Oberoi Realty advances after strong Q1 result

Oberoi Realty rose 1.58% to Rs 500 at 10:39 IST on BSE after consolidated net profit surged 238.65% Rs 309.42 crore on 230.78% jump in total income to Rs 896.47 crore in Q1 June 2018 over Q1 June 2017.

The result was announced after market hours yesterday, 30 July 2018.

Meanwhile, the S&P BSE Sensex was down 146.34 points or 0.39% at 37,348.06

On BSE, so far 38,000 shares were traded in the counter as against average daily volume of 9,321 shares in the past two weeks. The stock hit a high of Rs 518 and a low of Rs 494 so far during the day. The stock had hit a record high of Rs 609.40 on 24 April 2018. The stock had hit a 52-week low of Rs 352 on 10 August 2017.

The large-cap company has equity capital of Rs 363.60 crore. Face value per share is Rs 10.

Oberoi Realty said that the company's order book stands at Rs 4429.62 crore at the end of Q1 June 2018 as against Rs 5360.82 crore at the end of Q4 March 2018 and Rs 5043.07 crore at the end of Q1 June 2017.

Total area booked for Q1 June 2018 was 2.87 lakh sq. ft. as against 0.98 lakh sq. ft. booked in Q1 June 2017 and the total value was Rs 623.46 crore for Q1 June 2018 as against Rs 287.92 crore in Q1 June 2017.

Commenting on the results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said in the last six months the company has delivered over 23 lakh sq. ft. area.

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

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