Real Estate Mumbai

Raymond Realty stock: Anand Rathi sees 30% upside after 56% rally

By GeoSquare News Desk · Published 2026-10-15

Mumbai-based Raymond Realty, the real estate arm of the Raymond Group, continues to attract strong investor interest. After a sharp 56% jump in its share price over the past six months, brokerage Anand Rathi has maintained a bullish stance, projecting another 30% upside from current levels.

What is driving the optimism?

According to the brokerage, the company's robust sales momentum, healthy launch pipeline, and improving financial metrics are key factors behind the positive outlook. Raymond Realty has been scaling up its presence across the Mumbai Metropolitan Region (MMR) with a focus on premium and mid-premium residential projects.

In the September quarter, the developer reported strong pre-sales growth, aided by sustained demand for branded housing. The company's ongoing projects and new launches in Thane and other micro-markets have helped it maintain a steady growth trajectory.

Target price and valuation

Anand Rathi has set a target price that implies a 30% upside from the current market price. The brokerage believes the stock's re-rating is backed by execution strength and the long-term potential of the company's land bank in MMR.

With property prices in Mumbai remaining firm and buyer sentiment positive, analysts expect Raymond Realty to benefit from the ongoing consolidation in favour of organised developers. The company's focus on timely delivery and brand trust is likely to support future growth.