Raymond: Stock to turn ex-date for Raymond Realty spin off today

Shares of Raymond Ltd will be in focus on Wednesday, May 14, as the stock turns ex-date for demerger of the real estate business -- Raymond Realty. 

To recall, the demerger of Raymond Realty Limited (RRL) was completed on May 1. Today is the record date for the purpose of determining the eligible shareholders of Raymond to whom the equity shares of the Raymond Realty would be allotted in terms of the scheme. The real estate business is expected to be listed in the September quarter of FY26. 

According to the scheme of arrangements, each shareholder of Raymond will receive one share of Raymond Realty for every share held in Raymond.

During the March quarter, the Real Estate business delivered a revenue of Rs 766 crore, up 13 per cent over Rs 677 crore in the corresponding quarter last year. The business reported an Ebitda of Rs 194 crore in
Q4 FY25 against Rs 171 crore YoY. The Ebitda margin for the business came in at 25.3 per cent in Q4FY25. 

In a filing to stock exchanges, Raymond said the business continued to focus on delivering projects within committed timelines.

In Q4, the business signed two new JDA’s in Mahim and Wadala, aggregating to a gross development value (GDV) of Rs 6,800 crore. Both these projects are seen contributing substantially to future growth and solidify the realtor's presence as a key player in the MMR region. 

"With these additions the total potential revenue from our current Real Estate Business is now close to Rs 40,000 crore, which includes Rs 25,000 crore  from our Thane Land parcel and Rs 14,000 Cr from JDA led model," Raymond said recently.

In Q4 FY25, Raymond Realty achieved a booking value of Rs 636 crore, primarily driven by demand for The Address by GS 2.0, Invictus & Park
Avenue – High Street Retail in Thane and in JDA 'The Address by GS' in Bandra.

The Real Estate business will also be net cash surplus with Rs 399 crore

"This strategic move emphasises our commitment to drive sustainable growth via pure play business and further enhance shareholder value. We continue to expand our portfolio through the JDA route in this quarter, having signed two additional JDA’s, in Mahim and Wadala aggregating to Rs 6,800 crore, with this now we have a total of six projects outside our Thane Land," Chairman and MD Gautam Hari Singhania said.