Raymond Ltd reported a substantial rise in consolidated Q2 net profit, doubling year-on-year (YoY) to Rs 59 crore from Rs 27.8 crore, driven by robust growth in its real estate and engineering businesses.
Revenue from operations surged to Rs1,044.7 crore, up from Rs 470 crore in the same period last year, while EBITDA climbed to Rs 116 crore from Rs 55.8 crore YoY. The EBITDA margin, however, dipped slightly to 11.1% from 11.9% a year ago.
Gautam Hari Singhania, Chairman and Managing Director of Raymond Ltd, highlighted the company’s momentum in real estate and engineering, particularly following the launch of Park Avenue - High Street Reimagined, a pioneering retail space in Thane aimed at enhancing Raymond Realty's residential projects. “Project execution remains our USP as our endeavour is to continue to deliver before RERA timelines,” he said.
Raymond's real estate business posted revenue of Rs 571 crore, growing 135% YoY, and reported sales of Rs 562 crore for the quarter. The segment’s EBITDA soared to Rs 112 crore in Q2 FY25, up from Rs 47 crore a year ago. The engineering business also performed robustly, with revenue climbing 121% YoY to Rs 443 crore, achieving an EBITDA margin of 11%. Growth was driven by strong domestic demand for flex plates, ring gears, and shaft bearings, though exports faced challenges from geopolitical and demand-related issues.
