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Raymond Realty Doubled Pre-Sales Without a New Launch: Is Sustenance Demand a Better Signal Than Launch-Day Bookings?
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Is Selling Existing Inventory a Better Demand Signal Than a Big New Launch?
Raymond Realty reported ₹902 crore of Q2 FY27 pre-sales, up 98% year on year.
What makes the number unusual?
It launched no new project during the quarter.
The bookings came entirely from existing projects.
Collections also rose 67% to ₹682 crore.
That can provide a different signal from a blockbuster launch.
New projects can concentrate months of buyer interest into a short booking window. Sustenance sales show whether buyers continue purchasing after the initial launch excitement has passed.
But existing inventory eventually runs out.
Raymond Realty's next test is therefore its pipeline.
Two Mahim projects with combined GDV exceeding ₹4,100 crore are planned for FY27.
Meanwhile, gross borrowings increased by ₹125 crore during Q2 to ₹1,220 crore, while net debt stood at ₹914 crore.
The question is whether Raymond Realty can combine strong existing-project sales, successful new launches and rising collections while keeping leverage controlled.
See Link -> Raymond Realty sees 98% Q2 pre-sales growth, keeps leverage below ceiling
Which tells you more about genuine housing demand: a huge launch-day sell-out, or a developer nearly doubling bookings without launching anything new?