Oberoi Realty Q3 consolidated net Rs 134.46 crore, up 32% on year

MUMBAI: Property developer Oberoi Realty has reported nearly 32% year-on-year rise in its consolidated net profit for the quarter ended December at Rs 134.46 crore. Total consolidated revenue for the third quarter grew nearly 42% to 308.03 crore, the company said in a release.

Oberoi Realty sold 1.18 lakh sq of space in its four ongoing residential development properties in Mumbai during the quarter. The company's investment properties including retail, office space and hospitality contributed Rs 58.54 crore to the total quarterly revenue.

"There continues to be demand of quality projects by reputed developers at the right price...We will continue to be financially prudent and explore the right opportunities to acquire land that make business sense for the company," said Vikas Oberoi, CMD, Oberoi Realty.

On Friday, shares of Oberoi Realty closed at Rs 315.70 on the Bombay Stock Exchange, up 1.7% over Thursday's close.