Raymond Ltd posted a consolidated net profit of ₹60 crore in the September quarter, compared to ₹160 crore reported a year ago, while revenue was ₹1,044.7 crore compared to ₹470 crore a year ago.

It reported 75 per cent higher EBITDA at ₹175 crore, but EBITDA margin fell to 15.6 per cent from 19.2 per cent year ago.

The company now has real estate and engineering businesses in its portfolio, the lifestyle business having been demerged.

The real estate business posted revenue of ₹571 crore, with a growth of 135 per cent. It sold houses worth ₹562 crore in the quarter. The segment reported an EBITDA of ₹112 crore in Q2 FY25 from ₹47 crore year ago.

“With the launch of Park Avenue- High Street Reimagined, the first of its kind retail space in Thane, Raymond Realty has taken yet another pioneering step to create the aspirational ecosystem for its current and upcoming residential projects,” said chairman and managing director Gautam Singhania.

In the real estate business the strategy was to construct and sell fast, sim for quicker project completion and faster revenue generation.

Revenue from the engineering business rose 121 per cent to ₹443 crore. The segment delivered an EBITDA margin of 11 per cent in Q2 FY25. The performance was driven by support from the domestic markets for flex plates, ring gear and shaft bearings categories. However, exports were sluggish on account of weak demand and geopolitical issues.

“The seamless integration of Maini operations with JK Engineering has taken an affirmative shape and has started positive results with growth in the overall engineering business,” Singhania added.

The company has a net cash of ₹685 crore that would be used for future growth.

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