Oberoi Realty Q4 net up 30% at Rs 136 cr

Oberoi Realty today reported 30.16% jump in its consolidated net profit for the quarter ended March 31, 2011, at Rs 136.66 crore.

The company had posted a net profit of Rs 104.99 crore in the corresponding period last year, Oberoi Realty said in a filing to the Bombay Stock Exchange (BSE).

The total income during the fourth quarter also increased by 58.17% to Rs 266.76 crore from Rs 168.65 crore in the year-ago period, it added.

For the entire 2010-11 financial year, the consolidated net profit went up by 12.88% to Rs 517.18 crore from Rs 458.18 crore in the same period previous fiscal.

The consolidated total income in last fiscal stood at Rs 996.04 crore compared to Rs 789.88 crore in the year-ago period, up 26.10%, the company said.

The company's board has recommended a 10% dividend, which is Re 1 per equity share, for 2010-11.

"The response to our newly launched residential project has been very encouraging and indicates the aspirational power of our brand. The high occupancy rates of our office space and retail projects ensure a steady rental income for our company," Oberoi Realty Chairman and MD Vikas Oberoi said.

Shares of the company today closed 3.93% up at Rs 256.70 on the BSE.