Oberoi Realty Q4 net up by 30.16% at Rs 136.7 crore

MUMBAI: Oberoi Realty has reported a 30.16% higher fourth quarter consolidated net profit of 136.66 crore on a revenue of 295.38 crore.

The company sold 300,000 sq ft of residential space in the last quarter of the year aided by launch of its 1.5-million-sq ft premium housing project, Oberoi Esquire, at Goregaon suburb of Mumbai.

For the fiscal ended March 31, Oberoi Realty's consolidated profit rose 13% to 517.18 crore. Revenue grew 31.4% to 1,058.78 crore, of which 786 crore were derived from residential sales while rentals at the company's commercial complex contributed 111 crore. The company sold 700,000 sq ft residential space in the year.

"We will launch the Worli project post finalisation of the hotel operator," said CMD Vikas Oberoi. He confirmed ET's story on Wednesday that the company was in talks with Mandarin Oriental for this contract.