Oberoi Realty is trading higher by 2.3% at Rs 324 after reporting a 32% year-on-year growth in consolidated net profit to Rs 134 crore for the quarter ended December 31, 2012 on back of higher sales.
“Total income has increased by 42% to Rs 308 crore from Rs 217 crore during the same period,” the Mumbai-based real estate company said in a statement.
“There continues to be demand of quality projects by reputed developers at the right price. We have managed to keep our order book robust and our steady growth is a reflection of the confidence that our stakeholders have in Oberoi Realty,” Vikas Oberoi, chairman and managing director, Oberoi Realty said.
The stock opened at Rs 322 and hit a new high of Rs 328 on the NSE. A combined 112,655 shares have changed hands on the counter in morning deals on both the exchanges.
