Raymond Reports Stellar Q1 Results with 26.7% Rise in Profit and 98.1% Jump in Revenue
The company's Real Estate and Engineering business recorded consolidated quarterly revenue at Rs 998 crore, posting a growth of 93% and an EBITDA of Rs 162 crore.
Raymond Q1 ResultsReal Estate BusinessEngineering BusinessTextile IndustryIndian EconomyReal EstateAug 06, 2024
The Real Estate and Engineering business of the company recorded consolidated quarterly revenue at Rs 998 crore, posting a growth of 93% as compared to the same quarter of previous financial year, and an EBITDA of Rs 162 crore. In Q1FY25, the company achieved a strong booking value of Rs 611 crore, primarily driven by demand for ‘The Address by GS 2.0’ in Thane and the recently launched JDA ‘The Address by GS’ in Bandra.
Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited, expressed satisfaction with the company's business performance in Q1 FY25, attributing it to the strength and resilience of the company's business strategy. He highlighted the expansion of the Real Estate business through the JDA route and the company's foray into the Aerospace business following the acquisition of MPPL.
Raymond's Q1 performance across businesses was impressive, with the Real Estate business showcasing strong sales performance, marking a 108% growth to Rs 488 crore in Q1 FY25 from Rs 235 crore in the same quarter of the previous year, driven by sustained home demand and increased customer confidence in Raymond Realty projects. The segment reported an EBITDA of Rs 85 crore in Q1FY25.
The Engineering business segment reported sales of Rs 419 crore in Q1FY25, doubling revenue compared to Rs 209 crore in the same quarter of the previous year. Revenue for Q1FY25 includes revenue from MPPL of Rs 220 crore, which was acquired in March 24. The segment delivered an EBITDA margin of 13.2%.
The company completed the acquisition of Maini Precision Products Limited (MPPL) on 29th March 2024, and has consolidated the performance of its Engineering business to include MPPL starting from Q1FY25.
Furthermore, the demerger of the Lifestyle business was completed on 30th June 2024, and the listing of Raymond Lifestyle Limited is expected in the second quarter of this year.
Raymond Limited is a leading Indian textile company, with a diverse portfolio of businesses, including textiles, real estate, and engineeringRaymond Limited is an Indian lifestyle, textile and branded apparel company, with a strong presence in the domestic and international markets.
Frequently Asked Questions
What is the net profit of Raymond Limited in Q1 FY25?
Rs 57.04 crore
What is the growth in revenue from operations of Raymond Limited in Q1 FY25?
98.1%
What is the EBITDA of Raymond Limited's Real Estate and Engineering business in Q1 FY25?
Rs 162 crore
What is the booking value achieved by Raymond Limited in Q1 FY25?
Rs 611 crore
What is the expected listing of Raymond Lifestyle Limited?
Second quarter of this year
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