Raymond Realty Q3 Results: Revenue, profit rise, margins impacted by launch costs

Raymond Realty Ltd reported a steady performance in the third quarter of FY26, with profit and revenue rising sequentially, even as operating margins came under pressure due to higher launch-related costs.

The company’s net profit increased 11% quarter-on-quarter to ₹66.8 crore, compared with ₹60.2 crore in the previous quarter. Revenue rose 8.8% QoQ to ₹757.5 crore from ₹696 crore.

EBITDA stood at ₹91.2 crore during the quarter, marginally lower than ₹91.7 crore in Q2FY26, while operating margins declined to 12% from 13.2% sequentially.

On a year-on-year basis, total income surged 56% to ₹766 crore in Q3 FY26 from ₹492 crore in the same quarter last year, reflecting healthy demand and strong execution across projects.

Commenting on the performance, Managing Director and CEO Harmohan Sahni said, “We delivered strong revenue growth during the quarter, reflecting healthy demand and successful execution of our new launches. Margins were temporarily impacted by upfront approval and marketing costs, which are essential investments to build scale and sustain long-term growth.”

He added that as projects mature, operating leverage is expected to drive a steady improvement in profitability.

Raymond Realty continues to scale its Thane land parcel, with around 55 acres currently under development, translating into approximately 5.8 million square feet of RERA carpet area and a potential revenue of about ₹13,200 crore. Of this, the company has already sold around ₹8,500 crore and collected approximately ₹6,700 crore.

The company is set to launch two additional projects in the coming quarter, including a TenX residential development focused on 2-BHK homes and a high-street retail project, aimed at strengthening and diversifying its portfolio.

For the first nine months of FY26, Raymond Realty reported booking value of ₹1,504 crore and customer collections of ₹1,210 crore. Total income for the period stood at ₹1,864 crore, compared with ₹1,580 crore in the year-ago period. The company said it remains on track to deliver 20% growth in booking value for the full year.

Post the earnings announcement, shares of Raymond Realty Ltd were trading 1.82% higher at ₹420.25 on the NSE, after hitting an intraday high of ₹444.40.