Raymond Realty Shares to List in July, Says Group Head Gautam Singhania

Raymond Group’s chairman and managing director, Gautam Singhania, has announced that their newly carved-out real estate company, Raymond Realty, will be listed on the stock exchange in early July. The entity was demerged from the parent company, Raymond Ltd, on May 1, with May 14 set as the record date for determining eligible shareholders.

The exact date for the listing is not confirmed yet, but it should be early July.

Under the demerger scheme, each shareholder of Raymond Ltd will receive one share of Raymond Realty for every share held in Raymond. The demerger was approved on May 1, and the record date for shareholder eligibility was May 14.

Raymond’s stock dropped around 66% on May 14 due to a technical price adjustment following the demerger; however, this was not an actual loss for investors but a technical revision in the share price. After the adjustment, shares surged nearly 23% in May—their best monthly performance since June 2024.

Raymond Realty may be valued at ₹1,076 per share, with an operating profit forecast of ₹5.97 billion for fiscal 2026. For the financial year ended March 31, 2025, the business reported a 45% rise in revenue to ₹2,313 crore, with operating profit up 37% at ₹507 crore.

Raymond's shares dropped about 0.34% to ₹617.55 on Tuesday.

Raymond Realty offers luxury and affordable luxury apartments ranging from 1 BHK to 4 BHK. The company’s strategy focuses on rapid sales and construction, enabling quick project completion and faster revenue generation. In Q4 FY25, it earned revenue of ₹766 crore, up 13% from ₹677 crore in the same period of FY24. The segment reported an EBITDA of ₹194 crore in Q4 FY25, up from ₹171 crore in Q4 FY24, with the EBITDA margin steady at 25.3%.

Raymond Realty operates as a net debt-free business in the real estate segment, with a net cash surplus of approximately ₹400 crore as of March 2025.

During Q4 FY25, the company signed two additional joint development agreements—one in Mahim and another in Wadala—together representing a gross development value of ₹6,800 crore.

Both projects are expected to contribute significantly to Raymond Realty’s future growth and further strengthen its position as a key player in the Mumbai Metropolitan Region, Raymond management told analysts in the fourth quarter earnings call last month.