BackOberoi Realty Dec quarter profit rises 16.41% to `79.23 cr
The developer saw a 27.28 % jump in its fiscal third-quarter revenue to `217.06 crore from the year-ago period
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Bengaluru: Mumbai-based real estate firm Oberoi Realty Ltd posted a 16.41% rise in net profit for the three months ended December to ₹ 79.23 crore on better sales and cash flow.
The developer saw a 27.28 % jump in its fiscal third-quarter revenue to ₹ 217.06 crore from the year-ago period.
Earlier this week, Oberoi Realty launched two new residential projects—Eternia and Enigma—in suburban Mulund, Mumbai, spread across nearly 18 acres. Last year, it had partnered the Ritz-Carlton for the hospitality portion of a mixed-use development in south Mumbai’s Worli area.
Multiple project launches in the pipeline will give Oberoi Realty the much-needed spur in sales volumes and it will be well-placed to ride the recovery in the Mumbai property market, analyst Adhidev Chattopadhyay of HDFC Securities Ltd said in a report on Monday.
Oberoi Realty Ltd dropped 0.81% to ₹ 268.65 on Friday on BSE, while the benchmark Sensex gained 0.17% to 28,121.89 points and BSE Realty Index gained 0.52% to close at 1,619.87 points.
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