Raymond Ltd Soars with 75% Profit Growth: Real Estate Triumphs
Raymond Ltd has reported a notable 75% increase in consolidated net profit, reaching Rs 72.28 crore in the December quarter. This growth, compared to Rs 41.35 crore last year, is attributed to increased sales, particularly in its real estate vertical, with new projects and ongoing success in Thane.
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Raymond Ltd, a company engaged in real estate and engineering sectors, has experienced a remarkable 75 percent surge in consolidated net profit, reaching Rs 72.28 crore during the December quarter.
This impressive result comes as the Mumbai-based company's total income rose significantly to Rs 985.35 crore in the third quarter, compared to Rs 726.91 crore in the previous year. The firm, which now focuses on its real estate and engineering divisions after demerging its lifestyle business, reported strong sales bookings totaling Rs 505 crore in real estate for the 2024-25 fiscal year.
According to Chairman & Managing Director Gautam Hari Singhania, Raymond Ltd is optimistic about its future prospects, with a projected total revenue potential of Rs 32,000 crore from its real estate ventures, including developments on its Thane land parcel and joint development agreements. The company's engineering business, especially in aerospace, also shows promising growth potential.
(With inputs from agencies.)
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