Raymond Ltd on Wednesday reported a 75 per cent year-on-year (YoY) rise in net profit from the continuing operations at Rs 72.28 crore for the December quarter compared with Rs 41.35 crore in the same quarter last year. This is on an adjusted basis, excluding the discontinued operations from base, as the Lifestyle business is now a separate entity.
Total revenue for Real Estate and Engineering businesses grew 36 per cent YoY to Rs 985 crore for the quarter from Rs 727 crore in the year-ago quarter. Ebitda for the quarter rose 33 per cent to Rs 169 crore from 127 crore YoY. Ebitda margin fell 30 basis points to 17.2 per cent from 17.5 per cent. PBT before exception items rose 14 per cent to Rs 100 crore from Rs 87 crore. This includes MPPL acquisition completed in March 2024. Raymond's lifestyle business was demerged in July last year.
Raymond said its real estate business continues to perform well and the company achieved a booking value of Rs 505 crore in the December quarter, primarily driven by demand for The Address by GS 2.0, 'TenX ERA', sale of retail shops in Thane and in JDA 'The Address by GS' in Bandra. Raymond continues to be a net cash surplus company with Rs 696 crore available for future growth, it said.
Gautam Hari Singhania, Chairman & Managing Director at Raymond Limited said the company witnessed continued growth momentum in real estate business, with a strong booking value on account of successful launch of a new residential tower and continued traction in high street retail shops on our Thane land.
"Additionally, we remain optimistic about the future of our Engineering business, particularly in the aerospace sector, where we foresee significant growth opportunities. As we enter the last quarter of the financial year, we remain optimistic about the growth trends across businesses and we are confident in our ability to deliver sustained value to our stakeholders," he said.
Real Estate Business Raymond Realty reported 11 per cent growth in sales at Rs 488 crore in Q3 FY25 against Rs 439 crore . The segment reported an Ebitda of Rs 116 crore from Rs 97 crore YoY. Ebitda margin came in at 23.8 per cent in Q3FY25, up 160 bps improvement over 22.1 per cent in Q3FY24.
During the quarter, Raymond Realty launched a new residential tower in its Address by season 2.0 Thane project which received good response.
"Further we also witnessed continued traction in our Park Avenue – High Street Reimagined Retail project launched in the previous quarter. This is first of its kind high street retail in Thane that will host premium aspirational brands. Raymond Realty continues to focus on delivering projects within committed timelines," Raymond said.
It said the total potential revenue from its current Real Estate Business is Rs 32,000 crore-plus, which includes Rs 25,000 crore from its Thane land parcel and Rs 7,000 crore from 4 separate JDAs.
Engineering Business This segment's recorded sales of 433 crore against Rs 217 crore YoY. This performance includes the acquisition of MPPL, completed in March 2024. The auto components and the engineering consumable category were impacted due to sluggishness in export markets on account of weak demand and geopolitical issues.
"During the quarter, the business reported an Ebitda margin at 12.0 per cent lower as compared to 13.8 per cent in Q3FY24 mainly due to changes in the product mix. The aerospace business is expected to grow post resolution of production issues faced by one of the largest aircraft manufacturer leading to delays in order," it said.