Aisa kaise hua? JDA Model ka Jaadu!
Asal mein, Raymond Realty ka ye badhiya performance unke asset-light JDA (Joint Development Agreement) model ki wajah se hai. Is strategy se company kam paisa laga kar zyada projects handle kar paa rahi hai, aur debt bhi control mein hai.
Numbers Check: Profit aur Revenue ki Toofani Tezi!
Q4 mein net profit ₹161 crore pe pahuncha, jo pichhle quarter ke ₹67 crore se ek bada jump hai. Revenue bhi 52.7% badh kar ₹1,156.8 crore ho gaya. EBITDA toh ₹234.3 crore pe pahunch gaya (pichhle quarter mein ₹91.5 crore tha), jiske baad margins bhi 20.3% ho gaye (pehle 12.1% the).
Portfolio Bada, Dividend Bhi Aaya!
Is JDA strategy ne company ka Gross Development Value (GDV) portfolio ₹42,000 crore tak pahuncha diya hai. Ek naya ₹3,000 crore ka JDA project bhi iss quarter mein judd gaya. Aur khushkhabri yeh hai ki, company ne FY26 ke liye ₹2 per share ka dividend bhi propose kiya hai!
CEO kya keh rahe hain?
CEO Harmohan Sahni ka kehna hai ki FY26 mein company full speed mein execution karegi. Q4 mein hui ₹1,519 crore ki pre-sales dikhati hai ki market mein unke projects ki demand tagdi hai.
Competitors se Alag Kaise?
Raymond Realty ki JDA-focused strategy, especially Mumbai mein, unko DLF, Prestige Estates Projects, aur Godrej Properties jaise bade players se alag banati hai. Yeh model unko capital efficiency aur fast scaling mein help karta hai.
Risks Ko Bhi Dekhte Hain!
Par haan, sirf JDA pe depend rehna thoda risky ho sakta hai. Landowners ke saath delays ya disputes ka dar rehta hai. Agar ₹43,000 crore ka GDV pipeline cash mein convert karna hai toh execution ekdum mast honi chahiye. Dividend shareholders ke liye achha hai, par yeh capital ko JDA acquisitions ya construction se divert bhi kar sakta hai. Sector cyclical hai, toh market slowdown ka risk bhi hamesha rehta hai.
