Raymond Realty's Q1 profit leans on other income as margin trails peers
The consolidated quarter was filed after market close; operating margin was 1.13 percentage points below the 116-peer median.
Filed 07 Aug 2026, 18:44 IST · after market close · Raymond Realty Ltd (RAYMONDREL)
Key takeaways
- Other income of Rs 9.04 cr was a material contributor alongside consolidated pre-tax profit of Rs 15.17 cr.
- Operating margin of 11.61% was 1.13 percentage points below the 12.74% median for 116 reported sector peers.
- Management said Q1 FY27 demand was robust, with TenX District 9 recording 21 bookings and 113 bookings till date.
Price around the results
Interest absorbed most of Raymond Realty's operating profit
Interest of Rs 47.17 cr and depreciation of Rs 7.87 cr reduced operating profit of Rs 61.17 cr to pre-tax profit of Rs 15.17 cr. Other income of Rs 9.04 cr was therefore a material contributor to reported pre-tax earnings. The 11.47% tax rate supported the conversion of pre-tax profit into net profit of Rs 13.43 cr.
Q1 margin sat below the reported peer median
Raymond Realty's consolidated operating margin of 11.61% was 1.13 percentage points below the 12.74% median among 116 Consumer Discretionary peers that had reported the quarter. The comparison points to a margin position below the sector midpoint, even as the quarter remained operating-profit positive.
Management points to demand across new and ongoing projects
Management said demand in Q1 FY27 was robust across ongoing and newly launched projects. It said TenX District 9 recorded 21 bookings during the quarter and had 113 bookings till date. The company said Towers B and C at the project were under excavation as of Q1 FY27.
Presentation shows a 20-project growth trajectory
The presentation's FY26 growth trajectory showed 20 projects and gross development value of Rs 52,000 cr. Management's presentation also showed income of Rs 3,039 cr and EBITDA of Rs 495 cr in that trajectory. The results were filed after market close, so there is no same-session market reaction to assess.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹527 cr |
| Other income | ₹9 cr |
| Expenses | ₹466 cr |
| Operating profit | ₹61 cr |
| Operating margin (%) | 11.61% |
| Interest | ₹47 cr |
| Depreciation | ₹8 cr |
| Profit before tax | ₹15 cr |
| Tax | ₹2 cr |
| Net profit | ₹13 cr |
| EPS (₹) | ₹2.02 |
Operating margin of 11.61% compares with a Consumer Discretionary sector median of 12.74% across 116 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Q1 FY27 demand was robust across ongoing and newly launched projects.
- TenX District 9 recorded 21 bookings in Q1 FY27.
Guidance & outlook
- The FY26 growth trajectory shows 20 projects and ₹52,000 Cr GDV.
- The FY26 growth trajectory shows income of ₹3,039 Cr.
- The FY26 growth trajectory shows EBITDA of ₹495 Cr.
Planned next quarter
- TenX District 9 had Towers B and C under excavation as of Q1 FY27.
New orders
- TenX District 9 had 113 bookings till date in Q1 FY27.
What to watch
- Whether operating margin moves above 11.61% in the next reported quarter.
- Whether TenX District 9 bookings build on 21 in Q1 FY27 and 113 till date.
- Progress on Towers B and C at TenX District 9 after excavation work reported in Q1 FY27.