Oberoi Realty Q1 PAT soars 82% YoY to Rs 584 cr

The real estate developer's consolidated net profit surged 81.73% to Rs 584.51 crore in Q1 FY25 as against Rs 321.64 crore posted in Q1 FY24.

Revenue from operations climbed 54.42% to Rs 1405.16 crore in Q1 FY25 as compared to Rs 909.97 crore recorded in the corresponding quarter last year.

Profit before tax during the quarter stood at Rs 775.03 crore, registering a growth of 81.84% from Rs 426.22 crore reported in Q1 FY24.

EBITDA was at Rs 815.05 crore in the June quarter, up 72.05% as against Rs 473.73 crore posted in Q1 FY24

Vikas Oberoi, Chairman and Managing Director, Oberoi Realty said, The Indian real estate market has witnessed strong demand across various segments, solidifying its position as the preferred investment avenue.

We are pleased to announce another successful quarter, driven by healthy demand in the luxury real estate market with homeowners constantly looking to elevate their lifestyles. We are gearing up for new project and tower launches, scaling up our annuity assets and strategic land acquisitions. We are committed to achieving sustainable growth, with a focus on creating lasting value for all our stakeholders.

Meanwhile, the companys board has declared an interim dividend of Rs 2 per equity share for FY25. The record date for the same is fixed on Thursday, 1 August 2024 and the dividend will be paid starting from 12 August 2024.

Oberoi Realty is a Mumbai based real estate development company. It is focused on premium developments in the residential, office space, retail, hospitality and social infrastructure projects.

The scrip fell 2.69% to end at Rs 1,671.25 on Friday, 19 July 2024.

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