Raymond Records ₹902 Crore Q2 Pre-Sales

05 Oct 2026 Articles PROPi

Raymond Realty nearly doubled its Q2 FY27 pre-sales to ₹902 crore without launching a new project and is now preparing more than ₹4,100 crore of new development in Mahim.

Raymond Realty recorded ₹902 crore of pre-sales in Q2 FY27, marking a 98% year-on-year increase despite having no new launches during the quarter.

The performance came entirely from sustenance sales, supported by existing inventory in the developer's Address by GS portfolio and steady price realisation.

Collections also recorded significant growth, increasing 67% year-on-year to ₹682 crore.

For developers and channel partners, the numbers indicate continued absorption within Raymond Realty's existing portfolio ahead of its next phase of launches.

H1 Pre-Sales Cross ₹1,600 Crore

During the first six months of FY27, Raymond Realty generated ₹1,602 crore in pre-sales, up 111% from ₹760 crore during H1 FY26.

Collections for the six-month period increased 57% from ₹783 crore to ₹1,233 crore.

The company is targeting approximately 20% year-on-year growth in pre-sales for FY27.

Two Mahim JDAs Coming Next

The next major addition to Raymond Realty's Mumbai pipeline will come from two joint development projects in Mahim.

The projects together represent a potential GDV exceeding ₹4,100 crore.

Mahim 1 carries an estimated ₹1,800 crore GDV with 0.41 million sq ft of RERA area, while Mahim 2 represents approximately ₹2,300 crore GDV and 0.39 million sq ft.

The two developments therefore provide approximately 8 lakh sq ft of combined RERA area.

JDA Strategy Builds Mumbai Scale

The Mahim developments demonstrate the importance of joint development agreements for expanding within established Mumbai locations.

Rather than requiring outright acquisition of expensive urban land, JDAs allow developers to partner with existing landowners while bringing their brand, capital, construction and sales capabilities to the development.

Raymond Realty expects its upcoming MMR launches to support its FY27 sales guidance.

Its net debt stood at ₹914 crore as of September 30, while the company's net debt-to-equity ratio remained below its board-approved ceiling of 1.0 times.

Sandeep Sadh’s Take:

Strong sustenance sales give a developer a good base before launching fresh inventory. For the broker market, the two Mahim JDAs are the key projects to watch because ₹4,100 crore of GDV can create a substantial new sales opportunity.