Raymond Realty Share Price: Raymond Group’s Spinoff Arm Hits the Market Today
Raymond Realty share, the real estate arm of Raymond Group, just made its debut on the stock market today, July 1, 2025. This move comes after the company split its operations to focus better on each business. Investors who held Raymond shares on May 14 got Raymond Realty shares in a 1:1 ratio.
Now, we have a chance to look at Raymond’s real estate journey in a whole new way. It’s not just a textile company anymore. With this listing, the group has opened a fresh chapter for its real estate business.
Why is this a big deal? Because Raymond Realty isn’t starting from scratch. It already has big projects in Mumbai and Thane, and it’s showing strong numbers in revenue and profits.
Let’s explore what led to the listing, how the shares performed on day one, and what this means for investors. We’ll also look at expert opinions, plans, and the risks we should keep in mind.
Background: Demerger Recap
The demerger was approved by the National Company Law Tribunal on May 1. The move is part of the group’s strategy, known as “Raymond 2.0,” to create focused, pure-play entities across different business lines.
On May 14, Raymond Ltd. went ex-dividend. That day, its stock price dropped about 66%, but this adjustment didn’t harm investors because they received new shares of the realty unit.
Financial Profile Pre‑Listing
Raymond Realty showed strong numbers before going public. In the full year FY 25, it made ₹2,313 cr in revenue, up 45% year-on-year. Its EBITDA rose 37% to ₹507 cr.
In the fourth quarter, revenue stood at ₹766 cr and EBITDA at ₹194 cr, both up 13% and maintaining a margin around 25.3%.
The company also recorded bookings worth ₹636 cr in Q4, from developments in Thane, Bandra, and other parts of Mumbai.
Pipeline and Strategy
Raymond Realty owns 100 acres of prime land in Thane, with about 40 acres currently under development. This parcel alone holds potential revenue of ₹9,000 cr. The remaining 60 acres are expected to yield another ₹16,000 cr in the future.
On top of that, six joint development agreements (JDAs) across Mumbai, such as Bandra, Mahim, Sion, and Wadala, carry a gross development value of ₹14,000 cr.
Altogether, the total pipeline is worth ₹40,000 cr in GDV.
Valuation and Broker Estimates
Before the listing, SBI Securities pegged fair value at ₹1,148 per share, based on a projected 10% EBITDA growth and a 13× EV/EBITDA multiple.
Brokerages expected the listing price to range from ₹897 to ₹1,430.
Ventura Securities forecasted a target of ₹1,383 for FY 28, estimating strong revenue and cash flow growth.
Systematix foresaw a debut at ₹1,076 and projected an operating profit of ₹597 cr in FY 26.
Listing Day Performance
Raymond Realty began trading at ₹1,000 on NSE and ₹1,005 on BSE, about 3-4% below its discovery price (₹1,039 on NSE, ₹1,031 on BSE).
The shares then surged 5% to hit their 5% upper circuit, peaking at ₹1,050 on NSE and ₹1,055 on BSE.
After a midday dip, the stock dropped about 3% to ₹967.7 on NSE. Intraday trading ranged from ₹954 to ₹1,055.
Impact on Parent & Lifestyle Units
The listing sparked a big rally in Raymond Ltd. shares, which jumped around 15% to ₹718 on June 30, just before the debut.
Raymond Lifestyle stock also rallied by about 16% on the same day.
Strategic Outlook & Value Unlocking
With the demerger, each business now stands alone. We can clearly track real estate against lifestyle and engineering.
The mix of owned land and JDAs allows for fast expansion with little upfront cash. This asset-light model supports healthy margins and keeps debt low.
The focus is on Mumbai’s premium housing market. The aim is to launch six residential projects this fiscal, targeting sales of ₹3,000 cr and a revenue potential of ₹14,000 cr.
Risks & Analyst Concerns
Even though brokerages remain upbeat, the listing discount suggests some market caution. Real estate markets can shift quickly.
The company must deliver on its JDAs and develop the Thane land parcel on time. Delays or cost overruns may weigh on profitability.
Also, regulatory changes and interest rate trends could affect buyer demand.
What Investors Should Watch
We will track the Raymond Realty share price against the Nifty Realty to see how it performs.
New project launches, pre-sales figures, and JDA closures will offer hints on future growth.
We also need to watch quarterly earnings for margin trends, cash flow, and balance sheet health.
Finally, macro factors like home loan rates and urban demand will influence the outlook.
Wrap Up
Raymond Realty’s debut on July 1 marks a key moment in the Raymond Group’s transformation.
We now have a standalone real estate company with strong fundamentals and a clear focus.
While first-day trading showed mixed reactions, the long-term opportunity depends on execution.
If the company delivers on its land plans and JDA strategy, it can unlock great value for investors.
Today’s listing is just the first step in Raymond Realty’s journey.
Frequently Asked Questions (FAQs)
Analysts expect Raymond Realty’s target price to be between ₹1,100 and ₹1,400, based on future sales and project growth. The exact price may change with time.
In the demerger, for every 1 Raymond Ltd share, investors got 1 Raymond Realty share. The stock price was adjusted to reflect this share split.
Raymond Realty’s share fell after listing due to market profit booking and a cautious investor mood. Some people sold early to lock in quick gains.
It depends on your goals. Raymond looks strong long-term, but short-term prices may move up or down. Always check company news and your risk level.
Disclaimer:
This content is for informational purposes only and not financial advice. Always conduct your research.