Raymond Realty Stock Surges 20% as Q4 Earnings Outshine Expectations

Raymond Realty Surges to Five-Month High on Strong Q4 Performance

Shares of Raymond Realty hit a five-month high of ₹569.60 apiece in Wednesday's trade, May 6, as investors were encouraged by the company's impressive performance in the March quarter. The company's strong financial growth in the quarter and the full financial year ended FY26 has sparked investor optimism.

Revenue from operations in Q4FY26 surged 51% year-on-year to ₹1,157 crore, compared with ₹766 crore in Q4FY25, reflecting healthy execution and sustained demand across its residential portfolio. At the operating level, EBITDA for the quarter rose 49% to ₹253 crore from ₹170 crore in the corresponding quarter last year. However, EBITDA margin moderated marginally to 21.5% in Q4FY26 from 22.1% in Q4FY25.

Net profit for the quarter came in at ₹161 crore, registering a robust 44% increase over ₹112 crore reported in the year-ago period. For the full financial year FY26, Raymond Realty maintained its growth trajectory, with revenue from operations rising 29% to ₹2,991 crore as against ₹2,320 crore in FY25. Annual EBITDA improved 13% to ₹495 crore from ₹437 crore in the previous fiscal, although EBITDA margin softened to 16.3% compared with 18.6% in FY25.

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The company recorded pre-sales of ₹1,519 crore in Q4 FY26 and ₹3,023 crore in FY26, driven by robust demand across its ongoing as well as newly launched projects. Its collections during the reporting quarter improved to ₹515 crore from ₹496 crore in the same period last year. However, on a full-year basis, collections moderated to ₹1,725 crore in FY26 from ₹1,887 crore in FY25.

The company's total portfolio has now expanded to nearly ₹42,000 crore in Gross Development Value (GDV). Its 100-acre Thane land parcel continues to remain the cornerstone of growth, carrying an estimated revenue potential of ₹25,000 crore. Meanwhile, its JDA portfolio has emerged as the structural pivot for asset-light growth and now comprises seven projects with a combined revenue potential of nearly ₹17,000 crore.

During Q4, the company also successfully introduced a new Ten X–District 9 residential development focused on 2-BHK homes, along with Park Street, a high-street retail destination. With today's rise, the stock has jumped 28% in just four trading sessions of May, building on a strong 18% gain in April, taking the cumulative gain of 51%. The stock had struggled to gain footing since its demerger from Raymond in July and closed six of the following eight months in the red, resulting in a cumulative decline of 38%. At current levels, the stock is still trading 46% below its one-year peak.

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