Oberoi Realty logs a nearly 3-folds rise in Q1 PAT to Rs81cr

Consolidated Revenues increased to Rs294.77cr in the quarter under review against Rs126.86cr. for Q1FY21.

Jul 30, 2021 09:07 IST India Infoline News Service

Oberoi Realty registered a consolidated net profit of Rs80.81cr for the quarter ending June 2021 (Q1FY22) period recording a nearly three-fold rise as against Rs29.27cr a year ago same quarter. However, Q1FY22 PAT more than halved from Rs287.47cr of the preceding quarter.

Consolidated Revenues increased to Rs294.77cr in the quarter under review against Rs126.86cr. for Q1FY21. Sequentially, the revenue was lower as the company had posted a top-line front of Rs800.87cr for Q4FY21.

The company's total area booked for Q1FY22 was 0.92 lakh sq. ft. as against 0.12 lakh sq. ft. booked in Q1FY21 and the total value was Rs169.97cr for Q1FY22 as against Rs24.79cr for Q1FY21.

Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, “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 executional 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."

The Chairman added, "We also have a robust pipeline of new launches with “first of a kind” design concept. These are specially created keeping in mind the new requirements of the homebuyer post the pandemic. We believe that despite the pandemic, Oberoi Realty is resilient to perform, progress and deliver excellence. We will continue to focus on customer centric designs, execution and delivery thus meeting all our commitments.”

On Friday, Oberoi Realty stock will be in focus following its Q1 earnings. In the pre-market opening, at around 09.04 am, on Sensex, Oberoi Realty is trading at Rs680 per piece down by 1.5%. 

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