@Azhar_12 No dearth of names from the Realty space in the below list. The sector is going through tough times, same is evident in Q3 results. RRs Q3 also should be out soon, numbers/ outlook will give some picture where it stands vis-a-vis.
Disc.: not invested, not a buy/ sell advice. Please DYOR.
The Address by GS, Wadala launched officially. It was planned by Q3 end itself, so a delay of 3-4 weeks here.
One thing that I have a doubt about is that at the time of signing of project they mentioned GDV of 5000 crores. According to JDA documents available on RERA website, the revenue share of 62:38 is mentioned with 62 being with RRL and rest with the partner (Messrs Renaissance Spaces) who is managing the slum rehabilitation associated with this project. So, a conservative revenue potential estimate of this project will be 3100 crores if my understanding is correct.
If they can sell it then it will translate to at least 50 Crores of cashflow on average for next 6-7 years.
Assuming 10% NPM.
Margin of safety further enhanced.
Someone please give me the estimated market value of RR with respect to their revenues, assets, etc.
I have written about this on the thread and on my page
Estimates
Liquidation Valuation
Interesting
Raymond Limited (Promoter Group) Seems to have acquired 1,00,000 shares in the company
Promoter stake increased by 0.15%
Raymond Realty market cap: INR 2761cr
Average Quarterly cash collections: INR 460cr
Pending collections from SOLD inventories: INR 2681 cr
Added more to the position
How did you arrive at this figure
They report quarterly cash collections from customers in their investor presentations.
https://raymondrealty.in/investor/mainpage/investor-presentation-Q2-FY26.pdf
The pending collections from sold inventories is also from the investor presentation
Here’s something interesting I missed
Raymond Realty wants to create a trust to issue ESOPs with an exercise price of INR 404
What’s interesting is that they have also included a proposal to buy 3,00,000 shares from secondary transactions (from the public markets) for the trust that wants to give 16,80,000 ESOPs.
so if the shareholder approval goes through after voting period after February 21st, we have a buyer (the company and the trust) who is happy to buy 3,00,000 shares at any price below 404 as they will ultimately issue this to the company employees at 404 (exercise price)
Thane micro market has two peculiar features existing at the same time.
One Over supply and second increasing prices. Both can’t happen at same time.
So my thinking is there is over supply in Thane but of undesirable projects. Good projects are selling like hot cakes and that’s why prices are increasing. There undesirable projects leads to headlines like inventory of 72 months.
This paradox exists almost everywhere and I talked to few local property dealers to confirm this and they say this phenomenon occurs almost everywhere.
I am not from Mumbai.So if anybody local can confirm this trendz I will be greatful.
Invested and planning to Go big.
So basically they will buy @404 or any price below that , meaning that there is a temporary bottom until they complete all the purchase necessary, which is a good thing right?
In theory, yes
This is pending shareholder approval, voting ends on February 21 2026, so I would assume it would go live after that.
This is out of topic question , does any one knows how reality stock revenue is calculated is this based on sales or the % of constructions completed for ex: sales in Q3 or % of completion of project in Q3
Based on percentage of completion method - usually done on cost incurred for Raymond Realty
Assume 5 year project
100rs booking value
estimated total cost is 50rs
In year 1 they incur 10rs of costs (20% of total costs), so in year 1 they recognise 20% of total booking value: 20%*100 = 20rs year 1 revenue
Slight arithmetic error here, so projected booking value for H2FY26 as per company would be ~ 2050 crores and taken together with H1 numbers, pre sales for FY26 should be ~2800crores which is growth of ~21% YoY. Given the history that the management is conservative in giving guidance, my estimate of pre sales for FY26 is between 2900-3000 crores.
apologies, you are right, more than a slight arithmetic error.
FY26 Bookings would be 760/27%=2,815 cr
Thank you @yeshas7 I got you. complete make sense now I will be continue invested on this , Expecting good results then in Q3 today , I will add concall details in the evening
Q3 bookings at 750 crores. Q4 has to be 1300+crores to meet the projected numbers. Not sure if they can achieve but new launches can make it happen
In the investor presentation (attached screenshot), can anyone clarify the numbers for revenue recognition? For eg, in the BKC project launched last month, they have recognized 175 crores revenue in Q2 (way before project itself was launched). The revenue recognized 261 crores is higher than the booking value of 224 crores….
Same for the Sion project, revenue is already recognized even before project launch.
