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 robust revenue growth, EBITDA for Q3 FY26 was ₹100 crore, a marginal decrease from ₹105 crore in Q3 FY25, with EBITDA margins at 13.0% compared to 21.4% in the prior year. This dip in margins was attributed to a product mix and higher upfront marketing costs associated with new launches. Profit Before Tax (PBT) before exceptional items was ₹77 crore in Q3 FY26, down from ₹89 crore in Q3 FY25. Commenting on the performance, Mr. Harmohan Sahni, Managing Director & CEO, stated that the company is positioned to capture significant operating leverage as projects mature, expecting a steady normalization and expansion of margins. Key highlights for the period include the launch of the second JDA project, Invictus by GS – BKC, and a strategic aim to have JDA projects contribute 50% of annual pre-sales within the next 2 to 3 years. The company also noted a total potential revenue of approximately ₹40,000 crore from its current real estate business, including a 100-acre Thane land parcel with potential revenue of ₹25,000 crore and six JDA's with a potential revenue of ₹14,000 crore. Raymond Realty Limited has a Net Debt of ₹230 crore.
