 "Oberoi Realty Q3 FY25 results: Net profit rises 71% to Rs 618.38 cr")
Mumbai-based premium real estate developer Oberoi Realty reported a 71.70 per cent year-on-year (Y-o-Y) increase in net profit for the third quarter of FY25 (Q3 FY25), reaching Rs 618.38 crore, compared to Rs 360.15 crore in Q3 FY24.
Revenue from operations for the quarter stood at Rs 1,411.08 crore, marking a 34 per cent Y-o-Y growth, though it fell short of the Bloomberg estimate of Rs 1,621 crore.
The company’s total expenses rose by 7.80 per cent Y-o-Y to Rs 652.71 crore, driven by higher costs related to land, development rights, construction, and other expenses.
For the nine months ending December 2024 (9M FY25), Oberoi Realty posted a 30.03 per cent Y-o-Y increase in revenue, totalling Rs 4,136.13 crore, while net profit surged 57.42 per cent Y-o-Y to Rs 1,792.34 crore.
The company declared its third interim dividend for FY25 at Rs 2 per equity share, representing 20 per cent of the face value of equity shares of Rs 10 each.
In October 2024, Oberoi Realty’s board of directors approved plans to raise up to Rs 6,000 crore in one or more tranches. The same month, it launched Oberoi Garden City, a luxury residential project in Thane. The 75-acre development achieved a gross booking value of Rs 1,348 crore for 5.65 lakh square feet of carpet area within the first three days of its launch.
Also Read
In December 2024, the company signed a development agreement to build luxury villas and a hotel on a land parcel spanning 81.05 acres (328,010 square metres) in Tekali, Alibaug, located in Maharashtra's Raigad district.
This acquisition brought Oberoi Realty’s new business development total to Rs 40,000 crore since FY23. According to Elara Capital, the company now has a residential pipeline worth Rs 1 lakh crore.
Sequentially, Oberoi Realty's revenue increased by 6.91 per cent, while net profit rose by 4.91 per cent. The company’s market capitalisation currently stands at approximately Rs 72,793.17 crore.