Raymond Realty Limited announced its unaudited financial results for the third quarter and nine months ended December 31, 2025. The company reported a significant year-on-year growth in total income, reaching ₹766 crore in Q3 FY26, a 56% increase from ₹492 crore in Q3 FY25. For the nine-month period ended December 31, 2025, total income stood at ₹1,864 crore, up 18% from ₹1,580 crore in the corresponding period of the previous year. Despite the strong revenue growth, EBITDA margins were impacted. EBITDA for Q3 FY26 was ₹100 crore, a slight decrease from ₹105 crore in Q3 FY25, with EBITDA margins at 13.0% compared to 21.4% in the prior year. The company attributed this to a subdued product mix and higher upfront marketing costs associated with new launches. Profit Before Tax (PBT) before exceptional items also saw a decrease, standing at ₹77 crore in Q3 FY26 compared to ₹89 crore in Q3 FY25. Mr. Harmohan Sahni, Managing Director & CEO, Raymond Realty Limited, commented that the revenue growth reflects healthy demand and successful execution of new launches. He noted that margins were temporarily impacted by upfront approval and marketing costs, which are essential investments for building scale and sustaining long-term growth. As these projects mature, the company expects operating leverage to drive a steady improvement in profitability. Key highlights for the period include the launch of the second JDA Project, Invictus by GS – BKC, and a robust Q4 launch pipeline. The company is strategically shifting its portfolio mix, aiming for JDA projects to contribute 50% of booking value within the next 2 to 3 years. Booking value for 9M FY26 was ₹1,504 crore, while customer collections were ₹1,210 crore. The company is on track to achieve 20% growth in booking value for the full year. Raymond Realty has a net debt of ₹230 crore. The total potential revenue from its current real estate business is estimated to be around ₹40,000 crore.
