Raymond Realty Limited · NSE:RAYMONDREL
Raymond Realty — Q2FY26 Earnings Presentation
47 slides from Raymond Realty's earnings presentation, Oct 28, 2025
Slide 1: Exchange filing cover letter
RAYMOND REALTY LIMITED RRL/SE/25-26/24 October 28, 2025 To, The Department of Corporate Services – CRD, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, 5th Floor, P.J. Towers, Dalal Street, Bandra-Kurla Complex, Mumbai - 400 001. Bandra (East), Mumbai - 400 051. Scrip Code: 54
Slide 2: Results Presentation Q2FY26 & H1FY26
RESULTS PRESENTATION Q2FY26 & H1FY26 | October 28, 2025
Slide 3: Table of Contents
Table of Contents 1 Highlights 3-5 4 Financials 20-25 2 Business Overview 6-8 5 Management Team 26-30 3 Portfolio Overview 9-19 6 Annexures 31-44
Slide 4: Highlights
| Highlights Raymond re,
Slide 5: Q2FY26 & H1FY26 Highlights
Q2FY26 & H1FY26 Highlights Recorded a pre-sales of ₹ 455 Cr. in Q2FY26 and ₹ 760 Cr. in H1FY26 - driven by robust Pre-Sales demand across ongoing projects Maintained strong financial discipline with collections of ₹ 409 Cr. in Q2FY26 and ₹ 783 Cr. in Collections H1FY26 Total Income of ₹ 706 Cr. in Q
Slide 6: Q2FY26 & H1FY26 Performance Snapshot
Q2FY26 & H1FY26 Performance Snapshot TOTAL INCOME EBITDA & MARGIN (%) 16% 15% 1,087 1098 14% 13% 11% 706 589 162 392 143 95 101 41 Q2FY25 Q1FY26 Q2FY26 H1FY25 H1FY26 Q2FY25 Q1FY26 Q2FY26 H1FY25 H1FY26 PRE SALES COLLECTIONS 1,173 959 783 760 562 476 455 374 409 306 Q2FY25 Q1FY26 Q2FY26 H1FY25 H1FY26
Slide 7: Business Overview
| Business Overview RAYMON|REALty
Slide 8: Raymond Realty: Journey and Launches So Far
Raymond Raymond Realty:Realty Journey Journey and Launches So Far Additional Projects in THANE • Ten X Era Additional Projects in THANE 1st Project in THANE • Address by GS - Season 2 • Address by GS - Season 3 Ten X Habitat • Invictus by GS - Tower A • Invictus by GS - Tower B 2019 2023 2025 2021 2
Slide 9: Leading the Market: Key Achievements & Enablers
Leading the Market: Key Achievements & Enablers Amongst Top 10 Portfolio in Aspirational to Listed Developers in Country Premium Segment Strong Promoter Commitment Amongst Top 5 Delivered 8 Towers years Listed Developers in MMR* Ahead of RERA Timeline Strong Execution Team Every 3rd House Sold in Th
Slide 10: Portfolio Overview
| Portfolio Overview RAYMON|REALty
Slide 11: Brand Portfolio: Creating Product Brands in a Commoditized Industry
Brand Portfolio: Creating Product Brands in a Commoditized Industry Aspirational Premium Luxury 10
Slide 12: Shape & Size of the Current Portfolio
Shape & Size of the Current Portfolio 100 Acre Land Parcel Signed 6 JDA Projects Bandra 1 Ongoing Ongoing Shape & Size of the Development Expected Launch in Bandra 2 ~55 Acres Thane Land Q3FY26 ~ ₹ 25,000 Cr Current Portfolio Wadala JDA's Upcoming Mahim 1 ~ ₹ 14,000 Cr Development Sion ~45 Acres Mah
Slide 13: Upcoming Infrastructure in Thane
Upcoming Infrastructure in THANE 12
Slide 14: Shape & Size of the Current Portfolio: Thane Land
