Raymond Realty Ltd

Certification and project highlights

• TenX Habitat Phase 1, Thane, awarded IGBC Silver rating under IGBC Green Homes Rating System.
• Certification recognizes sustainable site planning, water harvesting, energy optimization, and indoor environmental quality.
• Delivered 3,000+ homes at TenX Habitat, ahead of RERA timelines.
• TenX Habitat spans 14 acres with a 5-acre central landscape.
• Includes over 1,500 trees, 50+ amenities, and a 25,000 sq ft clubhouse.
• Rooftop facilities include 100,000 sq ft rooftop sporting facility.

Meeting Details

• Date: 27-Aug-2026
• Type/Mode: One-on-One, In-person
• Organisers/Investors: Geosphere Capital Asset Management; Jefferies India Institutional Equities

Participants

• Company representatives will participate in the meetings

Purpose

• Discuss Investor Presentation and investor interactions

Materials

• Investor Presentation submitted to exchanges and posted on company website on Aug 19, 2026

Investor meetings

• Raymond Realty to hold one-on-one meetings with Equirius Capital, Old Bridge MF, and Ambit Asset Mgmt on 24-Aug-2026.
• Investor Presentation released Aug 19, 2026; submitted to stock exchanges and available on the company's website.

Purpose of presentation

• Investor presentation on business overview, Q1 FY27 results, and project details.

Q1 FY27 financial highlights

• Revenue from operations ₹527 Cr; Total Income ₹536 Cr.
• EBITDA ₹70 Cr; EBITDA margin 13%.
• PBT ₹15 Cr; Net profit ₹13 Cr; Taxes ₹2 Cr.
• Total Income grew 37% YoY to ₹536 Cr.

Portfolio and GDV

• Total GDV ₹52,000 Cr; Launched ₹28,000 Cr; Unsold ₹15,700 Cr.
• Revenue Recognized ₹9,000 Cr; Balance Revenue ₹3,300 Cr; To-be-Launched ₹24,000 Cr.
• Upcoming and ongoing projects include TenX, The Address by GS, Invictus by GS.

Outlook and governance

• FY27 guidance: Pre-sales ~20% growth; Revenue ~20%; EBITDA margin 17-19%; PAT ~9-10%.
• Credit rating CARE A+; Debt/Equity 0.6; ROE 24%.

Financial Performance

• Bookings (total income) at INR 536 crores in Q1 FY27.
• Customer collections at INR 550 crores in Q1 FY27, up 47% YoY.
• EBITDA at INR 70 crores; margin 13% in Q1 FY27 (vs 11% Q1 FY26).
• Net debt at INR 824 crores; debt-to-equity 0.7x.
• Liquidity buffer of INR 271 crores.
• Total GDV at INR 52,000 crores; JDA GDV at INR 27,000 crores (52%).
• Owned land GDV at INR 25,000 crores.
• Q1 presales ~INR 700 crores; 64% from JDA models.
• Cumulative JDA sales INR 2,900 crores; cash collections ~INR 692 crores.
• Parel JDA GDV INR 8,500 crores.
• Thane land: 65 acres under active development; 6.7 mn sq ft; revenue potential INR 16,500 crores.
• Thane: 11 towers delivered; ~4,000 homes delivered.

Operating Update

• JDA share of GDV: ~52%; eight JDAs signed, four launched.
• Four JDAs launched: Bandra East, BKC, Wadala, Sion; 2.8 mn sq ft carpet area; revenue potential INR 11,500 crores.
• Unlaunched GDV INR 24,000 crores; unsold GDV INR 15,700 crores.
• Parel project expands into South Bombay premium housing; GDV INR 8,500 crores.

Balance Sheet and Cash Flow

• Gross debt INR 1,095 crores; net debt INR 824 crores; cash INR 271 crores.
• Debt-to-equity target: not to exceed 1x.

Projects and Capex

• JDA portfolio now eight deals; four launched across marquee locations.
• Thane land delivers 36% of total booking value in Q1; future share may adjust with launches.
• Parel is 1.7 million sq ft carpet area; underwritten GDV INR 8,500 crores.

Outlook and Guidance

• FY27 presales growth upward of 20% YoY.
• FY27 total turnover growth minimum 20% YoY.
• EBITDA margin guidance: 17% to 19%.
• ROCE target: 20% or upward.
• Own-land margins around 25-26%; JDA margins ~20% once matured.

