Q2 FY27 update: pre-sales nearly double to ₹902 crore, collections up 67%; ₹4,100 crore Mahim launches planned

Provisional Q2 FY27 (Jul–Sep 2026) operational update.

Mon 5 Oct 2026

Q2 FY27 Pre-sales

₹902 crore, up 98% YoY

H1 FY27 Pre-sales

₹1,602 crore, up 111%

Q2 FY27 Collections

₹682 crore, up 67% YoY

Net Debt

₹914 crore; Gross borrowings ₹1,220 crore; CARE A+ (Stable) reaffirmed

Mahim Launches Planned GDV (H2 FY27)

over ₹4,100 crore

Raymond Realty released provisional operational numbers for Q2 FY27 (July–September 2026). The figures are described as strictly provisional and subject to review.

Pre-sales and collections

• Q2 FY27 pre-sales of ₹902 crore, up 98% year-on-year.
• Q2 FY27 collections of ₹682 crore, up 67% year-on-year.
• H1 FY27 pre-sales of ₹1,602 crore, up 111% year-on-year.
• H1 FY27 collections of ₹1,233 crore, up 57% year-on-year.

The company said the quarter experienced no new project launches, with growth driven entirely by sustained sales velocity and steady price realization within the existing 'Address by GS' portfolio.

Execution

• Occupation Certificate (OC) received for Address by GS Season 1 Tower B in Thane, comprising 270 units.
• The company said the OC came well ahead of the project's RERA timeline, which it described as a testament to its execution capabilities.

Planned launches

• The company is accelerating its growth trajectory over the next two quarters with a pipeline of Mumbai Metropolitan Region launches, representing a cumulative GDV of over ₹4,100 crore.
• These will be two premier JDA project launches, expected to strengthen the company's market position.

Balance sheet and rating

• Gross borrowings increased during the quarter, bringing the total to ₹1,220 crore as of September 30, 2026. The company said these drawdowns were primarily utilized to fund construction across its FY26 project launches.
• Net debt stood at ₹914 crore.
• The company said its net debt-to-equity ratio is well below its Board-approved ceiling, and that it intends to grow based on collections and keep leverage within its ceiling.
• CARE reaffirmed the rating at CARE A+ with a Stable outlook, citing consistent booking momentum, an improving launch pipeline and healthy execution on the existing portfolio.

Management view

Managing Director & CEO Harmohan Sahni said the company nearly doubled pre-sales this quarter without any new launches, supported by resilient sustenance sales and continued homebuyer confidence, and pointed to the year-on-year growth in collections as a sign of focus on cash flow efficiency.

FY27 guidance

The company said it remains on track with its FY27 guidance covering pre-sales growth, ROCE, EBITDA margin and PAT margin, with focus on scaling its operational footprint through the scheduled launches.

Points to keep in mind

• The Q2 and H1 FY27 figures are provisional and subject to review.
• The release contains forward-looking statements on launches, guidance and future performance, based on current expectations and assumptions of the management, and subject to risks and uncertainties including regulatory approvals, economic uncertainties, market conditions and execution timelines.

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