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Oberoi Realty advances after good Q4 result

Oberoi Realty gained 4.1% to Rs 541.80 at 10:21 IST on BSE after consolidated net profit rose 8.98% to Rs 155.76 crore on 69.17% rise in total income to Rs 598.70 crore in Q4 March 2019 over Q4 March 2018.

The result was announced after market hours on Friday, 10 May 2019.

Meanwhile, the S&P BSE Sensex was up 71.91 points or 0.19% at 37,534.90

On BSE, so far 30,000 shares were traded in the counter as against average daily volume of 37,000 shares in the past two weeks. The stock hit a high of Rs 550 and a low of Rs 518.50 so far during the day.

Oberoi Realty's EBITDA was Rs 233.52 crore for Q4 March 2019 as against Rs 191.22 crore for Q4 March 2018. Total area booked for Q4 March 2019 was 1.45 lakh sq. ft. as against 1.31 lakh sq. ft. booked in Q4 March 2018 and the total value was Rs 319.14 crore for Q4 March 2019 as against Rs 263.32 crore for Q4 March 2018.

Commenting on the results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said 2018 saw the formalization of the Indian economy and a complete transformation of the real estate sector. The residential projects continue to receive a promising response from home buyers and diversified verticals have also been performing well.

Oberoi Realty is India's leading real estate development company, headquartered in Mumbai. It is focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.

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