Raymond Ltd has officially demerged its real estate business, creating Raymond Realty as a standalone entity, as per news reports. This move is part of the conglomerate’s strategy to streamline operations into focused verticals. As shareholders await their one-to-one share allotment, Raymond Realty is preparing for independent listing on the NSE and BSE by the second quarter of FY26, backed by robust financials and an expanding project pipeline.
In the Q4 FY25, Raymond Realty reported a 13% year-on-year growth in revenue, reaching ₹766 crore. The company’s EBITDA also rose 13% YoY to ₹194 crore, maintaining a solid EBITDA margin of 25.3%. These figures underscore the company’s financial stability as it transitions into a standalone listed entity.
Raymond Realty recorded a booking value of ₹636 crore during Q4 FY25, even though there were no new project launches in the quarter. The robust sales performance was driven by existing developments such as The Address by GS 2.0, Invictus, Park Avenue – High Street Retail in Thane, and The Address by GS in Bandra.
In a strategic move to diversify beyond its Thane land parcel, Raymond Realty entered into two new joint development agreements (JDAs) in Mahim and Wadala. These deals added ₹6,800 crore to the company’s potential gross development value. Chairman Gautam Hari Singhania noted that the company now has six active projects outside Thane, signaling a shift toward broader regional presence.
The company’s revenue pipeline is nearing ₹40,000 crore, including ₹25,000 crore from its core Thane land holdings and ₹14,000 crore from JDA-based developments. Management has confirmed that more JDA projects are under evaluation, in line with its capital-light expansion strategy.
Raymond Realty is set to be listed on NSE and BSE by the September quarter of FY26. This follows the successful demerger of Raymond’s lifestyle business in 2024 and continues the group’s broader strategy of unlocking shareholder value by creating focused, independent verticals.
Also Read: Raymond’s 66% Share Price Plunge Explained: Here’s What’s Really Going On.
The realty arm is scaling up operations through a capital-light model based on joint development agreements. This approach minimises upfront investment while enabling faster geographic expansion, particularly across the Mumbai Metropolitan Region. The company is targeting a 20–25% growth in booking value going forward.
Chairman and Managing Director Gautam Hari Singhania stated that the demerger marks a significant milestone in Raymond’s transformation journey. He emphasised that the move reflects a long-term commitment to driving sustainable growth across both real estate and engineering verticals.
On May 19, 2025, shares of Raymond Ltd (NSE:Raymond) opened at ₹637.90, higher than its previous close at ₹607.60. At 1.51 PM, the share price of Raymond Ltd was trading at ₹637.90, up by 4.99% on the NSE.
Raymond Realty’s demerger and upcoming listing represent a strategic shift toward focused business growth. With strong financials, a diversified pipeline, and a capital-efficient model, the newly independent company is well-positioned for long-term value creation.
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Published on: May 19, 2025, 1:54 PM IST
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