Oberoi Realty Q3 sales bookings jump 2-fold to Rs 1,965 cr

Mumbai-based Oberoi Realty has reported over two-fold jump in its sales bookings at Rs 1,965 crore for the third quarter ended December on higher demand.

In regulatory filings on Friday, Oberoi Realty has shared a summary of bookings made by the company for the third quarter of this financial year (on a consolidated basis).

Its sales bookings rose to Rs 1,965 crore during the October-December quarter from Rs 971 crore in the year-ago period.

Oberoi Realty sold 371 units during the last quarter against 234 units a year ago.

During the first nine months of 2021-22, the company's sales bookings jumped more than two-fold to Rs 2,964 crore from Rs 1,323 crore in the year-ago period. It sold 610 units during the April-December period of 2021-22 as against 284 units in the same period of the last fiscal.

Earlier this week, Macrotech Developers reported a 40 per cent increase in its sales bookings to Rs 2,608 crore during the third quarter of this fiscal from Rs 1,862 crore in the year-ago period.

According to property consultants, housing demand across major 7-8 cities has recovered sharply after the second wave of the COVID pandemic that hit sales during the April-June period last year.

The market share of trusted real estate developers in the overall housing sales is gradually increasing as homebuyers have become risk-averse.

As per reports of various consultants, housing sales in the 2021 calendar year increased sharply by 50-70 per cent from the previous year. However, sales are yet to reach the 2019 pre-COVID levels.