Raymond Realty pre-sales surge 129% in Q1 without any new launch
Provisional Q1 FY27 pre-sales hit ₹700 crore, collections rise 47% to ₹550 crore. No new projects launched; demand for existing premium inventory drives growth.
What's new
- Pre-sales of ₹700 crore in Q1 FY27, up 129% from ₹306 crore a year ago.
- Collections rose 47% YoY to ₹550 crore; no new residential launches in the quarter.
- Net debt at ₹827 crore; EBITDA margin guidance of 17-19% reaffirmed.
Why this matters
The 129% pre-sales surge came without a single new launch. It was pure velocity and price realization from existing inventory. For a small-cap developer with a ₹4,158 crore market cap, this indicates strong execution and sustained premium demand. The reaffirmed margin guidance adds credibility to the top-line beat.
What we're watching
- Whether this momentum carries into Q2 without new launches.
- Cash flow conversion from the ₹550 crore collections.
- Any new project launch plans for the rest of FY27.
The full read
Raymond Realty's Q1 pre-sales hit ₹700 crore, a 129% jump from a year ago. No new project launches. That is pure pricing and velocity from existing inventory. Collections rose 47% to ₹550 crore, showing cash flow strength. Net debt stands at ₹827 crore against a market cap of ₹4,158 crore, a manageable level. EBITDA margin guidance of 17-19% reaffirmed. For a developer coming off a record FY26, this start to FY27 is exceptional. The absence of new launches removes typical cycle risk, and the stock's trailing P/E of 13.7 leaves room for re-rating if momentum holds.
Questions answered
- How much were Raymond Realty's Q1 FY27 pre-sales?
- Provisional pre-sales were ₹700 crore, up 129% from ₹306 crore in Q1 FY26.
- Did Raymond Realty launch any new projects in Q1?
- No. The growth came entirely from existing premium projects without any new residential launches.
- What is the company's EBITDA margin guidance?
- Raymond Realty reiterated its EBITDA margin guidance of 17-19% for FY27.
- What is the current net debt level?
- Total borrowings stood at ₹1,097 crore and net debt at ₹827 crore as of 30 June 2026.
- How significant is this performance for the stock?
- With a market cap of ₹4,158 crore, the ₹700 crore quarterly pre-sales annualize to about 67% of market cap, a strong revenue visibility indicator that could drive re-rating.