Raymond Realty shares to list on stock exchanges tomorrow, brokerages see up to Rs 1,383 target price

Debut on July 1: Raymond Realty, demerged from Raymond Ltd, will list on stock exchanges Monday. Shareholders received a 1:1 share allotment.

Valuation Estimates: SBI Securities expects listing in the Rs 897–1,430 range; fair value pegged at Rs 1,148. Ventura sees a FY28 target of Rs 1,383.

Growth Strategy: Focus on Thane land, JDA-based expansion, and 15–20% annual growth targets. Plans include six new projects in FY26.

Financial Snapshot: FY25 revenue rose 45% to Rs 2,313 crore; EBITDA up 37% to Rs 507 crore. Net cash stood at Rs 395 crore as of March-end.