Raymond Profit Soars 75% to Rs 72 Cr in Q3

New Delhi, Jan 30 (PTI) Raymond Ltd, which is into real estate and engineering businesses, has posted a 75 per cent growth in consolidated net profit to Rs 72.28 crore during the December quarter.

Its net profit stood at Rs 41.35 crore in the year-ago period.

Total income rose to Rs 985.35 crore in the third quarter of this fiscal year from Rs 726.91 crore in the year-ago period, according to a regulatory filing on Wednesday.

Mumbai-based Raymond Ltd now comprises real estate and engineering businesses, excluding the lifestyle business that has been demerged into Raymond Lifestyle Ltd, a separately listed entity.

In real estate vertical, the company achieved sales booking value of Rs 505 crore during the third quarter of the 2024-25 fiscal year.

"Total potential revenue from our current real estate business is Rs 32,000 crore, which includes Rs 25,000 crore+ from our Thane land parcel and Rs 7,000 crore+ from 4 separate JDAs (joint development agreements)," the company said.

Gautam Hari Singhania, Chairman & Managing Director of Raymond Ltd, said, "We witnessed continued growth momentum in our real estate business during the (December) quarter, with a strong booking value on account of successful launch of a new residential tower and continued traction in high street retail shops on our Thane land."

He said the company remains optimistic about the future of engineering business, particularly in the aerospace sector, where it foresees significant growth opportunities.

"As we enter the last quarter of the financial year, we remain optimistic about the growth trends across businesses and we are confident in our ability to deliver sustained value to our stakeholders," Singhania said.