BackOberoi Realty Q1 net profit up 1%
Revenues rose by 9.25% to Rs218.4 crore in the first quarter of fiscal 2014
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Mumbai: Oberoi Realty Ltd, India’s second largest developer by market value, posted a net profit of ₹ 101.8 crore in the three months ended June, up 1% compared with a year-ago period.
Revenues of the Mumbai-based developer rose by 9.25% to ₹ 218.4 crore in the first quarter of fiscal 2014.
Chairman and managing director Vikas Oberoi said, “While the global and domestic headwinds have intensified, our order books remain healthy reflecting the confidence of our customers. We believe that reputed developers with sound financial standing will continue to attract healthy demand for their projects. We will continue to focus on being financially prudent while continuously exploring opportunities to acquire land."
Shares of the company closed on Monday at ₹ 217.05, up 1.88% while the benchmark BSE Sensex closed at 20,034.48 at 0.38%.
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