Shape & Size of the Current Portfolio: THANE LAND OWN LAND in THANE (~100 Acre) with a Potential Revenue of ~ ₹25,000 Cr CURRENT DEVELOPMENT POTENTIAL DEVELOPMENT RERA CARPET AREA RERA CARPET AREA ~5.8 MN SQ.FT . ~5.6 MN SQ.FT . Potential Revenue Potential Revenue ~ ₹ 13,200 Cr ~ ₹ 11,800 Cr DELIVER
Slide 15: New Launches in Thane: Address by GS (S3)
New Launches in THANE: Address by GS (S3) KEY HIGHLIGHTS: • 4 towers offering premium 3, 4, 5 & 6 BHK apartments – one tower recently unveiled • Podium top landscape amenities • ~14,500 sq.ft. of High Street Retail PROJECT STATUS: • Tower (F) – Launched Total Rera Carpet Area: ~1.5 msf 14
Slide 16: New Launches in Thane: Invictus by GS (Tower B)
New Launches in THANE: Invictus by GS (Tower B) KEY HIGHLIGHTS: • 4.5 - Bed home spaces • Exclusive Tower Amenities PROJECT STATUS: • Tower (B) – Launched Total Rera Carpet Area: ~0.3 msf 15
Slide 17: Shape & Size of the Current Portfolio: JDA's
Shape & Size of the Current Portfolio: JDA’s JDA LED BUSINESS MODEL Asset Light Expansion with a Gross BANDRA 1 Development Value (GDV) of ~ ₹14,000 Cr. (Revenue Potential ~ ₹ 2000cr) BANDRA 2 (Revenue Potential ~ ₹ 2000cr) APPOINTED Developer for 6 projects across Mumbai MAHIM 1 (Revenue Potential
Slide 18: Future Project Trajectory
Future Project Trajectory Launches planned for the year 2025-26 • 2 New Projects on own land - Thane • 3 to 4 New JDA Projects - Mumbai 22% Thane 50% 50% JDA's 78% FY25 FY28 JDA projects expected to be 50% of annual pre-sales within 2 to 3 years 17
Slide 19: Constructing Success: Summarising the Strategy
Constructing Success: Summarising the Strategy Continued focus on MMR/ Pune Market Annual Growth ~20% JDA Led Capital Light Business Model ROCE ~20% Creating product brands Operational Intensity 18
Slide 20: ESG (Environment, Social, and Governance)
ESG (Environment, Social, and Governance) ENVIRONMENT (E) SOCIAL (S) GOVERNANCE (G) ✓ Ensured that no operations or ✓ Zero Fatalities reported for 5 years ✓ Board members with rich and diverse construction occur in ecologically ✓ Women-Brigade Initiative to empower experience, safeguarding & ensurin
Slide 21: Financials
| Financials RayMond |rearty
Slide 22: Like-to-Like comparison: Post Demerger
Like-to-Like comparison: Post Demerger Q2FY26 & H1FY26 In ₹ Crores Profit & Loss Statement Q2FY26 Q1FY26 Q2FY25 * YoY Change H1FY26 H1FY25 * YoY Change Revenue from operations 697 374 573 22% 1,071 1,060 1% Other income 9 18 16 27 27 Total Income 706 392 589 20% 1,098 1,087 1% Expenses 605 351 494 9
Slide 23: Like-to-Like comparison: Post Demerger
Like-to-Like comparison: Post Demerger H1FY26 In ₹ Crores Balance Sheet (Abridged) H1FY26 * H1FY25** Non-Current Assets 430 289 Current Assets 4,155 2,285 Total Assets 4,585 2,574 Equity 1,342 607 Non-Current Liabilities 1,762 792 Current Liabilities 1,481 1,175 Total Liabilities 4,585 2,574 * These
Slide 24: Like-to-Like comparison: Post Demerger
Like-to-Like comparison: Post Demerger H1FY26 In ₹ Crores Cash Flows H1FY26 H1FY25 * Opening Balance 600 579 Total Inflow 792 961 Approval Costs (408) (171) Construction Costs (464) (362) Sales, Marketing, Admin, Employee & Other Costs (279) (221) Total Outflow (1151) (754) Net Operating Cash Flow (
