Oberoi Realty Q1 consolidated net profit down 5%
Oberoi Realty has reported nearly 5% year-on-year drop in its consolidated net profit at Rs 100.80 crore for the quarter ended June 30.
By Kailash Babar, ET Bureau | Updated:
MUMBAI: Property developer Oberoi Realty has reported nearly 5% year-on-year drop in its consolidated net profit at Rs 100.80 crore for the quarter ended June 30. Revenue for the quarter rose 7.3% to Rs 230.79 crore, the company said in a release.
The Mumbai-based developer's investment properties including retail, office space and hotel together contributed 53.11 crore to total revenue. At four of its residential development properties, the company sold 1.18 lakh sq ft during the quarter.
""Our business continues to generate healthy cash flows from operations and we have managed to maintain strong order book. Moving forward, we will continue our strategy of financial prudence and exploring the right opportunities to acquire land," said Vikas Oberoi, CMD, Oberoi Realty.
On Friday, shares of Oberoi Realty closed at Rs 233.85 on the Bombay Stock Exchange, down 1.3% from Thursday.
The Mumbai-based developer's investment properties including retail, office space and hotel together contributed 53.11 crore to total revenue. At four of its residential development properties, the company sold 1.18 lakh sq ft during the quarter.
""Our business continues to generate healthy cash flows from operations and we have managed to maintain strong order book. Moving forward, we will continue our strategy of financial prudence and exploring the right opportunities to acquire land," said Vikas Oberoi, CMD, Oberoi Realty.
On Friday, shares of Oberoi Realty closed at Rs 233.85 on the Bombay Stock Exchange, down 1.3% from Thursday.
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