The *.ra file is the actual real audio file. prasad90 will need to check
on the real audio site & forums for this, as I feel sure he will need a licensed version of something like Real Producer and info on accessing it's interface programatically (probably via DLL) to create *.ra files.
On the other hand - *ram files are easy - just text files containing the URL pointing to the actual *.ra file.
If you are looking to grab some audio and encode to real audio (or any other format) there is no "point and click, copy and paste" solution that I know of.
Here is a link (given to me by someone - thanks!) to some software for mp3 file manipulations -
http://lame.sourceforge.net/
The process seems quite involved...
Phil J.