Raymond Realty Q2 FY27 Results: Consolidated Net Profit ₹53.06 Crore on Total Income of ₹757 Crore
Earnings
real estate
Blacklitt Research3 min read
Syced, via Wikimedia Commons (CC0). Illustrative image.
Raymond Realty (NSE: RAYMONDREL) reported consolidated total income of ₹757.49 crore and net profit of ₹53.06 crore for the quarter ended 30 Sep 2026, in a filing on 27 Oct 2026. On a standalone basis, total income was ₹310.22 crore and net profit was ₹41.55 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹757.49 crore, up 7.3% YoY and 41.4% QoQ
Net profit: ₹53.06 crore, down 11.8% YoY and up 295.1% QoQ
EPS: ₹7.97 basic, against ₹9.04 in Q2 FY26
Finance costs: ₹43.53 crore, up 70.0% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹310.22 crore, down 25.2% YoY and up 16.0% QoQ
Net profit: ₹41.55 crore, down 28.9% YoY and up 57.5% QoQ
EPS: ₹6.24 basic, against ₹8.77 in Q2 FY26
Other income: ₹30.27 crore, up 31.6% YoY
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
757.49
705.79
+7.3%
535.71
+41.4%
Revenue from operations
748.52
697.15
+7.4%
526.67
+42.1%
Other income
8.97
8.64
+3.8%
9.04
-0.8%
53.06
60.18
-11.8%
13.43
+295.1%
Finance costs
43.53
25.61
+70.0%
47.17
-7.7%
Depreciation
5.39
5.33
+1.1%
7.87
-31.5%
Tax expense
13.26
9.94
+33.4%
1.74
+662.1%
Net profit margin
7.00%
8.53%
-1.52 pp
2.51%
+4.50 pp
Tax as share of profit before tax
20.0%
14.2%
+5.82 pp
11.5%
+8.52 pp
EPS, basic (₹)
7.97
9.04
-11.8%
2.02
+294.6%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated total income rose 7.3% year on year to ₹757.49 crore, while net profit fell 11.8% to ₹53.06 crore. Revenue from operations rose 7.4% to ₹748.52 crore, faster than other income, which rose 3.8% to ₹8.97 crore. The press release says the growth came from sustained sales velocity and steady price realization in the existing Address by GS portfolio, with no new project launches in the quarter.
Finance costs rose 70.0% to ₹43.53 crore, and tax expense rose 33.4% to ₹13.26 crore. Tax expense is 20.0% of profit before tax of ₹66.32 crore, against 14.2% a year earlier. The press release puts total interest cost for the quarter at about ₹44 crore, of which about ₹27 crore is interest on bank borrowings and about ₹17 crore is interest to BMC/TMC/MHADA for additional FSI and approvals.
Against the June quarter, total income rose 41.4% and net profit rose 295.1%, from ₹13.43 crore. The press release gives profit before tax as ₹66 crore against ₹70 crore a year earlier, and a PBT margin of 8.8% against 9.9%.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
310.22
414.76
-25.2%
267.53
+16.0%
Revenue from operations
279.95
391.76
-28.5%
239.89
+16.7%
Other income
30.27
23.00
+31.6%
27.64
+9.5%
41.55
58.42
-28.9%
26.38
+57.5%
Finance costs
19.01
11.46
+65.9%
21.71
-12.4%
Depreciation
4.10
5.02
-18.3%
3.59
+14.2%
Tax expense
9.22
12.97
-28.9%
6.18
+49.2%
Net profit margin
13.39%
14.09%
-0.69 pp
9.86%
+3.53 pp
Tax as share of profit before tax
18.2%
18.2%
-0.01 pp
19.0%
-0.82 pp
EPS, basic (₹)
6.24
8.77
-28.8%
3.96
+57.6%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income fell 25.2% year on year to ₹310.22 crore, and net profit fell 28.9% to ₹41.55 crore. Revenue from operations fell 28.5% to ₹279.95 crore, while other income rose 31.6% to ₹30.27 crore. Standalone other income of ₹30.27 crore is 9.8% of total income this quarter.
Standalone finance costs rose 65.9% to ₹19.01 crore and are 6.1% of total income this quarter. Standalone tax expense of ₹9.22 crore is 18.2% of profit before tax of ₹50.77 crore. Basic EPS was ₹6.24, against ₹8.77 a year earlier.
Against the June quarter, standalone total income rose 16.0% and net profit rose 57.5%, from ₹26.38 crore.
Inference
The press release gives gross debt of ₹1,220 crore, net debt of ₹912 crore and a debt to equity ratio of 0.8x against a 1.0x ceiling, with a liquidity buffer of ₹308 crore and a cost of debt of about 9.60%. CARE reaffirmed the rating at CARE A+ with a Stable outlook. The press release says the company remains on track for FY27 guidance of about 20% growth in pre-sales, ROCE of about 20%, an EBITDA margin of 17-19% and a PAT margin of 9-10%.
A final dividend of ₹2 per equity share for the year ended 31 Mar 2026 was approved at the AGM on 14 Jul 2026 and paid the same day. Joint auditors Walker Chandiok & Co LLP and Chaturvedi & Shah LLP state that nothing came to their attention requiring modification in their review reports.
The filing gives no reason for the rise in consolidated net profit from ₹13.43 crore in the June quarter to ₹53.06 crore.
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