Q&A

• Execution priorities: focus on launches of Q4 FY26 projects; demand remains strong.
• Cost pressures are temporary; Maharashtra pro-growth environment supports execution.
• Capital allocation: D/E 0.7x; SPV/AIF options possible; no immediate equity plans.
• Parel project: ticket sizes INR 6–20 crores; GDV underwritten INR 8,500 crores.
• Mahim launches: first by Nov–Dec; second by Feb–Mar FY27.
• IR efforts: Sumeet Sabharwal appointed to strengthen investor outreach.

Target & business

• Ten X Mahalaxmi Limited (TXML) is a wholly owned subsidiary for Indian real estate development.

Size & capital

• Authorized share capital Rs 1,00,000; turnover Nil on incorporation.

Control

• Acquisition: 100% stake; TXML is wholly owned by Raymond Realty Limited.

Consideration

• Consideration: cash investment for 10,000 equity shares of Rs 10.

Cost of acquisition

• Purchase price: Rs 1,00,000.

Regulatory approvals

• Regulatory approvals: not applicable.

Purpose & rationale

• Purpose: undertake redevelopment-focused real estate projects; mitigates project-specific risks.

Timeline

• Incorporated Aug 12, 2026; RoC Mumbai; yet to commence operations.

Background

• Incorporated in India on Aug 12, 2026; registered with RoC Mumbai; will engage in real estate.

Meeting Details

• Date and time: August 10, 2026 at 11:00 A.M.
• Type: Investor Conference; mode not specified
• Recording: audio recording uploaded on company website

Participants

• Key company participant: Company Secretary

Purpose

• Discuss Q1 FY2026 financial performance (quarter ended June 30, 2026)

Business Overview

• Core business: luxury real estate development in India with TenX-branded projects and related retail.
• Twin-engine growth via own land and JDAs to drive GDV expansion.
• OC received for all TenX Habitat towers; 3,000+ homes delivered.
• Portfolio includes The Address by GS, Invictus by GS, and premium retail assets.

Operational Highlights

• Q1 FY27 highlights: pre-sales ₹700 Cr; collections ₹550 Cr.
• Total Income ₹536 Cr; EBITDA ₹70 Cr; EBITDA margin 13%.
• Revenue from operations ₹527 Cr; YoY growth 38%.
• PBT ₹15 Cr; Net profit ₹13 Cr.
• TenX Habitat: 3,084 bookings; revenue recognised ₹3,298 Cr.
• TenX Era: 822 bookings; revenue recognised ₹863 Cr.

Financial Performance

• Balance sheet: Total assets ₹7,050 Cr; equity ₹1,582 Cr.
• Cash flows: Opening ₹358 Cr; closing ₹271 Cr; net operating cash flow ₹−141 Cr.
• Bank loan reduced to ₹54 Cr from ₹190 Cr (FY26).
• Current assets ₹6,929 Cr; current liabilities ₹4,606 Cr.

Capital Structure & Liquidity

• Debt declined with ₹54 Cr bank loan end-Q1 vs ₹190 Cr prior year.
• Liquidity supported by ₹6,929 Cr current assets against ₹4,606 Cr current liabilities.

Strategic Priorities & Outlook

• Twin-engine growth focus on own land and JDAs to scale GDV.
• Accelerate premium launches with robust pre-sales and collections.
• Continue execution across TenX portfolio and related luxury assets.

Governance & Leadership

• Chairman: Gautam Hari Singhania; tenure >35 years.
• MD: Harmohan Sahni; 30+ years in real estate.
• Independent Directors: Murthy, Dipali Sheth, Gautam Trivedi, Ashish Kapadia, Bharat Khanna, Virendra Singh.
• CFO: Ankur Jindal.

Approval of results

• Unaudited standalone and consolidated results for quarter ended 30 June 2026 approved.
• Limited Review Report by statutory auditors obtained for the quarter.
• Press Release on the unaudited results for the quarter released.
• Audit Committee recommended on 06 August 2026; Board approved on 07 August 2026.

Key financial highlights

• Consolidated total income ₹535.7 Cr in Q1 FY27.
• Standalone total income ₹267.5 Cr in Q1 FY27.
• EBITDA ₹70 Cr; margin 13% in Q1 FY27.
• Net debt ₹824 Cr; debt-to-equity 0.7x.
• Booking value ₹700 Cr in Q1 FY27; JDA 64%, Thane 36%.
• Total portfolio GDV ~₹52,000 Cr; 8 JDA projects.
• FY27 guidance: ~20% growth in pre-sales and revenue.
• ROCE targeted around 20%; EBITDA margin 17-19%.
• Cost of debt ~9.6%.
• Liquidity buffer ₹271 Cr; fully funded for next year.