Textiles company Raymond announced Q3FY24 results: 10th consecutive quarter of profitable growth During this quarter, revenue increased by 11% YoY, reaching Rs 2,450 crore, with an EBITDA margin of 17.4%. The net profit almost doubled to Rs 184 crore in Q3FY24 compared to Rs 95 crore in Q3FY23 Branded Apparel business grew by 20% compared to the same quarter last year Real Estate business showcased a revenue growth of 50% same quarter last year The Company is running projects worth Rs 9,000 crore. on its Thane land and has a further potential to generate Rs 16,000 crore. making a total potential revenue of Rs 25,000 crore from the Thane landbank. Based on the corporate action initiated, the proposed demerger of Lifestyle Business is on track and the company has received the SEBI approval for the same. The Extraordinary General Meeting (EGM) for shareholders and other relevant meetings is scheduled on 26th Feb 2024 Commenting on the performance, Gautam Hari Singhania, Chairman & Managing Director, Raymond said; “I am delighted to share that Q3 has been momentous quarter, as we have delivered 10th consecutive quarter of growth with highest ever revenue and profitability across businesses. Our retail expansion continued, and we have an aggressive plan to open over 500 stores during the next 3 years. In the Real Estate business, we signed 2 JDAs with over Rs 3,000 crore during the quarter as well. Another big development in the third quarter of this fiscal, Raymond Group’s Engineering Business is now set to grow exponentially as we foray into sunrise sectors of Aerospace, Defence and EV components business post the acquisition of Maini Precision Products Limited.” Result PDF