Oberoi Realty Q1 results: Co reports net profit at Rs 81 crore

MUMBAI: Realty developer Oberoi Realty has reported a consolidated net profit of Rs 80.81 crore, up 176 per cent from a year ago. However, net profit for the quarter witnessed nearly 72 per cent decline sequentially.

The developer reported consolidated revenues of Rs 294.77 crore for the quarter as against Rs 126.86 crore a year ago and Rs 800.87 crore in the previous quarter.

“The real estate sector is undergoing major consolidation as very few developers have the financial stability to undertake large capital-intensive projects. Therefore, the market share of reputed brands with strong execution capabilities will continue to grow. This places Oberoi Realty in an exceptional position to leverage our strong financial governance and deliver value to all our stakeholders,” said Vikas Oberoi, Chairman & Managing Director, Oberoi Realty.


According to him, the company has a robust pipeline of new launches designed while keeping in mind the new requirements of the homebuyer post the pandemic.

The developer has received bookings for 0.92 lakh sq ft area during the quarter, as against 0.12 lakh sq ft booked a year ago. The total value of these bookings in the June quarter stood at Rs 169.97 crore as against Rs 24.79 crore during the year-ago period.