Raymond Q3 profit from continuing operation surges 75% to ₹72.28 cr

Raymond profit from the continuing operations increased by 75% to ₹72.28 crore during October-December 2024 (Q3 FY25) versus ₹41.35 crore during the same period last year. The company says its discontinued operations of its lifestyle business are now a separate entity.

The company, in a stock exchange filing today, says its revenue from the real estate and engineering business grew 36% YoY to ₹985 crore, while EBITDA came in at ₹169 crore, with an EBITDA margin of 17.2%. This includes the MPPL acquisition completed in March 2024.

The company says its real estate business continues to perform well and in Q3 FY25, it achieved a booking value of ₹505 crore, primarily driven by demand for The Address by GS 2.0, 'TenX ERA', sale of retail shops in Thane and Bandra. "Raymond continues to be a net cash surplus company with ₹696 crore available for future growth."

Gautam Singhania, chairman & managing director, Raymond, says the company witnessed continued growth momentum in its real estate business during the quarter, with a strong booking value on the successful launch of a new residential tower and continued traction in high street retail shops on its Thane land. "We remain optimistic about the future of our engineering business, particularly in the aerospace sector, where we foresee significant growth opportunities,” he said.

Real Estate Business

Raymond Realty's Q3 revenue stood at ₹488 crore in Q3 FY25, up from ₹439 crore in Q3FY24, recording a growth of 11% Y-o-Y. The segment reported an EBITDA of ₹116 crore in Q3 FY25 from ₹97 crore in Q3 FY24, while the EBITDA margin came in at 23.8%, a 160 bps improvement YoY.

During the quarter, Raymond Realty launched a new residential tower in its Address by Season 2.0 Thane project. "Further, we also witnessed continued traction in our Park Avenue – High Street Reimagined Retail project launched in the previous quarter."

Engineering Business

The company's engineering arm saw sales at ₹433 crore in Q3FY25 compared to ₹217 crore in Q3FY24. This performance includes the acquisition of MPPL, which was completed in March 2024. "The auto components and the engineering consumable category were impacted due to sluggishness in export markets on account of weak demand and geopolitical issues," says the company.

During Q3, Raymond says the engineering business reported an EBITDA margin of 12%, lower as compared to 13.8% in Q3FY24 on changes in the product mix. The company says its aerospace business is expected to grow post-resolution of production issues faced by one of the largest aircraft manufacturers leading to delays in the order.