Oberoi Realty Ltd Share Price – NSE  /  BSE

Realty, Small Cap

In Q4 FY24, in terms of volume, the Mumbai based realty developer company booked 4,48,844 square foot (Sq.ft) area while 228 units were booked.

On financial year 2024 basis, the company’s booking value stood at Rs 4,007 crore in FY24. Carpet area of 10,76,192 sq.ft and 705 units booked in FY24.

Oberoi Realty is India's leading real estate development company. It is focused on premium developments in the residential, office space, retail, hospitality, and social infrastructure verticals.

The company’s consolidated net profit dropped 48.74% to Rs 360.15 crore on 35.34% decline in revenue from operations to Rs 1053.64 crore in Q3 FY24 over Q3 FY23.

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Oberoi Realty today entered into an agreement with Marriott International, aimed at enriching luxury living experiences in the Mumbai Metropolitan Region. The agreement marks the development of two Marriott properties: JW Marriott Hotel Thane Garden City and Mumbai Marriott Hotel Sky City in Borivali, both set for completion in 2027-2028.

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Oberoi Realty announced the resignation of Sanjay Kumar as COO- Construction of the company with effect from 02 February 2024.

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Profit before tax slipped 48.38% year on year to Rs 479.33 crore in the quarter ended 31 December 2023.

The company’s revenue from Real estate business stood at Rs 1,004.41 crore (down 36.73% YoY) while Hospitality income was at Rs 49.23 crore (up 17.49%) during the quarter.

For 9M FY24, the real estate developer’s consolidated net profit fell 20.06% to Rs 1,138.58 crore as against Rs 1424.26 crore in 9M FY23. Revenue stood at Rs 3,181.02 crore in nine months ended December 2023, up 1.55% YoY.

Vikas Oberoi, chairman & managing director, Oberoi Realty, said, “Amid global headwinds, our strong macro fundamentals have firmly cemented India's repute as one of the fastest growing major economies. The real estate sector continues to scale new heights on the back of increased consumer confidence, rising disposable income and robust demand across segments.

During the quarter, we acquired 14.8 acres land parcel in NCR which marks our expansion into a new geography and also launched Forestville, our first residential project in Thane which generated a healthy demand from customers.”

Meanwhile, the company’s board has second interim dividend of Rs 2 per r equity share for FY24. The record date for the same is fixed on Friday, 2 February 2024 and the dividend will be paid from 13 February 2024.

Separately, the firm has launched a new tower in Elysian at Oberoi Garden City, Goregaon on 19 January 2023 and recorded gross booking value of approximately Rs 882 crore for around 2.20 lakh square feet (carpet area).

Oberoi Realty is a Mumbai based real estate development company. It is focused on premium developments in the residential, office space, retail, hospitality and social infrastructure projects.

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