Raymond Realty's Q2 FY26 profit leapt 12-fold year-on-year to ₹60.2 crore as revenue climbed 208% to ₹696.5 crore, reflecting solid traction at Ten X Era and The Address by GS. Despite lower bookings and collections, its ₹40,000 crore potential from Thane land and six JDAs underscores strong long-term fundamentals. Shares have dropped 32.5% in last 4 months.