Raymond Ltd Q2 Performance: Engineering Revenue Up 121%, Real Estate Surges 135%

Raymond Ltd reported strong second-quarter results for fiscal year 2025, driven by impressive performance in its real estate and engineering sectors. Net profit jumped to ₹59 crore, more than double the ₹27.8 crore reported for the same period last year, showing significant growth driven by the company’s strategic moves.

Revenue from operations also surged, reaching ₹1,044.7 crore compared to ₹470 crore in Q2 FY24. This increase underscores how effectively Raymond is capitalizing on emerging market opportunities. While the EBITDA margin saw a slight dip from 11.9% to 11.1%, the overall EBITDA more than doubled, rising from ₹55.8 crore to ₹116 crore.

Chairman and Managing Director Gautam Hari Singhania expressed satisfaction with the results, citing robust momentum in both real estate and engineering. Singhania emphasized the company’s strength in project execution, particularly in real estate, as a major factor. Among the highlights of the quarter was the launch of Park Avenue - High Street Reimagined in Thane, an ambitious project set to reshape retail spaces and enhance Raymond Realty’s residential projects.

The real estate segment was a major growth driver this quarter. Revenue in this area surged by 135% year-over-year to ₹571 crore, with sales hitting ₹562 crore. EBITDA for this segment also saw a strong rise, reaching ₹112 crore compared to ₹47 crore in the previous year. 

Raymond’s engineering division also showed strong results, with revenue jumping 121% to ₹443 crore. The EBITDA margin remained steady at 11%, helped by effective cost management and operational improvements. Growth was driven by high domestic demand for products like flex plates, ring gears, and shaft bearings. While export markets faced challenges due to geopolitical issues and fluctuating global demand, Mr Singhania mentioned that the merger of Maini operations with JK Engineering had a positive impact.

Financially, Raymond remains in a strong position, with cash reserves of ₹685 crore set aside for future growth projects. In the stock market, Raymond’s shares rose to ₹1,681 on the BSE, marking a 1.65% gain. This positive market response indicates investor confidence in Raymond’s strategy and growth potential. The company announced these results after market hours, reinforcing optimism for the coming quarters.

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