Slide 25: Operational Cashflow for Growth
Operational Cashflow for Growth In ₹ Crores Monetisation Progress of Launched Projects Q2FY26 Gross Debt - ₹ 564 Pending Collection from Sold Inventories 2,681 Estimated Value of Unsold Inventory 5,860 Gross Cash - ₹ 612 Total Estimated Collection 8,541 Remaining Estimated Project Cost 5,491 Net Cas
Slide 26: Strong Execution Track Record
Strong Execution Track Record In ₹ Crores 4 Yr CAGR – No. of Bookings 4 Yr CAGR – Booking Value 22% 55% 2,249 2,314 1,354 1,003 1,609 938 701 963 455 399 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 4 Yr CAGR – Reported Revenue 4 Yr CAGR – Customer Collections 101% 2313 64% 1,887 1,551 1593 1,2
Slide 27: Management Team
| Management Team RAYMON|REALty
Slide 28: Raymond Group Led by Gautam Hari Singhania
RaymondGroupLedby “The future lies in imagining the unimaginable!!! At Reimagined Raymond, We aspire to achieve just the same. We aim to create not just offerings but an organization built for the future.” GAUTAM HARI SINGHANIA Chairman
Slide 29: Board Members
Board Members KUMMAMURI NARASIMHA ASHISH KAPADIA HARMOHAN SAHNI GAUTAM TRIVEDI MURTHY Non - Executive Managing Director Non - Executive Director Independent Director Independent Director 30+ years of experience in the Real 40+ years of Finance & Governance 30+ years of experience in Investment ~20 y
Slide 30: Our Leadership Team
OurLeadershipTeam HARMOHAN SAHNI SANDEEP MAHESHWARI ANKUR JINDAL Managing Director Chief OperatingOfficer Chief FinancialOfficer A qualified CharteredAccountant withover30 A qualified Civil Engineer & MBA with over 35 A qualified CharteredAccountant with over24 years of formidable experience in Real
Slide 31: Our Leadership Team
OurLeadership Team SHILPA SHINDE KHOJESHWAR KAUSHIK ULHAS BHOSALE Head - Design Development Head - Contracts & Procurement Head - Legal A qualified Architect with over 20 years of A qualified Civil Engineer & MBA in Finance, A qualified lawyerwithover25 years of experience experience across Resident
Slide 32: Annexures
Annexures 1. Booking Update of Ongoing Projects - (Page 32-36) 2. Project Status - (Page 37-44) 31
Slide 33: Booking Update of Ongoing Projects
Booking Update of Ongoing Projects
Slide 34: Existing Projects Booking Update: Thane
Existing Projects Booking Update: THANE 10 Towers with Project Till Particulars Q2FY25 Q1FY26 Q2FY26 RERA Carpet Area Date ~1.7 Mn sq.ft. No of Bookings 56 23 8 3,068 % RERA Carpet Area* 0.03 0.01 0.00 1.68 UNITS SOLD Total Units Planned: Value of Bookings (Cr.) 66 29 8 3,342 & & ~99% 3,103 Customer
Slide 35: Existing Projects Booking Update: Thane
Existing Projects Booking Update: THANE 02 towers with Project Till Particulars Q2FY25 Q1FY26 Q2FY26 RERA Carpet Area Date ~0.7 Mn sq.ft. No of Bookings 6 6 0 541 % Total Units Planned: RERA Carpet Area* 0.01 0.01 0.00 0.67 UNITS SOLD 552 Value of Bookings (Cr.) 15 28 0 1,450 & ~98% (5BHK & above: 4
Slide 36: Existing Projects Booking Update: Thane
