Q2 bookings, launches to maintain sales momentum for Oberoi Realty

Sharp run in stock prices over the past three months, however, caps near term upside

The Oberoi Realty stock gained 7 per cent since its results on October 29 and is trading near its all-time high levels. The gains came on the back of strong September quarter bookings and expectations that the growth momentum would continue in the near term. While prospects are sound, valuations post a sharp 30 per cent rally over the last three months could cap near-term upsides.

After a muted June quarter, bookings in the September quarter stood at Rs 828 crore. This was up 4.9 times on a sequential basis and one and a half times its year ago levels