Whalesbook
Sales Bookings Ne Match Jeeta, Par Stock Ne Haar Maan Li?
So, Raymond Realty Ltd. ne March 2026 ko khatam hue quarter mein ₹1,519 Crore ki sales bookings report ki hain. Pichhle saal isi quarter mein yeh figure sirf ₹636 Crore tha, matlab seedha double se bhi zyada!
Aur poore fiscal year 2025-26 ki baat karein toh, company ki bookings 31% badh kar ₹3,023 Crore ho gayi, jo pichhle saal ₹2,314 Crore thi. Yeh growth MMR mein badhti hui demand aur company ke bade project pipeline ki wajah se hai, jismein future revenue ₹43,000 Crore ka hai. MMR, jo India ka sabse bada residential market hai, mein infrastructure upgrades jaise Mumbai Trans Harbour Link aur Navi Mumbai International Airport ke chalte demand aur badhne ki ummeed hai, especially premium segments mein.
Valuation Ka Confusion: Performance Achhi, Stock Girta Hua!
Sabse interesting baat yeh hai ki itni achhi bookings hone ke baad bhi, Raymond Realty ka stock market mein pichhad raha hai. April 2026 ki shuruaat mein, company ki market cap lagbhag ₹2,733 Crore hai aur Price-to-Earnings (P/E) ratio 18.6x chal raha hai.
Ab isko competitors se compare karo toh Godrej Properties ka P/E 30x, Oberoi Realty ka 23.6x, aur Prestige Estates Projects ka 77.08x hai. Matlab, Raymond Realty ka stock apne competitors ke comparison mein kaafi cheap lag raha hai, jisse lagta hai ki market ko company ki quality aur future earnings par thoda doubt hai.
Investors Ke Sawal Aur Stock Ka Khel
Itni strong sales bookings ke bawajood, Raymond Realty ko kaafi challenges face karne pad rahe hain. Stock pichhle ek saal mein 60% se bhi zyada gira hai, aur May 2025 mein Raymond Ltd. se demerger ke baad toh aur bhi zyada crash hua. Yeh sab dikhata hai ki investors ka confidence abhi build up nahi hua hai.
MoneyWorks4Me jaise analysts ne bhi company ko 'below average quality' aur 'weak price trend' wala bataya hai. Demerger ke baad pehle quarter (Q1FY26) mein company ne ₹16.5 Crore ka profit ₹374.4 Crore ki revenue par kamaya tha. Lekin, competitors jaise DLF, jinhone FY25 mein ₹4,357 Crore ka PAT ₹21,223 Crore ki bookings par kamaya, ke saamne Raymond Realty ka scale aur execution risk zyada lagta hai.
Future Kya Kehta Hai? Execution Hi Sab Kuch Hai!
MMR region mein apna bada project pipeline lekar, Raymond Realty demand ka fayda utha sakta hai, especially premium segments mein. Lekin asli khel ab bookings ko profitable revenue mein convert karne, execution sambhalne, aur investors ka trust jeetne ka hai. Jabki MMR mein housing demand achhi hai, company ko operational success aur market valuation ke beech ka gap fill karna hoga taaki shareholders ko fayda ho sake.