Existing Projects Booking Update: THANE 1 towers with Project Till Particulars Q2FY25 Q1FY26 Q2FY26 RERA Carpet Area Date ~0.2 Mn sq.ft. No of Bookings 8 4 3 80 % RERA Carpet Area* 0.02 0.01 0.01 0.18 UNITS SOLD Total Units Planned: Value of Bookings (Cr.) 44 23 16 433 & ~78% 102 Customer Collection
Slide 37: Existing Projects Booking Update: JDA's
Existing Projects Booking Update: JDA’s 8 towers with Project Till Particulars Q2FY25 Q1FY26 Q2FY26 RERA Carpet Area Date % ~0.7 Mn sq.ft. No of Bookings 30 31 59 348 RERA Carpet Area* 0.03 0.03 0.05 0.03 LAUNCHED Total Units Planned: 805 Value of Bookings (Cr.) 94 105 194 1,125 & UNITS SOLD1 (4BHK
Slide 38: Project Status
| Project Status RayMond |rearty
Slide 39: Aspirational: Ten X Habitat (Thane)
Aspirational: Ten X Habitat (Thane) KEY HIGHLIGHTS: • 5-acre landscape • 10 towers offering 1 & 2 BHK apartments with cross-ventilation • 50,000+ sq.ft. clubhouse • 50+ amenities PROJECT STATUS: • Tower 1st to 8th OC received, possession in progress • Tower 9th & 10th Internal finishing & Lift insta
Slide 40: Aspirational: Ten X Era (Thane)
Aspirational: Ten X Era (Thane) KEY HIGHLIGHTS: • 3 towers, centrally located next to Lakeshore Mall (Viviana) • Efficiently planned 2 and 3 BHK Vaastu compliant homes • 26,500 sq.ft. clubhouse • 40+ indoor and outdoor amenities PROJECT STATUS: • Tower (A) - 17th floor slab WIP • Tower (B) - 28th fl
Slide 41: Premium: The Address by GS-S1 (Thane)
Premium: The Address by GS-S1 (Thane) KEY HIGHLIGHTS: • 1.4 acres of landscape • 2 towers offering premium 3, 4, 5 & 6 BHK apartments • 45,000 sq.ft. clubhouse • Host of amenities PROJECT STATUS: • Tower (A) - External & internal finishing & MEP WIP • Tower (B) - External & internal finishing & MEP
Slide 42: Premium: The Address by GS-S2 (Thane)
Premium: The Address by GS-S2 (Thane) KEY HIGHLIGHTS: • 3 towers offering premium 3, 4, 5 & 6 BHK apartments with expansive decks • Podium top landscape amenities PROJECT STATUS: • Tower (C) - 19th floor slab WIP • Tower (D) - 12th floor slab WIP • Tower (E) - Podium & 1st floor slab WIP Total Rera
Slide 43: Premium, JDA Project: The Address by GS (Bandra)
Premium, JDA Project: The Address by GS (Bandra) KEY HIGHLIGHTS: • 8 towers offering opulent 2, 3 & 4 BHK apartments with Private Sundeck • Portuguese-inspired architecture design features • 30+ landscape & clubhouse amenities PROJECT STATUS: • Tower (A) – B3 slab WIP • Tower (B) & (C) - B3 foundati
Slide 44: Luxury: Invictus by GS – Tower A (Thane)
Luxury: Invictus by GS – Tower A (Thane) KEY HIGHLIGHTS: • 4.5 - BHK home spaces • Exclusive Tower Amenities • 25,000 sq.ft. clubhouse PROJECT STATUS: • 11th floor slab WIP Total Rera Carpet Area: ~0.2 msf % Sold: ~78% 43
Slide 45: Commercial Retail: Park Avenue (Thane)
Commercial Retail: Park Avenue (Thane) Total Rera Carpet Area: ~0.08 msf % Sold: ~65% 44
Slide 46: Disclaimer
Disclaimer The particulars of this presentation contain statements related but not limited to revenues, financial results and supplemental financial information which has been compiled by the management, not to be construed as being provided under any legal or regulatory requirement and are not inte
Slide 47: Thank You
THANK YOU Contact Us: RRL.IR@raymond.in 46