Oberoi Realty Q1 net profit up 33% at Rs 108 cr

Oberoi Realty Ltd's consolidated net profit increased by 33 per cent to Rs 108.88 crore for the quarter ended June.
Its net profit stood at Rs 81.93 crore in the year-ago period.
"The company has recorded consolidated revenue of Rs 330 crore for Q1, FY17 as against Rs 219 crore for Q1, FY16," the Mumbai-based developer said in a statement.
The aggregate area booked during April-June quarter of this fiscal stood at 1.47 lakh sq ft as against 0.81 lakh sq ft booked in the corresponding period of the previous year.
The order book stands at Rs 3,993 crore as against Rs 2,705 crore at the end of first quarter of last fiscal.

"Major policy and process changes along with the government's Ease-of-Doing-Business initiative and focus on fast-tracking of the approval process, have brought in fresh optimism to the markets and have been major enablers for the sector," company's CMD Vikas Oberoi said.
The long pending clearance of GST coupled with an excellent monsoon this year would bring a positive outlook for the entire Indian economy, he added.