Oberoi Realty Q2 pre-sales jump seven-fold to Rs 9,149 crore on strong sales in Gurugram housing market
Oberoi Realty Ltd reported a remarkable increase in sales bookings to Rs 9,149.69 crore in the second quarter. The company launched its first luxury housing project in Gurugram, resulting in high demand and strong sales. During the first half of t...
By PTI |
New Delhi, Oberoi Realty Ltd's sales bookings jumped sevenfold year-on-year to Rs 9,149.69 crore in the second quarter of this fiscal on strong sales from its first Delhi-NCR housing project.
Sales bookings or pre-sales stood at Rs 1,299.06 crore in the year-ago period.
According to its latest investors' presentation, Mumbai-based Oberoi Realty Ltd sold 808 units in the September quarter compared to 158 in the year-ago period.
In terms of volumes, sales rose to 15.83 lakh square ft from 2.5 lakh square ft.
In the first six months of this fiscal, Oberoi Realty's sales bookings jumped to Rs 10,199.57 crore from Rs 2,937.73 crore in the corresponding period of the preceding year.
The sharp jump in its pre-sales is driven by a strong foray into the Delhi-NCR residential market.
On June 29, the company launched its first luxury housing project in Gurugram with a total investment of Rs 6,000 crore and a revenue potential of Rs 16,000 crore.
According to the presentation, the company sold 614 units for Rs 7,891.14 crore in this 14.8-acre project -- 'Three Sixty North' on Golf Course Extension Road, Gurugram.
"The demand in India for real estate continues to be driven by preference for quality, brand credibility and execution, with established developers and proven delivery track records continuing to attract sustained interest," said Vikas Oberoi, the company's Chairman and Managing Director.
On Friday, Oberoi Realty reported a consolidated net profit of Rs 761.65 crore for the quarter ended September, a marginal increase from the year-ago period.
Its net profit stood at Rs 760.26 crore in the year-ago period.
Total income fell 6 per cent to Rs 1,736.37 crore in the second quarter of this fiscal from Rs 1,844.84 crore in the corresponding period of the preceding year.
The company's expenses fell to Rs 744.94 crore from Rs 863.35 crore, helping it register a marginal growth in profit in the September quarter.
During the first half of this fiscal, the company's profit rose to Rs 1,305.16 crore from Rs 1,181.51 crore in the year-ago period.
Total income increased to Rs 3,098.06 crore from Rs 2,918.82 crore.
Oberoi Realty is one of the leading real estate developers in the country.
It mainly focuses on the development of luxury homes and commercial properties.
Sales bookings or pre-sales stood at Rs 1,299.06 crore in the year-ago period.
According to its latest investors' presentation, Mumbai-based Oberoi Realty Ltd sold 808 units in the September quarter compared to 158 in the year-ago period.
In terms of volumes, sales rose to 15.83 lakh square ft from 2.5 lakh square ft.
In the first six months of this fiscal, Oberoi Realty's sales bookings jumped to Rs 10,199.57 crore from Rs 2,937.73 crore in the corresponding period of the preceding year.
The sharp jump in its pre-sales is driven by a strong foray into the Delhi-NCR residential market.
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On June 29, the company launched its first luxury housing project in Gurugram with a total investment of Rs 6,000 crore and a revenue potential of Rs 16,000 crore.
According to the presentation, the company sold 614 units for Rs 7,891.14 crore in this 14.8-acre project -- 'Three Sixty North' on Golf Course Extension Road, Gurugram.
"The demand in India for real estate continues to be driven by preference for quality, brand credibility and execution, with established developers and proven delivery track records continuing to attract sustained interest," said Vikas Oberoi, the company's Chairman and Managing Director.
On Friday, Oberoi Realty reported a consolidated net profit of Rs 761.65 crore for the quarter ended September, a marginal increase from the year-ago period.
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Its net profit stood at Rs 760.26 crore in the year-ago period.
Total income fell 6 per cent to Rs 1,736.37 crore in the second quarter of this fiscal from Rs 1,844.84 crore in the corresponding period of the preceding year.
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The company's expenses fell to Rs 744.94 crore from Rs 863.35 crore, helping it register a marginal growth in profit in the September quarter.
During the first half of this fiscal, the company's profit rose to Rs 1,305.16 crore from Rs 1,181.51 crore in the year-ago period.
Total income increased to Rs 3,098.06 crore from Rs 2,918.82 crore.
Oberoi Realty is one of the leading real estate developers in the country.
It mainly focuses on the development of luxury homes and commercial properties.
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