Total income soared 94.90% year on year (YoY) to Rs 601.4 crore in the quarter ended 31 March 2025.
Profit before tax (PBT) declined 4.44% YoY to Rs 44.55 crore in Q4 FY25, comapared with Rs 46.62 crore in Q4 FY24.
EBITDA stood at Rs 99 crore in Q4 FY25, registering a growth of 38% YoY, compared with Rs 72 crore in same quarter last year. EBTDA margin reduced to 16.4% in Q4 FY25 from 23.3% in Q4 FY24.
The engineering segment reported sales of Rs 528 crore in Q4 FY25, up from Rs 234 crore in Q4 FY24, reflecting the contribution from the MPPL acquisition completed in March 2024. Despite this growth, the segment remained affected by weak export demand and ongoing geopolitical challenges. EBITDA margin for the quarter stood at 15.3%, slightly down from 15.8% in Q4 FY24, primarily due to changes in the product mix. Notably, the aerospace division saw a recovery in growth following the resolution of production issues at a major aircraft manufacturer.
Raymond remains a net cash surplus company, holding Rs 263 crore in cash as of the end of Q4 FY25.
The demerger of Raymond Realty (RRL) was completed on 1 May 2025. The record date has been set for 14 May 2025, to determine the eligible shareholders of Raymond (RL) who will receive equity shares of RRL, in accordance with the approved scheme of arrangement. As per the scheme, each shareholder of Raymond Limited will receive one equity share of Raymond Realty for every share held.
During Q4 FY25, the real estate business posted a strong performance with revenue rising to Rs 766 crore, up 13% from Rs 677 crore in Q4 FY24. EBITDA increased to Rs 194 crore from Rs 171 crore in the same period last year, with the EBITDA margin improving to 25.3%. The company remains focused on timely project execution, continuing its track record of delivering ahead of schedule—a key driver of enhanced customer trust and confidence.
During the quarter, the company has signed two new Joint Development Agreements (JDAs) in Mahim and Wadala, with a combined gross development value (GDV) of approximately Rs 6,800 crore. These strategic additions are set to significantly contribute to our future growth and reinforce our position as a leading developer in the MMR region.
With these new projects, the total potential revenue pipeline for our Real Estate business now stands at approximately Rs 40,000 crore. This includes around Rs 25,000 crore from our Thane land parcel and Rs 14,000 crore from our JDA-led developments.
In Q4 FY25, we achieved a robust booking value of Rs 636 crore, driven by strong demand for key developments such as The Address by GS 2.0, Invictus, and Park Avenue – High Street Retail in Thane, as well as The Address by GS in Bandra under our JDA portfolio.
The Real Estate business continues to maintain a strong financial position and is now Net Cash Surplus with Rs 399 crore.
Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said; “We are delighted to announce the successful demerger of our Real Estate business, which is expected to be listed in the Q2FY26. This strategic move emphasizes our commitment to drive sustainable growth via pure play business and further enhance shareholder value.
We continue to expand our portfolio through the JDA route in this quarter, having signed two additional JDA’s, in Mahim and Wadala aggregating to Rs 6,800 crore, with this now we have a total of six projects outside our Thane Land. On the Engineering business, we continue to remain highly optimistic about FY26 performance. The aerospace sector presents significant growth opportunities, and we are wellpositioned to leverage the same to deliver sustained value to our stakeholders.”
Raymond Group has been a pioneer and leader in fabric manufacturing, since 1925, and then forayed into other sectors such as engineering business and Real Estate. Raymond Realty has cemented its position amongst the home buyers in MMR region. Raymond’s engineering business is well known with its leadership position in manufacturing files and hand tools and has a significant presence in national and international markets.