Raymond Realty Receives BSE and NSE In-Principle Approval for Listing of 13,80,588 Equity Shares Under ESOP 2025

Exchange Green Light for Raymond Realty ESOP Scheme

Raymond Realty Limited received in-principle approval from BSE (ref: DCS/ESOP/IP/RD/064/2026-27) and NSE (ref: NSE/LIST/54510) on May 12, 2026, for the issue and listing of 13,80,588 equity shares of Rs.10 each under the Raymond Realty Employees Stock Option Plan 2025 (RRL ESOP 2025).

The approvals follow strong shareholder backing. Raymond Realty's shareholders approved the ESOP plan on February 21, 2026, with the main resolution passing with 99.71% in favour. This level of support underscores employee benefit initiatives during a period of significant corporate transition for the company.

Context: Demerger and Standalone Listing

Raymond Realty, the real estate arm of Raymond Limited, was demerged on May 1, 2025, as part of a strategy to create focused, pure-play business verticals. The company was demerged from Raymond Limited with a demerger ratio of 1:1 and listed on BSE and NSE on July 1, 2025, as a standalone entity.

This ESOP listing approval represents the first material step toward employee incentivization as a pure-play real estate company. Implementing the ESOP plan is a strategic move to attract, retain, and motivate key talent, aligning employee interests with the company's long-term growth objectives.

The ESOP Framework

The approvals are subject to fulfilment of stipulated listing conditions, governed by SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. Key conditions include notification to exchanges after allotment of shares and credit to beneficiaries' accounts, payment of prescribed fees, and receipt of all statutory approvals.

Recent filings show preliminary steps toward implementation. Raymond Realty granted 6,98,567 stock options to eligible employees under the ESOP 2025 on June 5, 2026, at an exercise price of ₹404.80 each, linked to financial metrics including Cumulative Consolidated Thane Revenue and PBT.

Listing Conditions and Next Steps

Both exchanges have reserved the right to withdraw their in-principle approvals if information submitted is found to be incomplete, incorrect, misleading, or false. The company must submit documentation checklists from both exchanges and comply with SEBI (Listing Obligations and Disclosure Requirements) Regulations before shares can be listed and traded.

Raymond Realty stated this information will be made available on its website at www.raymondrealty.in in accordance with SEBI Listing Regulations. Company Secretary Hiren Sonawala signed the disclosure on May 12, 2026.

Financial Context

The ESOP approval arrives as the company reports strong operational momentum. Consolidated total income for FY26 stood at ₹3,03,942 lakhs compared to ₹56,730 lakhs in FY25, with net profit for the year at ₹30,459 lakhs against ₹1,777 lakhs in FY25. The board recommended a dividend of ₹2 per equity share, subject to shareholder approval at the 7th Annual General Meeting scheduled for July 14, 2026.

The company has established a substantial project pipeline with potential revenue exceeding ₹40,000 crore, built upon its owned land parcel in Thane and joint development agreements (JDAs) across the Mumbai Metropolitan Region.