pre-sales, a key metric for real estate developers, surged by 129% year-on-year to ₹700 crore. Collections from customers also saw a significant increase of 47%, reaching ₹550 crore. The company achieved this strong performance without launching new residential projects during the quarter.
Why this matters
This impressive sales growth indicates robust demand for Raymond Realty's existing projects, particularly in the Mumbai Metropolitan Region (MMR). The substantial rise in collections suggests healthy cash flow generation, crucial for funding ongoing construction and operations. The reaffirmation of EBITDA margin guidance provides clarity on expected profitability for the fiscal year.
The backstory
Raymond Realty's performance in Q1 FY27 is built on the sustained momentum of its existing portfolios. The company has leveraged favorable price realization within the MMR to drive sales. Despite the absence of new project launches, the company focused on maximizing sales from its current offerings.
What changes now
With the Q1 results, Raymond Realty has set a strong pace for FY27. The company is focused on executing projects initiated in FY26, utilizing new borrowings for construction and working capital. Management's outlook suggests a continued emphasis on margin guidance and financial discipline.
Risks to watch
Investors should closely monitor the company's increasing debt levels, which rose to ₹1,097 crore from ₹380 crore year-on-year, driven by project-specific borrowing. While the Net Debt/Equity ratio remains below 1.0x, the significant increase in debt requires careful observation regarding repayment capacity and interest costs. The sustainability of sales growth without new launches will also be a key factor.
Peer comparison
While specific peer data is not provided in the filing, Raymond Realty's 129% YoY pre-sales growth outpaces the typical performance seen in the broader real estate sector, especially in a quarter without new launches. This suggests strong execution and market positioning within its operational geographies.
Context metrics (time-bound)
As of June 30, 2026, Raymond Realty's total outstanding borrowings stood at ₹1,097 crore. Liquidity was ₹270 crore, resulting in a net debt position of ₹827 crore. The company aims to maintain its EBITDA margin guidance of 17%-19% for FY27.
What to track next
Investors will be watching for updates on new project launches, further sales velocity across existing projects, and the normalization of EBITDA margins as construction progresses and revenue recognition milestones are met. Monitoring debt levels and repayment schedules will also be critical.