Oberoi Realty Q3 PAT nearly doubles to Rs287cr on lower OPEX

Oberoi Realty reported 57.1% growth yoy in Dec-20 quarter consolidated revenues at Rs828.41cr

January 22, 2021 6:11 IST | India Infoline News Service
Oberoi Realty reported 57.1% growth yoy in Dec-20 quarter consolidated revenues at Rs828.41cr. There was a sharp surge in demand for higher end apartments in Mumbai, which is where Oberoi Realty predominantly deals in. While hospitality is still a small segment, it was real estate development in the premium segment that drove sales.

For the Dec-20 quarter, the consolidated operating profits were up 70.2% at Rs372.14cr. This was on the back of a near 18% fall in operating expenses in the quarter on a yoy basis. As a result of this, the operating margin or OPM expanded from 41.46% in the Dec-19 quarter to 44.92% in Dec-20 quarter.

Consolidated Profit after tax (PAT) for the Dec-20 quarter was up 93.37% at Rs286.65cr on better operational performance. PAT margins for the quarter expanded from 28.11% in Dec-19 to 34.60% in Dec-20.

Financial highlights for Dec-20 compared yoy and sequentially

Oberoi Realty
Rs in Crore Dec-20 Dec-19 YOY Sep-20 QOQ
Total Income (Rs cr) ₹ 828.41 ₹ 527.43 57.07% ₹ 316.06 162.11%
Operating Profit (Rs cr) ₹ 372.14 ₹ 218.65 70.20% ₹ 176.21 111.19%
Net Profit (Rs cr) ₹ 286.65 ₹ 148.24 93.37% ₹ 137.74 108.11%
Diluted EPS (Rs) ₹ 7.88 ₹ 4.08 ₹ 3.79
OPM 44.92% 41.46% 55.75%
Net Margins 34.60% 28.11% 43.58%

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The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction



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