NEW DELHI: Raymond has reported a dip of 61.01 per cent in its net consolidated profit during the quarter ended December 31, 2024. Its profit after tax stood at Rs 72.28 crore in Q3 FY25 as against Rs 185.39 crore it recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 985.35 crore in Q3 FY25, a growth of 35.55 per cent from Rs 726.91 crore it recorded in the similar quarter last year.
Gautam Hari Singhania, chairman & managing director of the company said, “We witnessed continued growth momentum in our Real Estate business during the quarter, 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.”
The board of directors of Raymond have approved to invest an amount up to Rs 50 crore in the form of redeemable preference shares in one or more tranches in Ten X Realty West (TXRWL), a step-down wholly-owned subsidiary of the company.
The amount proposed for investment would be utilized for the purpose of execution of joint redevelopment project by TXRWL.
Raymond Realty witnessed a revenue of Rs 488 crore in Q3 FY25 as against Rs 439 crore in Q3 FY24, recording a growth of 11% year-on-year. The segment reported an EBITDA of Rs 116 crore in Q3 FY25 from Rs 97 crore in Q3 FY24. EBITDA margin were at 23.8% in Q3 FY25, ~160 bps improvement over 22.1% in Q3 FY24. The company achieved a booking value of Rs 505 crore in Q3 FY25.
Total potential revenue from its current real estate business is over Rs 32,000 crore, which includes over Rs 25,000 crore from its Thane land parcel and over Rs 7,000 crore from four separate joint development agreements (JDAs).
