Vikas Oberoi, CMD, Oberoi Realty Limited

"With a robust project pipeline across key locations in Mumbai; Borivali, Goregaon, Mulund and Worli and a relentless focus on design, quality and execution, we are confident that the company will continue to create value for its stakeholders."

Jan 21, 2016 02:01 IST IIFL Yash Ved |

Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited has been on board since incorporation of the company. He has more than two decades of experience in the real estate sector. He is involved in the formulation of corporate strategy and planning, overall execution and management and concentrates on the growth and diversification plans of the company.
 
Oberoi Realty Ltd. is India’s leading real estate development company, headquartered in Mumbai, focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals. Oberoi Realty has an established brand and a track record in the real estate industry of developing innovative projects through its emphasis on contemporary architecture, strong project execution and quality construction. Oberoi Realty seeks to create “destination developments” through its mixed-use and single-segment developments. It has a total of 39 completed projects across Mumbai, the commercial capital of India.
 
Yash Ved of IIFL provides you the highlights of a conference call, where Vikas Oberoi says "With a robust project pipeline across key locations in Mumbai; Borivali, Goregaon, Mulund and Worli and a relentless focus on design, quality and execution, we are confident that the company will continue to create value for its stakeholders."
 
Brief us about your Financials?
Oberoi Realty Limited has recorded consolidated revenues at Rs. 790.33 crore for Q3FY16 as against Rs. 219.60 crore for Q3FY15 and Rs 1,206.95 crore for 9MFY16 as against Rs. 590.81 crore for 9MFY15.
 
The consolidated profit before tax for Q3FY16 is Rs. 323.86 crore as against Rs. 119.19 crore for Q3FY15 and Rs. 552.95 crore for 9MFY16 as against Rs 316.72 crore for 9MFY15.
 
The Consolidated Profit After Tax for Q3FY16 is Rs. 209.35 crore as against Rs. 79.23 crore for Q3FY15 and Rs. 361.36 crore for 9MFY16 as against Rs. 214.10 crore for 9MFY15.
 
What is your outlook on the real estate sector?
The state government’s continuous emphasis on fast-tracking key projects like the Mumbai Metro, the Coastal Road and the trans harbour link are significant steps in making Mumbai a truly global city.
 
These initiatives will drive Investments into the city, improve the quality of life of its residents and act as catalysts for increasing demand in the financial capital.
 
Brief us about the project launch of Borivali project?
We successfully launched our project, Sky City in Borivali and are thankful to our customers who have reinstated their faith in Oberoi Realty by creating record sales for our company.
 
What are the new project launches for the coming quarters?
With a robust project pipeline across key locations in Mumbai; Borivali, Goregaon, Mulund and Worli and a relentless focus on design, quality and execution, we are confident that the company will continue to create value for its stakeholders.
 
What were the Key Developments during the quarter?
The company launched 3 towers on 30th October, 2015.
 
The company sold 619 units in its newly-launched project 'Sky City' for Rs 1,567.15 crore.
 
Your current EBITDA margin for the quarter for 9M FY16 ending?
The EBITDA margin for 9M FY16 ending stands at 48.87%.

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